Positioning for change 

The 2023 AFIA Risk Summit is focused on connecting members with industry peers, regulators, and subject-matter experts across the financial services landscape to address and share insights on the new, priority and emerging legal, risk and compliance issues within the industry.

The event will bring together 50 senior legal, risk and compliance executives from Australia’s leading finance brands across AFIA’s full membership to directly engage with key industry stakeholders such as ASIC, ACCC, APRA, AFCA and CSIRO, and cogitate what will be needed to future-proof the industry.

From upcoming legislation and emerging regulatory guidance to the latest developments in climate-related risk and sustainability, the evolving payments landscape, cybersecurity, operational resilience, and supply chain risk across the financial services landscape, the 2023 AFIA Risk Summit offers participants an unrivalled opportunity to ask questions, share ideas, test and challenge points-of-view, and unlock new strategies.

Our open, casual format is the catalyst for compliance-focused, experiential learning in an intimate and interactive environment. Summit attendees will have the opportunity to knowledge-share, collaborate and engage with industry peers in roundtable discussions, interactive Q&A sessions, and networking events included in the summit program.

Agenda - Day 1


Welcome & Introductions

Diane Tate, CEO, AFIA


 The Big Picture - Panel

Over the past two years, the finance industry has demonstrated its ability to successfully navigate unprecedented levels of uncertainty. But it’s still an upward climb. Now faced with interest rate volatility, increasing credit risk exposures, supply chain disruptions, changing consumer preferences and the risk of a recession— 2023 brings a new set of challenging operating conditions for financial institutions, promising to be a year in which more regulation, the impact of sustainability and climate change, accelerating digitisation and data reliance, and requirements around transparency become marketplace realities.

This session will explore the industry outlook for financial services in 2023. The panel will discuss new and emerging trends and priorities; upcoming regulatory changes; the key risks, challenges and opportunities for financial institutions, and how business leaders can navigate the path ahead.

Roza Lozusic,
ED Policy & Strategy, AFIA; Kerensa Sneyd, Partner, Allens; Steven Klimt, Partner, Clayton Utz & 
Andrea Beatty, Partner, Piper Alderman

 9.55AM  Morning Tea  


 Enforcement & The Regulatory Toolkit

On 15 February 2023, ASIC released an update of its enforcement priorities and regulatory timetable for 2023, coinciding with the release of its latest enforcement and regulatory report (Report 757). The update signalled an expansion of ASIC's 2023 enforcement priorities previously announced in November 2022 including poor design, pricing and distribution of financial products; governance and directors' duties failures; misconduct involving crypto assets; investment scams and market manipulation.

ASIC's release is consistent with its focus in the two emerging areas of "greenwashing" and Design and Distribution Obligations (DDO).

This session will explore ASIC’s new enforcement focus, exploring key areas such as DDO, Reportable Situations Regime and Product Intervention Powers (PIP) as well as major developments in sustainable finance and technology risk.

Sarah Court,
Deputy Chair, ASIC


 ASIC Deep Dive
Roza Lozusic,
ED Policy & Strategy, AFIA  & Sebastian Reinehr, Senior Policy Advisor, AFIA


Regulating Digital Platforms

In Australia, the significance of digital platforms has had increasing recognition, both for individual consumers and businesses. Consequently, the appropriate regulation of these platforms is a matter of considerable debate across the finance industry.

On 8 March 2023, the ACCC advised that it will examine the expanding ecosystems of digital platform service providers in Australia as part of its five-year Digital Platform Services Inquiry.

This session will explore ACCC’s FY24 compliance and enforcement priorities, new and upcoming reforms in relation to digital platforms, trends in unfair trading and anti-competitive practices, ACCC inquiries into Digital Platform Services and international developments.

