Head of Legal Advisory (Superannuation and Insurance) APRA

•Penny led a national legal team that provided expert legal advice to APRA in relation to the exercise of its powers (in both its supervisory and law- making capacities) with a focus on the operation of the Superannuation Industry (Supervision) Act, the Insurance Acts and APRA’s Prudential Standards

•Led the legal aspects of APRA’s liaison with ATO, AUSTRAC, ASIC, AFCA, Treasury and OAIC on key issues impacting the superannuation, life insurance and general insurance industries

•Collaborated with other APRA divisions to create APRA’s supervisory framework for ESG risk and retirement income covenant implementation

•Worked closely with the APRA Regulatory Affairs team to assist APRA’s preparedness for Parliamentary Committee appearances and Notice responses

•Provided specialist legal support to the APRA enforcement team on superannuation matters including the  the scope of trustees’ obligations under the SIS Act covenants and Prudential Standards requirements, and Court applications for trust deed amendments to create trustee resilience reserves

Head of Legal (Superannuation) APRA

•Penny led a national legal team responsible for providing legal advice and training to APRA supervisors in relation to superannuation and administrative law matters, including the imposition of licence conditions to uplift trustee risk management practices across the industry and retail sectors

•Key representative on APRA response to various external inquiries including FRAA review of superannuation, Samuel APRA capability review and APRA submissions to the Hayne Royal Commission into Financial Services

•Enabled the successful APRA administration of the annual performance test (MySuper and TDPs) by providing expert legal advice on APRA and entity obligations under the Superannuation Industry (Supervision) Act  and FSCODA

•Led the legal team input into APRA’s response to Treasury on key law reforms in superannuation including the Your Future Your Super  package.

Head of Legal (Insurance) APRA

•Penny led a national legal team responsible for providing legal advice to APRA supervisors and policy teams in relation to prudentially regulated general and life insurance companies, including APRA’s involvement in Court approved transfers of business

•Collaborated with other APRA divisions to embed the prudential regulation of private health insurers following their transition from PHIAC

•Successfully led APRA’s legal response to managing the deteriorating financial position and governance of a friendly society

•Collaborated with other APRA divisions to review “insurance in super” practices and recommend improvements to the prudential framework