Who we are

On this page

The Australian Financial Security Authority (AFSA) is an executive agency in the Attorney-General’s portfolio.

We manage the application of bankruptcy laws and the personal property securities register within Australia. Our work supports improved community and financial outcomes for consumers and business.

Our roles

AFSA fulfils the following statutory roles created by the Bankruptcy Act:

Inspector-General in Bankruptcy

AFSA’s Chief Executive is also appointed as the Inspector-General in Bankruptcy. The Inspector-General is responsible for the general administration of the Bankruptcy Act and has powers to regulate bankruptcy trustees and debt agreement administrators, review decisions of trustees and investigate allegations of offences under the Bankruptcy Act.

Official Receiver

On behalf of the Official Receiver, AFSA operates a public bankruptcy registry service with compliance and coercive powers to assist bankruptcy trustees to discharge their responsibilities.

Official Trustee in Bankruptcy

The Official Trustee in Bankruptcy, a body corporate created under the Bankruptcy Act, administers bankruptcies and other personal insolvency arrangements when a private trustee or other administrator is not appointed. AFSA provides personnel and resources to ensure that the Official Trustee can fulfil its responsibilities. The Official Trustee also has responsibilities under the Proceeds of Crime Act 2002 and the Customs Act 1901 to control and deal with property under court orders made under those statutes.

The Personal Property Securities Act (PPS Act) creates the role of:

Registrar of Personal Property Securities

The Registrar maintains the PPSR in compliance with the PPS Act and associated regulations. This includes responsibility for ensuring the register is operational and accessible. The Registrar has various powers in relation to the PPSR, such as refusing access to the PPSR or suspending its operation, in certain circumstances; removing or reinstating data on the PPSR; and conducting investigations into matters to perform their functions.

We also take a role in:

  • Proceeds of crime and special administrations

  • Regulation and enforcement within the personal insolvency industry.

Statutory appointments

We publish the details of AFSA’s statutory appointments made outside the Public Service Act 1999 as per the requirements for the Information Publication Scheme (IPS) under the Freedom of Information Act 1982.

Position 

Officeholder 

Term 

Appointed by 

Act and section under which appointment made 

Inspector-General 

Timothy Beresford 

From 2 May 2022 for 5 years 

Attorney-General 

Section 16 Bankruptcy Act 1966 

Official Receiver 

Sharyn Faulkner 

From 8 November 2021 - no fixed term 

Assistant Minister to the Attorney-General 

Section 16 Bankruptcy Act 1966 

Acting Official Receiver 

Gemma Denton 

From 7 February until 31 December 2022 

Inspector-General 

Subsection 17(2) Bankruptcy Act 1966  

Registrar of Personal Property Securities 

Timothy Beresford 

From 2 May 2022 for 5 years 

Attorney-General 

Section 194 Personal Property Securities Act 2009 

Our structure

The Australian Financial Security Authority is an executive agency in the Attorney-General’s portfolio.

Our executive

Chief Executive, Inspector-General in Bankruptcy and Registrar of Personal Property Securities

Tim Beresford joined AFSA in May 2022. He held the position of Deputy Chief Executive of Global Client Services at Austrade since 2018.

Tim was also employed at Austrade between 2011 and 2016 where he held Deputy Secretary positions in the areas of Tourism, Investment Education and Programs, and Australian Operations. Prior to re-joining Austrade in 2018, Tim was Chief Operating Officer and Deputy Vice Chancellor of Macquarie University. He served in the Department of the Prime Minister and Cabinet in 2010 and held senior roles with Westpac between 2003 and 2008.

He holds a Bachelor of Economics, Bachelor of Laws, a Masters of Philosophy (International Relations) and is a Fellow of the Australian Institute of Company Directors.

Deputy Chief Executive

Gavin McCosker joined us in 2009 and until January 2016, was our Chief Operating Officer. In this role, Gavin oversaw our corporate support teams including Finance, People and Capability, Information and Communications Technology Services, Client Services and national administration and governance functions.

