Genworth announces board changes

Genworth Mortgage Insurance Australia Ltd has announced the appointment of Andrea Waters as an independent, non-executive director of its company board, effective 16 March 2020.

According to the mortgage insurance company, Ms Waters is a welcome addition to the board, having over 35 years experience in financial services as an auditor, accountant and non-executive director.

Ms Waters is currently a director of MyState Ltd, Grant Thornton Australia Ltd, Bennelong Funds Management Group, Citywide Service Solutions Pty Ltd and Colonial Foundation.

She is a fellow of Chartered Accountants Australia and New Zealand, and a member and accredited facilitator of the Australian Institute of Company Directors.

Ms Waters is also a former partner of KPMG, specialising in financial services audit, until leaving the company in 2012.

The appointment of Ms Waters follows the announcement of the retirement of Gayle Tollifson.

The lender’s mortgage insurance provider announced that Ms Tollifson will retire from the company’s board of directors after eight years of service, effective 15 March 2020.

Ms Tollifson was appointed to the Genworth board in February 2012 and served on various committees, including as the current chairman of the risk committee and as a member of the audit committee, capital and investment committee, and the remuneration and nominations committee.

The board thanked Ms Tollifson for her contribution to the board and its committees throughout her eight-year tenure, particularly during the company’s listing process in 2014, and for her service on the board of Genworth Financial Mortgage Insurance since April 2007.

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