Australia’s prudential regulator, APRA, has announced the creation of a new senior-level technology and data position, with Bruce Young promoted to the inaugural role.
As the new Executive Director (ED) of Technology and Data, Young will sit alongside five other APRA EDs, including for policy and advice, data insights, as well as industry-specific EDs of banking, superannuation, and insurance.
An APRA spokesperson confirmed the new role would bring together regulator’s technology team, which currently sits under the enterprise services division, alongside its enterprise data capability, which until now was under the remit of the Executive Director of cross-industry insights and data.
This cross-industry insights and data team, led by Brandon Khoo, will remain in place in its advisory and risk assessment function.
In a statement, APRA said the creation of the new ED role would strengthen its capability in technology and data, and better support the delivery of the regulator’s-most recent corporate plan [pdf].
The plan calls for significant investment in hybrid working and modern collaboration tools (as part of its Collaboration Technology Roadmap) as well as cloud technologies. This includes modern messaging services, improved records and information management solutions, ongoing enhancements to its intranet platform (APRAnet), and the release of new features in Microsoft Teams and other collaboration services.
Young most recently served as APRA’s general manager of operational resilience, sitting directly under Khoo.
His operational resilience team has responsibility for providing specialist expertise to APRA stakeholders on operational and compliance risk, as well as cyber, technology, data, climate and other new and emerging cross-industry risks.
Young also concurrently serves as Chair of the Council of Financial Regulators’ Cyber Security working group.
Prior to joining APRA, in early 2020, Young served in several risk and advisory roles, including as the Commonwealth Bank’s (CBA’s) chief risk officer, enterprise services (IT and operations), between 2011 and 2018, before a six-month stint as CRO of the bank’s Better Risk Outcomes program.
Before his more than seven-year stint at CBA, Young was EY’s risk and advisory partner for 16 years across a more than two-decade run at the auditor and professional services group.
Alongside Young’s promotion, the watchdog has also appointed a new ED of Superannuation, with Carmen Beverley-Smith, formerly of Westpac, replacing Suzanne Smith in the role. Smith has since stepped up to become an APRA Member.
Clare Gibney, formerly APRA’s General Manager Resolution has been promoted to ED of Policy & Advice. She replaces Renée Roberts, who becomes ED Banking (replacing the interim banking head Paul Tattersall).
APRA has also appointed a new Chief of Staff, with Jane Magill, previously global lead – business operational risk of Macquarie’s commodities and global markets group, stepping into the role.