Stephen Ritchie
Hamlyn Heights,Australia
Summary
High-performing risk and compliance professional with 14 years of experience in various roles, including finance brokers, aggregators, credit providers, and as the Head of Compliance for Medibank Private Limited, the largest private health insurer in Australia. Demonstrated passion for assisting organizations in understanding and fulfilling regulatory obligations. Successfully developed and implemented a monitoring and supervision program for BMW Australia Finance Limited during an Enforceable Undertaking with ASIC, which stands as one of my greatest achievements to date.
Overview
18
18
years of professional experience
Work History
Head of Compliance
Medibank Private Limited
05.2020 - Current
- Enhancing and improving the maturity of Medibank’s Compliance Management Framework to align with ISO37301: 2021-Compliance Management System
- Preparation of monthly and quarterly compliance reports for various risk committees, including the Board.
- Managing Medibank's GRC system.
- Leading the annual HPS310 Audit and Related Matters audit from a compliance perspective.
- Developing a team of five and implementing compliance policies, procedures and training materials and tools.
- Prepared records and data for regular audits.
Head of Compliance
Platform Consolidated Group
04.2019 - 04.2020
- Enhancing monitoring and supervision program for credit representatives and staff and providing regular compliance reporting to senior management.
- Managing a team of three, on-boarding new credit providers, and conducting fraud investigations.
- Development and delivery of training content as part of the Continued Professional Development (CPD) program.
- Responsible for complaints management and handling, including regular interaction with the Australian Financial Complaints Authority (AFCA).
- Listed as a Responsible Manager for the Australian Credit Licence (ACL).
Dealer Network Standards Manager
BMW Australia Finance Limited
10.2016 - 03.2019
- Development and implementation of the monitoring and supervision program (including creation of the consequence management framework), to meet the requirements of BMWAF’s Australian Credit Licence.
- Managing BMW’s accreditations process, including on-boarding new dealerships.
- Preparation of formal reports and presentations for the Risk and Compliance Committee and Senior Management, including Directors.
- Building and managing the Network Standards Department, which comprised of three staff, with a strong focus on their professional development.
Risk and Compliance / Broker Education Manager
Presidian / McMillan Shakespeare
04.2014 - 09.2016
- Creation of a first line of defense monitoring and supervision program and conducting risk-based file reviews for regulatory compliance.
- Development and delivery of compliance-related content to finance brokers, focusing on NCCP/Responsible Lending, Privacy, AML/CTF and fraud identification and prevention.
- Conducting fraud investigations and educating brokers on how to identify and prevent fraudulent transactions from occurring.
National Risk and Compliance Manager
Stratton Finance
06.2011 - 04.2014
- Implementation of regulatory changes, specifically under the National Consumer Credit Protection Act 2009 and Privacy Amendment (Enhancing Privacy Protection) Act 2012.
- Developing and delivering compliance-related training content to educate brokers on their compliance requirements under relevant acts.
Credit Analyst
ANZ
09.2010 - 03.2011
- Assessed credit risk and analysed financial statements.
- Analysed customer data such as financial statements to determine level of risk involved for extending credit.
- Analysed credit scores to determine borrowers' creditworthiness.
- Reviewed credit reports to comprehensively view borrowers' credit history and identify potential red flags.
Settlements Manager
Stratton Finance
01.2007 - 09.2010
- Liaising closely with credit providers, managing and overseeing settlements for the Victorian office.
- Implementing internal process changes to reduce held offer rates with credit providers.
Education
Diploma of Leadership and Management -
Kaplan
01.2018
Graduate Certificate in Risk Management -
Swinburne University
01.2013
Certificate IV in Finance and Mortgage Broking -
AAMC
01.2011
Bachelor of Journalism -
LaTrobe University
01.2006
Skills
- Excellent written and verbal communication
- Proven leader demonstrated by the ability to manage and develop staff
- Practical experience in implementing regulatory compliance related activities
- Regulatory expertise
- Strong decision making and problem solving
- Ability to work well within a team environment and autonomously
- Being proactive and showing initiative
- Time management and ability to work well under pressure
Timeline
Head of Compliance
Medibank Private Limited
05.2020 - Current
Head of Compliance
Platform Consolidated Group
04.2019 - 04.2020
Dealer Network Standards Manager
BMW Australia Finance Limited
10.2016 - 03.2019
Risk and Compliance / Broker Education Manager
Presidian / McMillan Shakespeare
04.2014 - 09.2016
National Risk and Compliance Manager
Stratton Finance
06.2011 - 04.2014
Credit Analyst
ANZ
09.2010 - 03.2011
Settlements Manager
Stratton Finance
01.2007 - 09.2010
Diploma of Leadership and Management -
Kaplan
Graduate Certificate in Risk Management -
Swinburne University
Certificate IV in Finance and Mortgage Broking -
AAMC
Bachelor of Journalism -
LaTrobe University
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