The Australian Prudential Regulation Authority (APRA) today announced the appointment of two new Executive General Managers (EGMs) to its senior executive team. These appointments complete APRA’s transition to a new organisational structure that comes into effect from 1 July 2017.
Current APRA Chief Risk Officer Ben Gully has been appointed to the role of EGM, Specialised Institutions Division. Mr Gully joined APRA around two years ago, having previously held senior roles at the Office of Superintendent of Financial Institutions (OSFI) in Canada, where he was the head of large bank supervision and played a lead role in developing OSFI’s supervisory practices, quality assurance, and risk management and analytics. Prior to his 15 years at OSFI, Mr Gully worked in the Financial Stability area of the Bank of England.
Sean Carmody has been appointed to the newly-created role of EGM, Risk & Data Analytics Division. Mr Carmody currently heads Westpac’s Risk Analytics and Insights function, which is responsible for the bank’s analytical work in relation to market risk, liquidity risk, stress testing, and its credit, operational and capital models. Mr Carmody brings to APRA more than 20 years’ experience in banking, finance and consulting.
APRA Chairman Wayne Byres said these appointments mark a significant milestone in the refresh of APRA’s senior leadership team.
'Together with the appointments in May of four new senior executives, we have completed our organisational restructure designed to ensure APRA continues to respond to changes in the financial sector and deliver on APRA’s mission to protect the financial well-being of the Australian community.'
The announcement in May 2017 of the appointment of four new senior executives can be viewed here.