The Reserve Bank of Australia (RBA) has announced the appointment of Rachael Phelan, currently serving as the Chief Operating Officer of National Australia Bank (NAB), as its new chief risk officer. The news was revealed in a statement released on Wednesday, marking a significant leadership change within the central bank.
Phelan brings extensive experience from her role at NAB, where she has overseen key operational functions. Her transition to the RBA underscores the institution's focus on strengthening its risk management framework ahead of the 2027 fiscal year.
The appointment comes at a critical time for the RBA, as it navigates evolving economic challenges and regulatory demands. Phelan's expertise is expected to play a pivotal role in shaping the bank's risk strategies moving forward.