APRA has announced a string of executive appointments as it moves to an industry-based supervision model for the banking, superannuation and insurance sectors. These are a mix of relative newcomers to APRA, and long-term career public servants. Under the new structure, each of APRA's six operating divisions will be led by an executive director, as announced yesterday by APRA chair Wayne Byres. Therese McCarthy Hockey, a 20-year career treasury professional, mostly at Deutsche Bank's Australian and UK operations, has been appointed as executive director, banking. She joined APRA in early 2018 to take on a newly created role of executive general manager, strategy and also became its chief risk officer. The responsibilities of the job were cast wide to include: the design and maintenance of the processes and techniques used by APRA's supervisors to assess risks within regulated institutions; and APRA's strategic and business planning, accountability and performance reporting processes. Byres said at the time that her "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." Sean Carmody has been appointed as executive director, cross-industry insights and data. This continues his trajectory at APRA, where he has been executive general manager of risk and data analytics since December 2017. His LinkedIn profile states that this is "the division supporting the risk-based judgements essential to APRA's supervision and policy development responsibilities". Prior to APRA, Carmody was at Westpac, where he was head of credit risk and group risk, before finishing as general manager of risk analytics and insights. Brandon Khoo has been appointed to the role of executive director, insurance. He steps up from long-term roles in APRA, firstly as EGM of its specialised institutions division, supervising stand-alone institutions - that is, engaging in one industry. His beat covered banks, building societies, credit unions, general insurers, superannuation funds and friendly societies. He has been, for most of the past five years EGM of APRA's diversified institutions division, covering large and complex institutions in the banking, life and general insurance sectors. Suzanne Smith has been appointed as executive director, superannuation, a step up from the role she was appointed to in March this year as general manager, superannuation. Smith had been named as EGM of APRA's specialised institutions division in September. Her LinkedIn profile shows her recent career included a stint as chief customer officer at MLC Life Insurance and a string of client relationship roles at NAB. Steve Matthews has been appointed chief operating officer and executive director, enterprise services, a step up from the EGM of corporate services role he has held since April 2015. Previously, Matthews was APRA's chief financial officer. Heidi Richards will act in the role of executive director of policy and advice, pending a permanent appointment to that role. The new appointments and organisational changes will formally take effect from 1 December.