An association of regulators hoping to improve the efficiency, productivity and safety of financial systems through the adoption of RegTech has named its first ever CEO.
The RegTech Association (RTA) announced Deborah Young in the top position as well as two new board members.
Commonwealth Bank’s (CBA) head of governance & assurance Jasper Poos has been named as a director, as has serial RegTech entrepreneur, Harold Lucero.
It is hoped the new appointments will help the RTA deliver on its mission of building higher performing, ethical and compliant businesses through RegTech innovation and investment.
RTA chairman Julian Fenwick said, “We are very pleased to announce these new appointments. We are cognizant of the need to ensure that our board has representation from both RegTechs and Regulated entities, and these new board members provide just that.
“Our new CEO and board appointments bring together a range of balanced perspectives to help the association accelerate the adoption of RegTech in Australia.
“It is especially pleasing to announce Deborah Young as the RegTech Association’s first CEO. Deborah’s passion and expertise in mobilising and operationalising industry-wide impact initiatives made her the clear and logical choice to take the association forward through its next phase.”
Young assumes the new CEO role from her previous position as the general manager of the RTA.
She said it was an honour to be named the group’s first CEO. She added, “The growth and awareness of the association’s work continues to build, and I am very excited to be able to lead in the implementation of the next phase of the strategy.
“We have already begun the roll out of our RegTech AML Boot Camps which underline our values to educate, connect and collaborate. I’d like to thank the board for this opportunity and look forward to working with all members in pursuing our goals.”
Poos said, “The Commonwealth Bank is pleased to have joined the association and I’m very excited to provide support at a board level to help drive industry collaboration within Australia. As a bank, we can learn a lot by working closely with RegTechs to learn how we can use technology to better respond to regulators.”
Lucero was the founder and chair of RegTech firm, Lucsan, which was recently acquired by IRESS, a leading supplier of innovative technology solutions for the financial markets.
He said, “I’m delighted to have joined the board of the RTA at such a seminal time for the industry. RegTech presents an opportunity for increasing productivity and ensuring a robust compliance and regulatory eco-system. With Australia number three in the world in the concentration of RegTech firms, there’s no better time and place to be involved in the evolution of industry.”