ASFA adds operations veteran to board

The industry body is adding 25 years of financial services experience to its leadership team with a new appointment.

The Association of Superannuation Funds of Australia (ASFA) has announced the appointment of Vanguard Super’s Rachel Reynolds, head of operations, as a new director to its board.

According to the industry body, Reynolds, in her current capacity, is responsible for enabling the delivery of a superior member experience through partnerships with Vanguard Super’s providers.

ASFA chair Gary Dransfield welcomed her to the team.

“We are delighted to welcome Rachel to the ASFA board, where her wealth of experience and innovative vision will be invaluable as we continue the work of uniting the superannuation system, and helping Australians enjoy a dignified retirement,” Dransfield said.  

Reynolds brings 25 years of experience working in senior operational roles across the financial services sector, including in superannuation, financial advice and insurance.

Prior to joining Vanguard, she had a five-year stint as executive manager for operations at CareSuper, and before this, was an operations manager at Guild Group.

“I am delighted to join the ASFA board and look forward to working alongside like-minded individuals in supporting Australians in having confidence and security in retirement,” Reynolds said.

ASFA chief executive Mary Delahunty added: “ASFA is fortunate to have a diverse membership spanning the breadth of the superannuation ecosystem.”

“I’m looking forward to working with Rachel, as a representative of Vanguard Super, as we continue to support our members through research, advocacy, education and collaboration.”

Speaking to Super Review last week, Delahunty gave her two cents on reports emerging that shadow treasurer Angus Taylor is contemplating dismantling Australia’s compulsory super system to align it with global retirement schemes, particularly the US 401(k) model – a voluntary framework that has stirred controversy.

“The Coalition has started by aligning superannuation with other global retirement schemes – like 401k – that allow withdrawals for the purpose of purchasing a first home,” Taylor said at a recent event in Sydney.

According to Delahunty, Taylor’s sentence was clearly taken out of context.

“The full sentence makes it clear that that reference to the substandard American system is drawing a comparison to the Coalition’s policy on early access,” she said. “Broadly, it’s not Coalition policy.”

The CEO added that conversations ASFA has had with the Coalition reveal its awareness of the superannuation system’s role in Australia’s economic stability.