The Victorian Funds Management Corporation has appointed a new chief operating officer and a new head of finance and risk.
Lucy Carr has been promoted to head of operations after serving as VFMC's head of risk for three years.
Carr has worked at AXA, EY, and Vanguard, where she led functions including human resources, enterprise risk management, and fund financial services.
Following Carr's appointment as operations chief, VFMC chief executive Kate Galvin reshaped VFMC's leadership team portfolios and introduced a new executive role to oversee the organisation's finance, risk, compliance, and legal portfolios.
Incoming chief risk and finance officer, Paul Shanley joins VFMC from Impact Investment Group, where he was chief executive officer.
He also brings a further 20 years' experience in finance, tax, and operational roles with Australian Unity, JBWere, and Aviva.
Commenting on the appointments, Galvin said she was delighted Carr was stepping into the chief operating officer role citing Carr's deep knowledge of the quasi-sovereign wealth fund and her strong track record in operations, risk management, and leadership.
"Lucy's appointment demonstrates the incredible depth of talent we have at VFMC and our commitment to supporting career pathways for our people across all levels," she said.
Commenting on her new role Carr said she was "excited" to embrace a new opportunity to lead and learn from VFMC's diverse and high-performing operations team.
"It's a privilege to remain part of the VFMC team and continue to deliver against our strategic agenda, including the constantly-evolving investment operations and digital and technology portfolios," she said.
Galvin said Shanley's breadth of experience across the services industries would bring a unique perspective to VFMC's executive leadership team and support the organisation to deliver on its long-term goals.
"Paul appreciates the value of delivering strong financial returns alongside measurable environmental, social, and governance benefits, which is closely aligned to our purpose and our role as a responsible steward of capital," she said.