Allianz Australia has appointed Tara Laybutt to take over as Chief Risk Officer from Lori Callahan, who is retiring after 18 years with the company.

Ms Laybutt joins from Deloitte, where she is a Partner, Risk Advisory, responsible for teams servicing global financial services businesses. Previously she spent more than four years at Westpac, where her roles included acting chief audit executive.

“Tara’s diverse background across compliance, audit, financial and operational risk management, combined with her integrity and commonsense approach to governance and risk, makes her a trusted advisor in the financial services sector,” Allianz MD Richard Feledy said.

Ms Callahan has held the CRO role since late 2017 and has led marketing, data and digital teams. She has also been GM claims.

The appointment is effective May 11.