Governance Structure

RBA governance structure
Download a PDF of the Governance Structure 56KB of the Bank.

The activities of the RBA are overseen by the following boards and committees.

Monetary Policy Board

The Monetary Policy Board is responsible for the RBA’s monetary and financial stability policy (other than when that relates to its payments system policy). The Governor is Chair of the Monetary Policy Board. The Deputy Governor is Deputy Chair.

Payments System Board

The Payments System Board is responsible for payments system policy. The Governor is also Chair of the Payments System Board. The Assistant Governor (Financial System) is Deputy Chair.

Governance Board

The Governance Board is responsible for overseeing the management of the RBA and its operations (including those relating to banking, payments operations and banknote issuance). It is the accountable authority of the RBA under the Public Governance, Performance and Accountability Act 2013. The Governor is also Chair of the Governance Board. Carol Schwartz AO is the Deputy Chair.

Audit & Risk Committee

The Audit & Risk Committee is a sub-committee of the Governance Board. It supports the Governance Board by reviewing the appropriateness of its financial and performance reporting, its system of risk oversight and management and its system of internal control.

Remuneration Committee

The Remuneration Committee is a sub-committee of the Governance Board. Its membership is drawn from the non-executive members of the Governance Board.

Executive Committee

The Executive Committee is the key executive review and decision-making committee of the RBA for matters of a management and/or administrative nature that have strategic, RBA-wide or external significance. It is a management committee chaired by the Governor. Its membership includes the Deputy Governor, Chief Operating Officer and the four Assistant Governors.

Risk Management Committee

The Risk Management Committee is responsible for ensuring that operational and financial risks are properly identified, assessed and managed across the RBA in accordance with the RBA’s Risk Management Policy and any directions from the Governance Board. It is a management committee chaired by the Deputy Governor.