Governance Structure

The activities of the Reserve Bank of Australia are overseen by the following boards and committees.

Reserve Bank Board

The Reserve Bank Board is responsible for the Bank's monetary and banking policy, and the Bank's policy on all other matters, except for its payments system policy. The Governor, who is responsible for managing the Reserve Bank, is Chair of the Reserve Bank 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.

Audit Committee

The Audit Committee is a committee of the Reserve Bank Board. Its membership comprises two non-executive members of the Reserve Bank Board and two external members. The Committee is chaired by Alison Watkins, a non-executive member of the Reserve Bank Board.

Remuneration Committee

The Remuneration Committee is a committee of the Reserve Bank Board. Its membership is drawn from the non-executive members of the Reserve Bank Board. The Committee is chaired by Carol Schwartz, a non-executive member of the Reserve Bank Board.

Executive Committee

The Executive Committee is the key decision-making committee of the Bank for matters of a management and/or administrative nature that have strategic, Bank-wide or external significance. Its role is to assist and support the Governor in fulfilling his responsibilities under the Reserve Bank Act 1959 to manage the Bank. It is a management committee chaired by the Governor.

Risk Management Committee

The Risk Management Committee is responsible for ensuring that operational and financial risks are properly identified, assessed and managed across the Reserve Bank in accordance with the Bank's Risk Management Policy. It is a management committee chaired by the Deputy Governor.