FMA changes management structure

Managerial changes for executive staff have been unveiled at the Financial Markets Authority (FMA).

Monday, September 19th 2022, 10:41AM

by Eric Frykberg

Half the posts have been announced already.

The reforms are intended to prepare the FMA for its expanding mandate, and to foster a strong and trusted financial sector that treats people fairly, according to the FMA chief executive, Samantha Barrass.

The new structure will consist of six executive level roles reporting directly to Barrass. One is the Executive Director, Strategy & Design, which will focus on strategy and direction setting. A second is Executive Director, Regulatory Delivery, which will focus on licensing and other regulatory processes.

A third role will be Executive Director, Response & Enforcement, and a fourth will be Executive Director, Evaluation & Oversight and General Counsel, which will have a largely legal function.

A fifth will be Executive Director, Transformation & Operational Delivery, which will have a financial and operational role, and the sixth post will be Executive Director, Te Ao Māori.

Some appointments have already been made.

Liam Mason has been appointed to the role of Executive Director, Evaluation & Oversight and will continue the role of General Counsel. Paul Gregory has been appointed to the role of Executive Director, Response & Enforcement, and Clare Bolingford has been appointed to the role of Executive Director, Regulatory Delivery.

The FMA is undertaking an external recruitment process for the remaining roles.

The new team will replace the current Executive Committee early in the new year and the new structure will take effect at the same time.

Some senior managers will stay on in various roles. They include the HR leader Sarah Feehan and the director of supervision, James Greig.

The chief operating officer, Brad Edley, is moving on. A well-known FMA identity,

John Botica, stays on in various capacities, including interim chief Chief Operating Officer.

“All these individuals are held in the highest regard and respect by our staff and the FMA Board, and have each played a significant part in our success,” Barrass said in a tribute to them.

“As we aim to grow into a world-class conduct regulator, helping more New Zealanders than ever believe the financial services sector is working well for them, I recognise we need to build on the strengths that have helped the FMA get to where we are today.”

Tags: FMA