Finsure has tapped Bank of Queensland (BOQ) alum Greg Milward as its new risk and compliance manager, as the aggregator group sharpens its focus on risk controls, compliance and governance.
"While obviously we have had teams with responsibility in risk and compliance, our decision to appoint Greg to this role was founded in our ambition to embed a more proactive approach to driving improved policies, managing risk and ensuring compliance across our business so that we can be the partner that our partners can trust, at a time when our entire industry is facing growing threats and growing scrutiny," said Simon Bednar, chief executive officer of Finsure.
"Over recent years, Finsure has taken a number of proactive steps to improve our ability to manage and respond to risk, including significant investment in strengthening our compliance and governance frameworks," he continued. "This is the next logical step in that process."
Sydney-based Greg Milward brings international banking experience to the role, having held senior positions across South Africa, New Zealand and Australia with organisations including Bank of Queensland, Macquarie Bank, Westpac and ASB Bank.
“With experience across highly regulated markets, including financial services, automotive and energy, we are confident Greg will align our internal risk and compliance structures with Australia’s leading lenders, while bringing a fresh perspective on how we can drive sustainable improvements in risk maturity and culture, and continue to build our internal capability to respond to and manage risk," Bednar said.
Milward added: "Finsure has a strong broker-first culture, and the business has made significant investment in lifting its risk maturity in recent years. There is always more to do as the issues we face in this area continue to evolve. Finsure is an organisation that takes risk and governance seriously, from the top down. There is a genuine commitment to embed best practices at every level of the business. That’s exactly the kind of environment I want to be part of. I'm looking forward to continuing to embed practical, fit-for-purpose frameworks that protect our broader network whilst ensuring any bad actors are quickly identified and removed from the system."
Finsure falls under the MA Financial Group umbrella, which also includes non-bank lender MA Money and online home loan application platform Middle. MA Financial acquired Finsure in 2022 for $145 million.
The group has roughly 4,000 brokers within its network.
Chris Wyke, co-founder and co-chief executive officer of MA Financial, previously told Australian Broker that Finsure "touches one in every 12 home loans in Australia."
