MLC Life Insurance appoints new chief risk officer

MLC Life Insurance has announced Jane McGovern as its new chief risk officer.

Ms McGovern – who currently works as group executive for risk and governance at iCare NSW – will join the life insurer from 19 September 2022 where she will replace acting chief risk officer, Edwina Star.

Ms McGovern has over 20 years’ industry experience and recently worked at Zurich Financial Services as chief risk officer, where she led the company’s risk management framework and strategy in its general insurance, life insurance and investments, superannuation and shared services businesses.

“I’m very much looking forward to joining MLC Life Insurance and making a genuine contribution to the risk and governance culture of the organisation,” Ms McGovern said.

“I am excited to be able to bring innovative ideas and a commercial mindset to support the leadership team on MLC Life Insurance’s exciting journey.”

MLC Life Insurance’s outgoing CEO Rodney Cook added that he is thrilled to welcome Ms McGovern to the group.

“She is a seasoned and experienced chief risk officer with a strong track record in driving innovation in risk management and compliance for some of Australia’s largest financial services organisations,” Mr Cook said.

“Her understanding of the issues impacting our sector, as we continue to embed a strong risk culture in our business, will be important as we [execute] our business strategy.”

Mr Cook announced just weeks ago that he will retire at the end of the year following a two and a half-year stint in the CEO and managing director role.

Mr Cook will stay on with MLC Life Insurance until late October when he will be succeeded by incoming CEO and current chief finance officer, Kent Griffin.

“I am pleased the board has chosen Kent to take over from Rodney as our new CEO. He is an outstanding leader and brings a wealth of commercial and strategic experience to the role,” MLC Limited chairman, Peter Grey, said.

“Since he joined us in early 2020, Kent has helped to strengthen our business and has overseen our return to profitability. He is a strong leader with a clear vision for the future of MLC life Insurance as we face the challenges of a fast-changing life insurance sector and ever evolving customer needs.

“On behalf of the board, I want to extend our sincere thanks to Rodney for guiding us successfully over the last two years. During his tenure, Rodney commenced an important change to our culture and mindset to one that is relentlessly focused on the needs of our customers. We are confident this good work will continue after his departure.”

Neil Griffiths

Neil is the Deputy Editor of the wealth titles, including ifa and InvestorDaily.

Neil is also the host of the ifa show podcast.