Predict and act: the new black

Predict and act: the new black

Aug 21
The roles of regulators, boards and management are under the microscope. Diane Smith-Gander will share her views on contemporary expectations of these three key players and consider how they should work together.


Diane Smith-Gander AO, Chair Elect, CEDA

Event overview

The Hayne Royal Commission has had far reaching effects and commentators have been quick to offer prescriptions to boards and management. CEDA’s national chair-elect, Diane Smith-Gander has built an interesting perspective through her directorships at Wesfarmers and AGL Energy and as a panel member for the capability review of the Australian Prudential Regulation Authority (APRA). Diane will lead a discussion on how contemporary expectations of boards, management and regulators can be addressed, considering: 

  • What does a contemporary regulator look like? What tools do they deploy? How does it feel to be on the receiving end of these new tools?
  • Have, as some in the media suggest, regulators made the same conduct mis-steps as companies?  What could they do to address this?  Has this destroyed regulator credibility?
  • Are regulators destined to be captured by the entities they regulate? 
  • Should boards aspire to be effective agents of regulators? How might a board step towards that? 
  • Has the management task become impossible? How can boards get ahead of the game and move from review and react to predict and act?

This briefing is by invitation only to CEDA Trustees. Trustees are senior leaders nominated by CEDA member organisations. At CEDA boardroom briefings Trustees hear from an informed, expert guest speaker in a private, small group setting. Invitations to boardroom briefings are a valued benefit of CEDA membership. Chatham House Rule applies.

Meet the speaker

Diane Smith-Gander AO
Chair Elect, CEDA

Diane Smith-Gander AO is Chair elect of CEDA and has recently served as one of three panellists reviewing the capability of APRA, the banking industry regulator following the findings of the Hayne Royal Commission. She is a non-Executive director of AGL Energy, Wesfarmers Limited, NQA group of companies, Keystart Loans group and Chair of Safe Work Australia, Asbestos Safety & Eradication Council. Diane is a past president of Chief Executive Women. Diane has held a wide range of non-executive roles in the past including Chairman of Broadspectrum, Deputy Chairperson of NBNCo, non-executive director of the CBH Group, commissioner of Tourism WA and board member of the Committee for Perth. Diane’s last executive role was Group Executive at Westpac; a member of the leadership team of the corporation, responsible for all Information Technology, back office operations, global vendor management and property. Diane was a General Manager at Westpac for 10 years in the 1990s responsible for back office functions, retail networks and support functions. Prior to re-joining Westpac Diane was a partner at McKinsey & Company in Washington and New Jersey serving clients in diverse industries globally. Diane became a senior advisor to McKinsey in Australia in 2016. Diane has been active in sports administration and is a past Chairman of both Basketball Australia Limited, the sport’s peak body, and the Australian Sports Drug Agency, the government agency responsible for deterring the use of performance enhancing drugs. Diane holds an MBA from the University of Sydney and a BEc from the University of Western Australia (UWA). In 2015 she was awarded an Honorary Doctorate of Economics from UWA. She is a Fellow of the AICD and Governance Institute of Australia and an adjunct professor of corporate governance at UWA where she serves on the advisory board of the Business School.

Meet the host

Nicola Cusworth
Chair, Economic Regulation Authority

Nicky took up her position as Chair of the Economic Reculation Authority (ERA)  in July 2016.

Before joining the ERA, Nicky was Deputy Director General at the former Department of State Development, and also previously worked for the Department of Treasury and Finance, and the Chamber of Commerce and Industry of Western Australia.

Nicky has extensive experience in economic policy and analysis and has participated in projects including the electricity market review and the Mineral Royalty Rate Analysis. She has a degree in philosophy, politics and economics from Oxford University.

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