Gina Cass- Gottlieb, Chair, ACCC

 12.15PM  Lunch  

 What Have We Heard? - Attendee roundtable discussion

Diane Tate, CEO, AFIA 


 AI & The Future Of Decision Making

Expectations on risk teams continue to evolve as the external risk environment becomes more complex. While external risks such a technology, cyber security, ESG, supply chains, and macroeconomic risks continue to increase the complexity and scope of risk profiles for financial institutions, internal issues bring their own set of challenges. Risk managers are needing to do more with less. Consequently, the need for real-time data and sophisticated analytics has become increasingly important, making access to accurate and actionable insights a crucial aspect of decision-making. Introducing AI into this process plays a major part in improving outcomes. By leveraging AI, financial institutions are better equipped to transform the decision-making process to be more accurate, efficient, and successful.

This session will examine how financial institutions are leveraging AI to make more informed and better decisions, exploring both the opportunities and risks that AI presents in data management, the customer experience, competition and regulation.

Dr Zili Zhu,
Director – Risklab Data61, CSIRO


 Managing Risk In Supply Chains

Supply chain risks are high profile in 2023, stemming from disruption caused by a complex mix of economic uncertainties, sustainability and climate change, inflationary pressures, global geo-political challenges and technological transformations. An issue in any of these areas could lead to severe financial and reputational damage. How financial institutions manage these disruptions can either be a critical opportunity or risk in the year ahead.

This session will delve into supply chains, exploring how organisations can mitigate risks, use innovative approaches to better manage suppliers, and ensure supply chains are responsive and agile to manage the unexpected and to deal with these threats and disruptions appropriately, efficiently and profitably.

Chris Coldrick,
Partner, Deloitte
 3.15PM  Afternoon Tea  


 The Importance Of Acting On ESG Issues

A range of industry drivers are fuelling the demand for Environmental, Social and Governance (ESG) action across the financial services landscape, including a combination of regulatory push, mandatory disclosures, and international mandates for transparent and proven ESG policies and practices - increasing the stakes on ESG action, inaction or omission.

It is essential that financial services organisations know how to act on ESG issues. The time has come for real change – going beyond good intentions to create a practical plan that achieves tangible results.

This session will focus on creating solutions to address key ESG business challenges, from carbon measuring, reporting, and steering to supply-chain decarbonization, climate risk, and competitive analysis.


Brendan Tapley,
Director, Sustainability & Climate Change, PwC


 Let's Talk About Privacy - Attendee Q&A

  • What privacy and data protection risks are keeping you up at night.
  • Data breaches in the finance sector.
  • Real-life case studies.
  • The risk areas in your business.


Kelly Dickson,
Managing Principal Lawyer, Macpherson Kelley
 4.50PM  Wrap Up Diane Tate, CEO, AFIA
 5.00PM  Day one close  
Summit Networking Dinner
The Summit Networking Dinner will be held at the Builders Arms Hotel (located at 211 Gertrude Street, Fitzroy) from 6.30pm to 8.30pm on Thursday, 4 May. All Summit attendees and speakers are welcome to attened the dinner.


Agenda - Day 2


Open & Introductions

Diane Tate, CEO, AFIA


Improving Customer Outcomes 

2023 is set to be another big year for AFCA as it transitions to a maturing EDR scheme to strengthen its place within the broader financial services industry and the Australian consumer protection network.

AFCA members face a myriad of challenges, including increasing scam and fraud activity, the ongoing impacts of natural disasters, the global cost of living crisis and the geo-political pressures. Moreover, millions of homeowners are expected to face higher mortgage rates with their fixed-term loans due to expire this year, significantly impacting consumers and financial institutions.

A key challenge continuing to face the industry is the number of complaints, with AFCA receiving over 60,000 complaints in this financial year.

This session will examine industry trends in consumer complaints, and AFCA’s 2023 priorities and compliance focus. Participants will hear AFCA’s perspective on the challenges the industry can expect to face this year, and the activities and initiatives the Ombudsman will be implementing to help financial institutions address these issues.

