Ms Jane Diplock AO
(Member since 2012)
BA (Hons), LLB, DipEd (Sydney), Dip Int Law (ANU), FIPAA, FNZIM, FAICD
- Director, Australian Financial Services Group Pty Ltd
- Member, Public Interest Oversight Board (PIOB)
- Member, International Advisory Council, International Centre for Financial Regulation, London
- Member, International Advisory Committee, China Securities Regulatory Commission
- Member, International Advisory Board Securities and Exchange Board of India
- Ambassador for the International Integrated Reporting Committee
- Chairman of the Executive Committee, International Organisation of Securities Commissions (IOSCO)
- Chairman of the Securities Commission, New Zealand
Jane was the Chairman of the Executive Committee of the International Organisation of Securities Commissions (IOSCO) until April 2011. She was first elected in 2004 and re-elected for a fourth term in June 2010.
Jane was appointed Chairman of the New Zealand Securities Commission in September 2001, and reappointed in 2006 for a further five-year term, which ended in April 2011.
Before this appointment, Jane was the National Director, Infrastructure and Strategic Planning, and New South Wales Regional Commissioner with the Australian Securities and Investments Commission. She has also held senior executive positions with Westpac Banking Corporation, and was Managing Director of the New South Wales Technical and Further Education Commission.
She has chaired and been a member of a number of boards and committees in the public, private and not for profit sectors. She has been involved in standard setting globally and nationally.
Jane is a member of the Financial Crisis Advisory Group set up in December 2008 by the International Accounting Standards Board and the United States Financial Accounting Standards Board. It examines financial reporting issues arising from the global financial crisis. She is also a member of the Trans-Tasman Leadership Forum.
Jane was a member of the Steering Committee set up by, among others, HRH The Prince of Wales to establish an International Integrated Reporting Committee. This body will develop a financial reporting model to support the information needs of long-term investors and sustainable investment.
Jane was appointed an officer of the General Division of the Order of Australia in January 2003 for “service to business and commerce, to public administration, particularly in the areas of education and training, and to the community through a range of social justice, health, educational and cultural organisations”.
On International Women’s Day in March 2011 Jane was honoured by the Australian Government as one of the “Advance 50” current and emerging Australian women leaders globally.
Jane holds degrees in arts and law, a Diploma of Education from Sydney University and a Diploma of International Law, International Economics and International Relations from the Australian National University. She was a Chevening Research Fellow at the London School of Economics.
She is also:
- Barrister and Solicitor of the ACT Supreme Court and High Court of Australia
- Barrister of the New South Wales Supreme Court
- Fellow of the Institute of Public Administration Australia
- Fellow of the New Zealand Institute of Management Inc
- Fellow of the Australian Institute of Company Directors
- Member of Chief Executive Women, Australia
- Member of Global Women, New Zealand
- Member of the Belizean Grove, USA
AN OVERVIEW OF GOVERNANCE AND STANDARD SETTING EXPERIENCE
Following an extensive and varied executive career in senior roles in both the public and private sectors, Jane Diplock AO has focused the past 10 years on governance and standard setting at global and national levels.
For the past 7 years she has chaired the Executive Committee, the governing board of IOSCO, the International Organisation of Securities Commissions.
The Executive Committee of IOSCO has over this period transformed the organisation from an aspirational standard setter to an integral operational part of the global financial architecture, with two seats on the Financial Stability Board. It is now recognised by the G20, the IMF and The World Bank as the global standard setter for global securities markets.
During her period of leadership new global standards have been passed in relation to many areas of capital market developments and infrastructure as well as new standards on systemic risk in markets. She has provided significant thought leadership on these issues.
Under her leadership IOSCO adopted a new strategic direction and has reconfigured its structure and funding arrangements to better address the challenges of the 21st century.
This global role has required strong leadership capacity, intellectual rigour, team work, consensus building ability and strong diplomatic skills to forge consensus solutions to difficult and seemingly intractable issues which affect the real economies around the world.
It has required the capacity to work with experts from all countries around the world; developed and developing, to gain their confidence and respect while solving difficult technical problems.
It has required a clear strategic vision for the organisation and leadership to ensure its adoption and implementation. It has also required an understanding of the need for open, transparent consultation and inclusive approaches to strategy and standard setting to ensure the final results will be implemented world wide.
At the national level she chaired the New Zealand Securities Commission for over 9 years. During this period she was responsible for the setting of corporate governance standards in New Zealand and for the enforcement of standards of corporate behaviour through securities laws and financial reporting standards. The Commission returned many millions of dollars to investors as a result of enforcement actions over this period.
The Securities Commission also was responsible for the oversight of the only registered stock exchange in New Zealand, the New Zealand Stock exchange (NZX).
She chaired the board of the Commission, which consisted of 9 part time members and was responsible for the enforcement, supervision, policy, public education and other outcomes delivered by the Commission. Here too decisions were made by consensus and the management of conflicts and other governance matters were her responsibility as Chairman.
Over her career she has served on a diverse number of boards, in the public, private and not for profit sectors. Some examples are briefly outlined here to give some perspective on their diversity.
She served as a member of the Snowy Mountains Engineering Corporation, an entity fully owned at that time by the Commonwealth of Australia. She also served as a trustee of one of Australia’s largest superannuation funds, the State Superannuation Board of NSW.
She was Managing Director and a member of the board of the NSW Technical and Further Education Commission, overseeing a budget of $1.2 billion, delivering post school education in over 160 sites and with over 20,000 employees.
She was a Director of Westpac Project and Advisory services Limited, an investment banking subsidiary of Westpac Banking Corporation, engaged in financing infrastructure developments and public/private partnerships around Australia.
She served as President of YWCA of Sydney which ran a successful hotel whose profits funded a wide number of charitable projects and as Chairman of the Womens College Council at the University of Sydney.
Jane is recognised globally as a person who can achieve change in a complex environment.
She is seen as a thought leader, as a visionary yet practical and inclusive leader and team player in the areas of standard setting, corporate governance, capital markets, regulation and financial stability.