Executive Board

The Executive Board comprises all APRA Members and ordinarily meets on a monthly basis. It is responsible for setting APRA’s strategic direction and risk appetite and oversees performance and management of risk across the organisation. The Executive Board deals with matters that require formal approval or decisions such as APRA's strategic plans, financial statements and budgets, risk framework and remediation issues, audit plans, and matters that are essential to meeting the organisation’s statutory obligations.

The Executive Board is supported by six Executive Directors and a range of governance committees, as follows.

Audit and Risk Committee

APRA’s Audit and Risk Committee (ARC) provides independent assurance and advice to the APRA Chair on APRA’s risk management operations, financial and performance reporting responsibilities, systems of internal controls, and compliance with applicable laws and regulations. The ARC is an advisory committee and not a decision-making body.

In fulfilling its obligations, the ARC is briefed on a range of matters including APRA’s financial performance and implementation of its strategic objectives. It has the authority to call for reports and updates from across APRA as required to meet its obligations.

The Audit and Risk Committee Charter is available here: 

The ARC comprises three independent non-executive members. In addition to its members, the Australian National Audit Office (ANAO), an APRA Member and APRA’s Chief Risk Officer and Chief Internal Auditor are regular attendees at ARC meetings. The ARC meets formally four times a year. Additional meetings may be held to meet any specific requirements of the ARC or the APRA Chair.

Executive Committee

The Executive Committee (ExCo), comprising all APRA Members and the Executive Directors, meets throughout the year. The ExCo is the primary forum to provide advice and direction on strategy, risk, delivery of corporate plan and industry plan priorities, and emerging external risks and issues.

Prudential Policy Committee

The Prudential Policy Committee (PPC) is the primary forum for strategic oversight and review of APRA’s prudential policy development function, including related strategic initiatives and risks. The PPC comprises all APRA Members plus relevant executives and meets twice monthly.

Supervision, Enforcement and Resolution Committee

The Supervision, Enforcement and Resolution Committee (SERC) is the primary forum for the strategic oversight and review of APRA’s core supervisory function, including the use of enforcement and resolution powers. The SERC comprises all APRA Members plus relevant executives and meets twice monthly.

Management Committee

The Management Committee (MCo), comprising all APRA Executive Directors, provides oversight of the day-to-day management of APRA, and meets twice monthly. The MCo focuses on financial reporting and forecasts, portfolio prioritisation and resourcing, leadership and people related matters, technology and data infrastructure and capabilities, security and risk matters.

Other forums and groups

Additional specialist forums report or provide input to APRA’s governance committees. These include the Inclusion and Diversity Council, Strategic Consultative Forum, Work Health and Safety Committee, and the Integrity Review Group.