APRA farewells Deputy Chair Helen Rowell

Australian Prudential Regulation Authority (APRA) Chair John Lonsdale has paid tribute to Deputy Chair Helen Rowell as she prepares to step down from APRA tomorrow.

Mrs Rowell will end her term as Deputy Chair after 10 years in the role and more than 21 years at APRA. Helen joined APRA in 2002 as a General Manager and held a number of executive roles before becoming an APRA Member in 2013 and Deputy Chair in 2015. She was appointed to a second five-year term as Deputy Chair in 2018 and has been one of APRA's longest serving members.

Mr Lonsdale said Mrs Rowell has made a significant contribution to the work of APRA and financial services over many years, especially in insurance, where she led major reforms to the capital framework, and in superannuation where she oversaw the creation and implementation of APRA’s prudential framework for that industry. Under her watch, APRA stepped-up pressure on underperforming trustees to merge or exit as we heightened focus on boosting member outcomes. Helen also championed APRA’s cross-industry work on governance and risk management, and in the last few years oversaw significant initiatives in areas such as climate risk. 

“Helen is widely respected across the industries she has supervised particularly for her deep understanding of regulatory issues.  She is also respected internationally for her contribution to important international financial industry and regulatory forums.

“Within APRA, Helen was a role model for other female leaders as the first woman appointed as an APRA Executive Director, Member and Deputy Chair. She will be missed by all who worked with her here, and we wish Helen all the best in the next stage of her career,” Mr Lonsdale said. 

With Helen’s retirement, current APRA Member Suzanne Smith will have responsibility for oversight of general, life and private health insurers.

Mrs Rowell said it had been a privilege to work at APRA. 

“APRA is a great purpose-driven organisation where everyone works hard to protect the Australian community. I’m proud of my contribution over the past two decades in a number of areas such as leading specialist teams in supervision and policy, general insurance reform implementation, the Stronger Super reforms and data initiatives such as the Superannuation Data Transformation project and heatmaps.

“It’s important that we practise what we preach about good Board governance, so after 10 years as Member and Deputy Chair, it’s definitely the right time for me to pass the baton on to others to lead the organisation into the future.

“I’m particularly pleased to be leaving at a time when three of the four remaining APRA Members and half of APRA’s Executive Directors are women – a sign of just how far the industry and APRA have come in 20 years,” Mrs Rowell said.

Mrs Rowell said she plans to take some time off before considering her next career move. 

An interview with Mrs Rowell for APRA Insight reflecting on her time at APRA and future plans is available at: APRA farewells Deputy Chair Helen Rowell.