Industry super fund Rest eyes AWS to build ‘new cloud foundation’

Former Vocus CTO to lead IT team at superannuation fund

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Industry superannuation fund Rest is preparing to implement a “new cloud foundation” employing Amazon Web Services “to provide speed and flexibility,” according to group executive of innovation and transformation, Jeremy Hubbard.

Hubbard yesterday announced the appointment of Simon Smith as general manager, technology.

“Simon’s extensive experience in strategic technology and digital leadership roles will be invaluable as we continue to improve our existing digital customer experience,” Hubbard said in a statement.

Until March this year Smith was chief technology officer for telco Vocus. He’s previously held CTO and CIO positions at Vix Technology, Qantas, Lumo Energy, News Digital Media and AAPT.

“Technology is crucial in helping our members engage with their super on their own terms earlier and more often – and, therefore, achieve their personal best retirement outcome,” Hubbard said.

“One of Rest’s strategic priorities is to further invest in technology and data to continue building outstanding customer service for our members.”

Hubbard said that increased automation would be employed to help boost Rest’s “speed to market while maintaining robust security protocols and quality standards.”

Hubbard joined Rest in April this year to lead the newly created innovation and transformation team, which includes strategy and planning, IT management, innovation, and data governance.

“The innovation and transformation team will provide strategic planning and oversight for our whole organisation, helping all our teams work together to deliver a seamless and consistent experience for members and employers,” Rest CEO Vicki Doyle said at the time.

Hubbard was previously general manager, digital and innovation, at NAB subsidiary UBank.

APRA, which oversees superannuation funds as well as banks and insurers, last year signalled a greater openness to the use of cloud technology by regulated entities.

“When APRA released its first information paper on the subject in 2015, we expressed reservations about the use the cloud for initiatives with heightened or extreme inherent risk,” APRA chair Wayne Byres said in a September 2018 speech.

“Much has changed since then: Cloud service providers have strengthened their control environments, increased transparency regarding the nature of the controls in place, and improved their customers’ ability to monitor their environments.

“APRA-regulated entities have also improved their management capability and processes for assessing and overseeing the services provided.”

Consequently APRA issued updated guidance on the use of cloud (PDF). That guidance states that the regulator doesn’t expect regulated entities to consult with APRA before using cloud services for applications that involve low inherent risk.

Where use of cloud involves “heightened or extreme inherent risks” APRA encourages consultation before a regulated entity enters into an arrangement.

Copyright © 2019 IDG Communications, Inc.

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