David Locke,
CEO & Chief Ombudsman, AFCA


AFCA Deep Dive

Roza Lozusic,
ED Policy & Strategy, AFIA & Sebastian Reinehr, Senior Policy Advisor, AFIA
 10.10AM  Morning Tea  


CDR: Developments, Risks & Complexities - Panel

2023 is anticipated to be the Consumer Data Right’s (CDR) most significant year since its inception, with important enhancements, the introduction of an important new functionality, and its rollout of Open Finance, opening up arguably the most compelling opportunities for current participants in leveraging CDR data to date. However, as regulators continue to sharpen enforcement to ensure compliance with the CDR regime, it will also be important for new and existing participants to understand their obligations under the regime and monitor compliance.

This session will explore the CDR’s rollout to the non-bank lending sector, the accreditation process, compliance and managing risks and what strategic considerations organisations should be thinking about.

Roza Lozusic, ED Policy & Strategy, AFIA; Dr John Harrison, Head of Open Banking, Yodlee and Dennis Rappoport, Group Manager Data Science, Liberty


The Evolving Payments Landscape - Fireside Chat

Despite the difficult economic conditions resulting from a global pandemic and a contraction in economic activity during the 2021 and 2022 financial year, 2023 is shaping up to be an exciting time in the evolving payments landscape, with a proliferation of new innovations in real-time payments and blockchain-based solutions, changing business models, shifting consumer behaviours and expectations, and pending regulations.


Digitisation is further shifting payments from the physical realm to the virtual realm. While this shift has allowed modern payments to address payment speed, efficiency, risk protection, and customer experience to deliver significant opportunities for SMEs to optimise business operations, it simultaneously exposes participants to risks.


This session will examine the current Australian payments landscape for SMEs, putting this in the context of payments for consumers, domestic and international developments, and the driving forces of change, such as competition, innovation, regulation and so on. 



Jennifer Turner,
Head of Large Markets & Supplier Payments, AMEX


Operational Resilience: Setting A New Standard - Fireside Chat

On 2 February 2023, the Australian Prudential Regulation Authority (APRA) released its policy and supervision priorities for 2023. At a time of global economic uncertainty, APRA’s 2023 agenda focuses on embedding recent regulatory reforms, as well as bolstering operational resilience and ensuring entities have sufficient financial strength to act as a buffer against any emerging financial stresses. 

This session will explore APRA’s key policy and supervision priorities for the year ahead including financial resilience, governance, risk management, resolution and competition issues.

Bruce Young,
Executive Director, Technology & Data, APRA

 12.40PM  Lunch  

 Credit Law Regulation

The financial services regulatory landscape continues to undergo a number of significant changes with new and amended regulations continually being released. 2023 is no exception to this accelerated change. These reforms will require significant planning and a strong understanding of new responsibilities and accountability obligations.

This session will explore new and upcoming credit regulations in Australia for the year ahead including the commencement of new obligations, changes to existing ones, important reports and key enforcement matters.

Steven Klimt,
Partner, Clayton Utz


Cybersecurity & Data Protection

Over the past two years, the finance industry has seen a continual shift in the mindset from traditional cyber security to a cyber resilience, recovery and harm minimisation mindset. Those who are not cyber resilient have found themselves exposed to cyber attackers and supply chain disruptions.

As more sophisticated organisations strengthen their security posture, opportunistic threat actors will focus on weaker links. Organisations must look closely at not only their own security and resilience, but that of their suppliers, customers and intermediaries.

Tech innovation has traditionally focused on operational efficiency and optimising processes. The advancement of secure methods of data sharing including through the Consumer Data Right, the focus on increased penalties and strengthening the framework for data privacy, and accelerating cyber threats have sharpened the focus on security and resilience. Every technology decision will need to take into account resilience and security implications and consider how decisions impact an organisation's exposure to threats.

This session will explore the latest data and cybersecurity developments across the industry, the evolving threat landscape, frameworks and capabilities required to manage cybersecurity risks, as well as lessons and forecasts for 2023 and beyond.

John Macpherson,
Director – Risk Advisory, Ashurst


Wrap up & Close


Roza Lozusic,
ED Policy & Strategy, AFIA

 3.20PM  Afternoon Tea  
 3.40PM  Day one close  
Attendee List
Position Title