Media Release Appointment of Head of Payments Settlements Department

Sarah Harris has been appointed to the position of Head of Payments Settlements at the Reserve Bank of Australia. This position was previously held by Greg Johnston, who is now leading the program of work designed to strengthen the RBA’s payments infrastructure. Ms Harris will commence her new role on 13 November 2023.

Ms Harris was most recently the Reserve Bank’s Deputy Head of Payments Settlements. Prior to that she held a number of roles in the Payments Policy Department including leading the team with oversight of payments, clearing and settlement systems and associated policy and research. Ms Harris also contributed to the development and implementation of resolution, recovery and other crisis management policies relating to financial market infrastructure. Before joining the RBA, Ms Harris worked at the UK Financial Services Authority for over 13 years, running the clearing and settlement supervision team and working in the banking and market divisions.

Ms Harris has a Bachelor of Science (Hons) in Finance and Accounting. She is a graduate of the Australian Institute of Company Directors and a signatory to The Banking and Finance Oath.

In her new position, Ms Harris will oversee the operation of the Reserve Bank Information and Transfer System (RITS), Australia’s real-time gross settlement system. Her department is also responsible for the settlement of high-value payments and interbank obligations arising from the conduct of Exchange Settlement Accounts and the Reserve Bank’s own trading activities. She will report directly to Michelle McPhee, Assistant Governor, Business Services.