Karen Davis Email and Phone Number

Consultant to the Board of Perpetual Equity Investment Company Limited

Consultant to the Platforms business. Worked with key stakeholders across the Platforms business to design and document the future state operating model to support the business strategy.

* Established the Integration Program supporting the acquisition of Pendal Group Limited and the delivery of synergies. This involved establishing multiple program work streams and governance covering the Group’s six asset management boutiques operating across Australia, Asia, UK, Europe and the US.* Designed the organisation’s future state Operating Model across all elements including people, processes, technology, data & analytics, service delivery and governance. * Designed and established the Data Program to support integration and utilisation of data across the company.

Reporting into the Chief Operating Officer, responsible for key strategic projects and proactive engagement across the business to develop and drive the strategy across the Perpetual Client Solutions (PCS) division which encompassed Product, Technology, Operations (including Client Services), Strategic Partnerships and Project Delivery. This included monitoring progress against the strategy, development of the business plan and performance scorecard and defining key business metrics.

* Responsible for the development and launch of Perpetual’s first Exchange Traded Products on the Australian Stock Exchange, including the establishment of new vendor relationships and the supporting operating model.* Successfully lead large regulatory change programs including the removal of Conflicted Remuneration and implementation of Design and Distribution Obligations across the Group.* Raised $50m in capital for the Perpetual Group via a Share Purchase Plan that was well oversubscribed at $68.3m (with an original $40m target) and raised over $30m in capital for the Perpetual’s listed investment company, Perpetual Equity Investment Company Limited as well as uplifting investor relations activity.* Responsible for product strategy, development and management across Perpetual’s investment products, including investor relations for listed products. Development and maintenance of product policies and procedures and establishment of the enterprise Product Governance Framework and global Product Governance Forum. Project owner and lead of projects spanning across the product team including new product development and regulatory change. This included the launch of Perpetual’s first Exchange Traded Managed Funds.** While in this role, I also spent 18 months as Divisional Business Manager to the Chief Operating Officer and 6 months leading the wider Investments Product team while a colleague was on parental leave. Both roles were in addition to my existing role.

Product strategy, development, management and investor relations responsibilities for Perpetual’s listed products, including board reporting, communication to shareholders / unit holders, responding to shareholder enquiries and coordination of activities for half year and annual results and the Annual General Meeting.

* Implemented a new approach to risk management across the entire Retail Bank involving thematic risk reviews and a new approach to risk and control ownership, which was then adopted across the CBA Group. * Developed a new operating model for line 1 risk management, including the establishment of a central team to improve the quality and consistency of risk management across the Retail Bank.* Enhanced risk reporting and insights provided to management and governance committees, including reporting for the Retail Bank Biannual Control Reviews and the Board Audit Committee.

* Developed, lead and implemented the CEO sponsored cultural change program to embed CBA’s vision and values across the organisation with regular engagement with the CBA Board, CEO and Executive Committee.* Implemented a new performance framework and reward and recognition program including values assessment. * Created a vision and values dashboard providing insight into progress against the vision and each of the values. * Developed and implemented a new ‘code of conduct’, including an e-learning program improving clarity to employees on behavioural expectations and a clear framework for decision making – can we, should we.* Developed a new employee engagement survey, underpinned by values-based questions to measure progress and feed into the vision and values dashboard.* Created and deployed vision and values workshop facilitation materials across the Group to drive values conversations on speaking up and balancing stakeholder outcomes.

* Developing and executing the business strategy, determining priorities and implementing strategic initiatives. Providing advice and support to the CEO and business stakeholders on complex matters. Leading key strategic projects, including negotiating critical strategic agreements. Building and implementing the internal and external communications strategy and developing and executing Count’s advocacy strategy and strategic stakeholder engagement with key industry bodies.* Developed and successfully executed Count’s first business plan post CBA acquisition, resulting in significant improvements in adviser engagement and growth in funds under advice.* Led the implementation of Future of Financial Advice reforms across Count’s business, including identifying policy, process and system changes required across the business and executing the change management and communication plans. Conducted a plenary session at Count’s annual conference to around 800 attendees. * Developed several thought-leadership articles and white papers that were published across a range of media including the Australian Financial Review, Money Management, Financial Standard and Professional Planner.* A key member of the team that renegotiated and executed new pricing across Count’s approved platforms.

* Secondment for approximately 6 months. Responsible for leading a team of advice professionals to develop, enhance and deliver advice processes and services to improve the efficiency of advisers. This included a team of para-planners, a contact centre and product team to manage the relationship with various product providers.* Identified inefficiencies and opportunities for improvement in the services provided by the team and restructured the team to better support advisers. Process efficiencies resulted in a return to operating within Service Level Agreements and positive feedback from advisers.* Lead the contact centre through the successful transition to a new telephone system.

Developing and coordinating the Wealth Management Advocacy Strategy and Plan by identifying issues / business inhibitors and proactively advocating for change across the superannuation, insurance, asset management and advice industry. Identifying, developing and facilitating agreement on responses to regulatory change and drafting submissions to government, regulators etc. Representing the business through various industry bodies and providing advice and presenting to boards and senior management on the potential impacts of regulatory reform.

Managing the CBA Group’s relationship with the Australian Prudential Regulation Authority (APRA), including providing advice on the nature and impact of APRA requirements and monitoring and tracking all issues and reviews to ensure timely follow up and action.

Leading the compliance function and presenting to life and general insurance company boards and audit committees. Leading the implementation of the Financial Services Reform legislation, including preparation of the licence application and proof documentation.

Responsible for compliance across the life and general insurance business of CommInsure.

Hired to develop and implement a Compliance Management Framework across the organisation in response to an ASIC enforceable undertaking.

Responsible for supervision of superannuation funds, life and general insurance companies and credit unions.