There is a new chief risk officer at the Australia-headquartered bank, a critical role at a time when banks in the country are under regulatory scrutiny.

Australia and New Zealand Banking Group has appointed Kevin Corbally as chief risk officer, reporting to chief executive Shayne Elliott. Corbally takes over from Nigel Williams, who is retiring from ANZ to pursue a career as a non-executive director.

Corbally joined ANZ in 2009; most recently, he has been general manager for internal audit after having previously held senior institutional banking and credit management roles. Prior to joining ANZ, he was managing director and head of corporate and commercial banking at Citigroup in Australia & New Zealand.

In his new role, taking effect as of 19 March, Corbally is based in Melbourne.

The roel of a chief risk officer is critical at a time when banks in Australia are facing an inquiry into their practices over recent years, as reported here.