The prudential regulator has appointed a former executive of Deutsche Bank to a newly established role.
Therese McCarthy Hockey will assume the role of executive general manager of strategy/chief risk officer on 1 February 2018.
Ms McCarthy Hockey will now be responsible for the regulator’s supervision framework and enterprise strategy and risk functions. This responsibility will entail the design and maintenance of the processes and techniques used by APRA’s supervisors to monitor risks within regulated institutions, and will also include the assessment of the framework APRA uses to manage its own risks.
Ms McCarthy Hockey will manage APRA’s strategic and business planning, accountability and performance reporting processes.
APRA chairman Wayne Byres welcomed the new addition and believes that Ms McCarthy Hockey’s extensive industry knowledge and experience will help APRA effectively manage its strategies and supervisory practices.
“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 wellbeing of the Australian community,” Mr Byres said.
“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.”
The new appointee has previously held several executive treasury positions at Deutsche Bank and holds tertiary qualifications in mathematics, economics and finance.