APRA Appoints Executives, Revamps Structure

The Australian Prudential Regulation Authority (APRA) today announces some changes to its structure and responsibilities of the Executive team including new appointments to complement the existing Member and Executive Director (ED) group.

The changes follow the appointment of Therese McCarthy Hockey and Suzanne Smith to APRA Members from their roles as EDs. Over the past three months, APRA has run a recruitment process considering both internal and external candidates to fill the resultant vacancies in the leadership team.

In parallel to the recruitment process, the APRA Members reviewed the organisational structure and decided to make some changes to better support delivery of APRA’s Corporate Plan.

These changes focus primarily on strengthening APRA’s capability in technology and data and also aligning its communication and stakeholder teams. This will be done through the creation of two new ED-level roles: ED Technology and Data and Chief of Staff.

To fill the two existing vacancies and two newly created roles, APRA has confirmed four new appointments to its leadership team:

  • ED Superannuation – Carmen Beverley-Smith (new to APRA – bio attached)
  • ED Policy & Advice – Clare Gibney (formerly General Manager Resolution at APRA)
  • Chief of Staff – Jane Magill (new to APRA – bio attached)
  • ED Technology & Data – Bruce Young (formerly General Manager Operational Resilience at APRA)

In addition to the new appointments, Renée Roberts will move from ED Policy & Advice to ED Banking.

These appointments take effect from 1 March 2023, although Jane Magill will join APRA in May 2023.

Biographies – New APRA Executive Director appointments

Carmen Beverley-Smith

Carmen Beverley-Smith joins APRA in March 2023 following an esteemed career in financial services and consulting. Over the past 20 years, Carmen has held diverse leadership roles at Westpac and Commonwealth Bank of Australia, including across risk, transformation and change, product and portfolio development, and sales and service.

Most recently, she held the role of General Manager, Risk Transformation Delivery Integration at Westpac. This involved leading the Group-wide implementation of a suite of solutions to uplift the Group’s risk management capability, develop data, analytics and reporting, and mature risk culture.

Carmen is passionate about driving delivery excellence and applying creative solutions to improve organisational outcomes.

Alongside her skills in strategy delivery, change and transformation and operational excellence, Carmen leads with a values-driven approach and a particular interest in developing and mentoring talent.

Carmen holds a Bachelor of Commerce and Accounting and is a certified Chartered Accountant.

Jane Magill

Jane Magill joins APRA in May 2023 after a long career with Macquarie, primarily based in London and New York.

Jane brings broad risk management and global commercial leadership experience, and has operated as both a first and second line risk manager.

Most recently, Jane was Global Lead – Business Operational Risk, Commodities and Global Markets Group at Macquarie, where she transformed the first line of defence risk function.

She has also held a range of senior leadership roles across commodity markets, and in leading key sector portfolios.

Jane has particular talent as a strategist and a problem solver to bring about effective and sustainable change. She is passionate about diversity, and in particular has championed programs to improve gender inclusion, as well as social impact causes.

Jane, a dual UK Australian citizen, holds a Masters of Arts from Cambridge University.

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