FSA appoint director of business review and audit revision

Rosemary Hilary has been appointed director of the business review and audit division at the Financial Services Authority, and will take up her appointment on September 4.

Hilary, who is currently head of the FSAs risk review department, will report to John Tiner, FSA chief executive, with a further reporting line to the chair of the Audit Committee of the FSA board.

John Tiner, FSA chief executive, says: “Internal audit is a vital function in an organisation of our size and complexity, and particularly so given the FSA’s remit of supervising risk across the financial services industry. I am delighted to be able to appoint such a well-qualified candidate as Rosemary. It is also a testament to the talent within the FSA that we have the internal people available to fill such an important role.

“Rosemary has considerable experience of regulation at the FSA and previously at the Bank of England, having worked in several areas of our operations. She brings substantial understanding of the risks run by firms, a strong sense of independence on the execution of the role and an appreciation of where internal audit can add value across the FSA.

“As director of BRAD, Rosemary Hilary will be responsible for providing objective assurance to the FSA Board and senior management that a sound risk management framework and a system of internal controls are in place and operating effectively at the FSA. This will involve undertaking independent reviews and working with Ernst & Young, who provide specialist internal audit resource to the FSA.”