Inaugural CEO appointed to regulatory association

The RegTech Association (RTA), an industry association that seeks to improve compliance in the financial services space through regulatory technology, has announced the appointment of RTA general manager Deborah Young as its first CEO, effective immediately.

The RTA has also appointed Commonwealth Bank’s head of governance and assurance, Jasper Poos, and regtech firm Lucsan’s founder and chair, Harold Lucero, as directors to its board, also effective immediately. 

Commenting on the three appointments, RTA chairman Julian Fenwick said: “We are very pleased to announce these new appointments.

“We are cognisant of the need to ensure that our board has representation from both regtechs and regulated entities, and these new board members provide just that.

“Our new CEO and board appointments bring together a range of balanced perspectives to help the association accelerate the adoption of regtech in Australia.”

Newly appointed CEO Deborah Young said: “It is an honour to be confirmed as the RegTech Association’s first CEO.

“The growth and awareness of the association’s work continues to build, and I am very excited to be able to lead in the implementation of the next phase of the strategy.

“We have already begun the roll-out of our RegTech AML Boot Camps which underline our values to educate, connect and collaborate. I’d like to thank the board for this opportunity and look forward to working with all members in pursuing our goals.”

Mr Fenwick added: “It is especially pleasing to announce Deborah Young as the RegTech Association’s first CEO.

“Deborah’s passion and expertise in mobilising and operationalising industry-wide impact initiatives made her the clear and logical choice to take the association forward through its next phase.

“We are excited to work with Deborah and look forward to having her leadership in driving the organisation into the future.”

The RTA chairman also noted that he believes CBA head of governance and assurance Jasper Poos, who has held an advisory role with the group since its launch in 2017, is well equipped to serve as director, and also announced that CBA has joined Bank of Queensland (BOQ) as a regulated entity member, making it the first major bank to sign on to the new industry association.

Mr Poos said: “The Commonwealth Bank is pleased to have joined the association and I’m very excited to provide support at a board level to help drive industry collaboration within Australia.

“As a bank, we can learn a lot by working closely with regtechs to learn how we can use technology to better respond to regulators.”

Also reflecting on his appointment, Harold Lucero said: “I’m delighted to have joined the board of the RTA at such a seminal time for the industry.

“Regtech presents an opportunity for increasing productivity and ensuring a robust compliance and regulatory ecosystem.

“With Australia number three in the world in the concentration of regtech firms, there’s no better time and place to be involved in the evolution of [the] industry.”

[Related: ASIC deputy chair resigns]