Reporting to the governance committees listed above are other specialist committees and working groups. These include:

COVID-19 Co-ordination

During the year, APRA initiated a special COVID-19 coordination structure to facilitate faster and more coordinated decision-making. This followed the triggering of APRA’s Crisis Management Plan as the COVID-19 outbreak progressively worsened. The structure comprised three committees, led by an overarching Executive Crisis Committee (ECC) and supported by two operational Committees: an Incident Management Team (IMT) focused on APRA’s own operational capacity, and a Financial Impacts Team (FIT) which coordinated the assessment of, and response to, the pandemic on financial institutions and the broader financial system. Initially meeting daily during the onset of COVID-19, these committees are now being wound down and decision-making is returning to APRA’s normal governance structures.

Industry Groups

Reporting to the SOC, there are industry groups comprising representatives of the various divisions of APRA, covering each of APRA’s regulated industries: authorised deposit-taking institutions, superannuation, general insurance, life insurance (including friendly societies), and private health insurance. These groups monitor industry developments to identify emerging risks and issues and act as a sounding board for prudential policy issues in the different industries.

Inclusion and Diversity Council

Reporting to the Executive Board, the Council promotes awareness of workplace inclusion and diversity (I&D) and is responsible for implementing and monitoring the implementation of APRA’s I&D strategy.

Employee Consultative Group

Reporting to the ExCo, this Group facilitates communication and consultation with all APRA employees below the senior management level on the terms and conditions of their employment in line with APRA’s Enterprise Agreement and employment policies, and the impact of these on APRA’s organisational culture and values.

Work Health and Safety Committee

Reporting to the ExCo, this Committee focuses on issues concerning the health, safety and wellbeing of employees, and ensures that these concerns are integrated into broader management systems and practices.