Reshmi Singh Maharaj

Executive summary

Reshmi Singh Maharaj is a Director in the Risk Advisory Services team at BDO in Sydney, with more than 10 years of experience supporting financial services organisations across banking, insurance and superannuation.

She is a recognised leader in operational risk and compliance, with a strong track record in designing and delivering enterprise-wide risk management frameworks, embedding risk appetite statements, and uplifting governance and compliance practices in line with the Australian Prudential Regulation Authority’s (APRA’s) Cross-industry Prudential Standard 220 Risk Management (CPS 220) and Cross-industry Prudential Standard CPS 230 on Operational Risk (CPS 230).

Reshmi has deep expertise in implementing governance, risk and compliance (GRC) systems, conducting controls assurance reviews, and supporting clients in building resilient, regulator-ready risk transformation programs. She works closely with risk executives and operational teams to drive sustainable risk culture uplift across the three lines of accountability (3LOA).

Expertise

• Supporting clients in achieving compliance with CPS 230 through the uplift of operational risk, business continuity, and third-party risk frameworks
• Advising on the alignment of risk management practices with CPS 220 requirements, including governance, risk appetite, and oversight
• Identifying, assessing, and managing operational risks across financial services organisations
• Leading enterprise-wide risk transformation programs and initiatives that enhance resilience, efficiency, and regulatory readiness
• Implementing and optimising Governance Risk and Compliance (GRC) platforms and systems to strengthen risk governance, streamline reporting, and support compliance.

Experience

• CPS 230 Operational Risk Management: leading gap analysis and implementation activities for multiple financial services clients to assess priority uplift areas under CPS 230. Developing detailed program plans and implementation schedules to address identified gaps and ensure compliance
• CPS 220 Risk Management: leading CPS 220 reviews for Australian banks, global banks, insurers, and foreign authorised deposit-taking institutions (ADIs), driving stakeholder engagement, developing methodology, and delivering key insights and recommendations to uplift risk frameworks
• Operational risk: leading operational risk projects for Australia’s largest banks, global insurers, and foreign ADIs. Developing methodologies to assess operational risk frameworks, conducting executive-level workshops, and identifying key observations and recommendations for uplift. Reshmi’s expertise spans risk governance, control assurance, and embedding operational risk practices across the three lines of defence
• Risk transformation programs: leading and supporting major risk transformation programs across large financial institutions, including developing risk frameworks, control assurance programs and 3LOA models. She brings deep expertise in managing complex projects and engaging senior stakeholders across global banks, insurers, and foreign ADIs
• Governance risk and compliance (GRC) systems: implementing and optimising GRC systems for large financial institutions, including designing and integrating risk, control, incident and breach reporting modules. Supporting enterprise-wide rollouts, leading training programs, and ensuring alignment with regulatory requirements to enhance governance, streamline risk reporting, and strengthen compliance processes.

Qualifications and affiliations

• Bachelor of Commerce (Major in Commercial Law and Accounting).