New head of risk appointed

AustralianSuper has promoted Andrew Mantello to chief risk officer, replacing Paul Schroder who now runs the country's largest superannuation fund.

A lawyer by training, Mantello has been with the $225 billion industry fund for ten years and was recently head of emergent risks. As part of this role, he provided strategic guidance on the future risk landscape and led the super fund's work on understanding and measuring risk culture.

Before that, he managed the investment finance and legal team.

Commenting on the promotion, Schroder said Mantello was ideally placed to lead the fund's group risk function.

"Andrew is highly capable with wide experience, and he will make a great contribution to member outcomes as CRO," Schroder said.

Mantello added: "The AustralianSuper board and executive team have committed to investing in continuously strengthening the fund's approach to risk management and culture as we continue to grow and serve members."

"The group risk function at AustralianSuper ensures the right culture, structure, and practices are in place so that we can help members achieve their best financial position in retirement."