APRA executive director for life insurance, private health insurance and superannuation (LPHIS) Carmen Beverley-Smith has resigned to take up an opportunity in a “senior position at a regulated entity”.

LPHIS general manager Peter Kohlhagen will serve as acting executive director on an interim basis until it is permanently filled, which APRA hopes to do “as soon as possible”.

Beverley-Smith had been with APRA since 2023, when she joined as executive director for superannuation. She has held a number of executive roles across risk and transformation  at big four banks, and prior to joining APRA was general manager for the risk management business division and risk transformation delivery integration at Westpac.

Beverley-Smith is the latest departure from the regulator, with APRA deputy chair Margaret Cole announcing that she would leave at the end of her current term on 30 June 2026.

“It has been a difficult decision to move on from such a critical role in a highly respected regulator with first rate colleagues and a vital mission for Australia and its people,” Cole said at the time. “But leadership is about taking the right decisions at the right time and leaving the enduring organisation in a strong position to face future challenges.”

It’s not unusual for employees of the regulator to head to the private sector, with former APRA deputy chair Helen Rowell joining Australian Retirement Trust in 2024 as a director before being appointed chair in 2025, and former APRA executive director for banking Renee Roberts heading to Judo Bank as chief risk officer following her time at the regulator.