ANZ overhauls risk leadership as ASIC investigation drags on
The bank has quietly made a series of changes to its risk management as it looks to move on from its regulatory woes.
ANZ is quietly parting ways with one of its chief risk officers as new chief executive Nuno Matos restructures the banking giant's retail division and works to rebuild its reputation with regulators.
Capital Brief can reveal Michelle Pinheiro, the chief risk officer in charge of data and technology, will depart ANZ on 17 September. The departure comes as ANZ centralises its operational risk functions.
The structural changes, outlined in an internal memo sighted by Capital Brief, will also see the chief risk officer Australia role split into dedicated retail and commercial divisional roles, with the latter yet to be filled. Alongside the existing institutional role, all three will report directly to group chief risk officer Kevin Corbally.
Les Vance, the executive supporting ANZ’s enforceable undertaking, has started work in his new role. He will report directly to Matos and work between the board, exec team and regulators to uplift the non-financial risk program across the bank, a major strategic priority.