Gavin has held statutory roles of Official Receiver, PPS Registrar, Deputy PPS Registrar and has regularly acted in the role of Inspector-General of Bankruptcy and Chief Executive. He was the senior executive responsible for defining our approach to the development of organisational strategy. Gavin also maintained responsibilities as Chief Audit Executive and Agency Security Executive.

In January 2016, Gavin transferred to take up the position of Senior Financial Sector Specialist with the International Finance Corporation (IFC), an arm of the World Bank. In November 2017, Gavin returned to AFSA as our Chief Operating Officer/Deputy Chief Executive.

Gavin holds Masters of Business Administration and Bachelor of Commerce degree and is a member of the Australian Institute of Company Directors.

National Manager Enforcement and Practitioner Supervision

Paul Shaw is the National Manager, Enforcement and Practitioner Supervision and joined AFSA in September 2013.

Before joining AFSA, Paul had a lengthy career in the Office of the Commonwealth Director of Public Prosecutions (CDPP). Most recently he worked as the Assistant Deputy Director with the CDPP’s Sydney office where he was part of the executive group of the organisation and his responsibilities included liaison with key stakeholders.

Paul has conducted high level prosecution work arising from referrals from AFSA, ASIC and the ACCC and is very familiar with the role of Australian Financial Regulators, including AFSA.

Paul has a Bachelor of Arts degree, with a major in economics and financial studies, and a Master of Laws.

National Manager Strategy and Planning

Amanda Rice joined AFSA in 2011 as a Team Leader of the Personal Property Securities Register (PPSR) Team. She worked with teams from AFSA and the Attorney-General’s Department to develop and implement the Personal Property Securities Register (PPSR) System. She established AFSA’s enterprise capability office and project governance framework, and most recently, oversaw the digitisation of AFSA’s services as Director Digital Transformation.

Before joining AFSA, Amanda held various positions at Telstra and ANZ Bank.

Amanda holds an MBA from the University of South Australia and is a member of the Australian Institute of Company Directors. 

Acting National Manager, Service Delivery

Genene Bageas joined AFSA in 2010 to establish the operational support for Personal Property Securities (PPS) and manage the commencement of the Personal Property Securities Register. She has had a strong focus on digital service delivery and stakeholder management, and most recently was Director of the PPS Program.

Prior to joining AFSA Genene held various positions within the private sector with a focus on service delivery and service improvement.

Genene holds a Bachelor of Arts: Communications.

Chief Operating Officer and National Manager Corporate Services

Annie Ryan joined AFSA in 2022 as the Chief Operating Officer.

Prior to working at AFSA, Annie worked for the Department of Foreign Affairs and Trade where she held several roles in the Finance Division at DFAT, including Assistant Secretary of the Budget and Policy Branch, and the Financial Services and Transformation Branch.

Annie has extensive senior leadership experience across federal government agencies and more than 15 years’ experience in finance, governance and risk, and is a recognised leader of transformational and digital change.

She holds a Bachelor of Commerce (Accounting), a Master of Taxation and a Master of Technology. Annie is also currently studying to attain a Master of Financial Technology.

Chief Information Officer and Program Director Service Modernisation

Greg Cassis joined AFSA in 2022 as Chief Information Officer and Program Director Service Modernisation.

Prior to joining AFSA Greg was the Program Director, Transformation at St Vincent’s Health Australia, where he was responsible for driving business and technology transformation. Greg has a strong history of leading operational teams and delivery of transformation programs in organisations including Wesfarmers, where he was the General Manager of Technology, and in leadership roles at Suncorp and Westpac.

Greg has a Master of Business Administration.

National Manager Government Business

Elyse Herrald-Woods joined AFSA in 2022.

Prior to joining AFSA, Elyse worked for the Department of Climate Change, Energy, the Environment and Water where she led on the Water Market Reform Implementation.

Elyse has also held senior executive roles in the National Recovery and Resilience Agency, and Department of Agriculture, Water and the Environment.

Elyse holds a Bachelor of Business (International Business), Bachelor of Development Studies (Economic Development and Globalisation), and a Master in Government and Commercial Law.