Labor MP Jim Chalmers is the frontrunner to become the new Shadow Minister for Financial Services and Superannuation, after Bernie Ripoll resigned from the position in September.

The decision of who is to take up the portfolio is due to be made by 11:30am October 13, 2015.

In the past month the portfolio for financial services and superannuation in the Liberal party has also changed hands. Following Malcom Turnbull’s restructuring the portfolio was elevated to Cabinet level and given to Kelly O’Dwyer, who is simultaneously the Minister for Small Business.

Chalmers has been an MP since 2013. He is the Shadow Parliamentary Secretary to the Leader of the Opposition and Shadow Parliamentary Secretary for Trade and Investment. He is also the deputy chair of the House of Representatives Standing Committee on Tax and Revenue and is a member of the House of Representatives Standing Committee on Economics.

Prior to his election he was an executive director at the Chiefly Research Centre, chief of staff to the Deputy Prime Minister and has taught at three universities. He has a PhD in political science and international relations.

Ripoll’s advice, to whomever takes the position, was to engage closely with the superannuation sector as strong views were held, not just amongst politicians, but the community at large, and time was needed to work through and solve the issues.