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The major brokerage has made two additions to its compliance division ahead of the implementation of best interests duty for mortgage brokers.
Loan Market has announced that it has appointed Kali Jurkschat as senior manager of risk transformation and William Jewitt as head of compliance and operations.
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According to the brokerage, the appointments have come in a bid to bolster the compliance team, as it looks to apply a “unified” operations process for brokers to be compliant with the best interests duty (BID).
Ms Jurkschat was previously the business improvement lead at UBank, while Mr Jewitt was a business development manager at Westpac before joining Loan Market.
Commenting on the appointment of Ms Jurkschat, David McQueen, chief compliance and regulation officer at Loan Market, said: “With a fintech background gained at UBank, Kali offers that blended experience of lender technology and customer experience.”
Mr McQueen said Mr Jewitt’s background in product development and its application would be beneficial to his new role with the brokerage.
“His end-to-end risk management expertise will be well utilised, and his data management skills will open up AI audit opportunities for us that both protect and create efficiencies within brokers’ businesses,” Mr McQueen said.
Mr McQueen, who was formerly the head of strategy and business performance (mortgage distribution) at Westpac, joined Loan Market as its first chief compliance and regulation officer in January this year.
The new role was specifically created to prepare for policy changes, including those outlined in the National Consumer Credit Protection Amendment (Mortgage Brokers) Bill 2019 and its associated BID obligations.
In May, the Australian Securities and Investments Commission announced that the introduction of BID will be delayed to 2021 to allow industry participants to focus on managing the economic effects of the coronavirus pandemic.
The BID was initially slated to come into effect on 1 July 2020.
[Related: Loan Market grows broker network]
