APRA announces new Executive General Manager
The Australian Prudential Regulation Authority (APRA) has today announced the appointment of Ms Therese McCarthy-Hockey to the newly created role of Executive General Manager, Strategy/Chief Risk Officer.
As APRA's Executive General Manager, Strategy and Chief Risk Officer, Ms McCarthy-Hockey will be responsible for APRA's Supervision Framework and Enterprise Strategy & Risk functions. This responsibility covers both the design and maintenance of the processes and techniques used by APRA's supervisors to assess risks within regulated institutions, as well as the framework APRA uses to oversee its own risks. Ms McCarthy-Hockey will also oversee APRA's strategic and business planning, accountability and performance reporting processes.
Ms McCarthy-Hockey brings to APRA extensive financial markets experience, both in Australia and internationally. Amongst other qualifications, she holds a Bachelor of Mathematics from Sydney University, as well as a Bachelor of Economics and Finance and Master of Applied Finance degrees, both from Macquarie University.
APRA Chairman Wayne Byres welcomed Ms McCarthy-Hockey's appointment to APRA's executive team. ‘Therese brings to APRA impressive skills and experience relevant to this newly created role, as well as a very strong commitment to APRA's mission to protect the financial well-being of the Australian community. In particular, Therese's understanding of the financial system, and the inner workings of complex financial institutions, will help ensure APRA's strategies and supervisory practices remain up-to-date and fit for purpose.'
Ms McCarthy-Hockey's appointment takes effect from 1 February 2018.
The Australian Prudential Regulation Authority (APRA) is the prudential regulator of the financial services industry. It oversees banks, credit unions, building societies, general insurance and reinsurance companies, life insurance, private health insurers, friendly societies, and most members of the superannuation industry. APRA currently supervises institutions holding $6 trillion in assets for Australian depositors, policyholders and superannuation fund members.