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October 25, 2022

PCAOB appoints first COO

The Public Company Accounting Oversight Board (PCAOB) has appointed James McNamara as the organisation’s first-ever chief operating officer. In this role, McNamara will focus on improving the PCAOB’s organisational effectiveness.

McNamara will also serve as the chief administrative officer of the PCAOB and oversee its Office of Administration, including the Office of Human Resources, the Office of Finance, the Budget Office, and the Facilities department.

Improving organisational effectiveness is one of four key goals identified by the Board in its draft strategic plan. McNamara’s appointment is expected to a step toward achieving this goal, under which the PCAOB will aim to improve the employee experience and to empower PCAOB staff to advance the organisation’s investor-protection mission.

PCAOB Chair Erica Williams stated: “Jamey has a tremendous amount of experience and expertise managing people, budgets, and operations in the financial regulatory environment. His knowledge and leadership will be crucial for the PCAOB as we carry out our strategic commitment to improving our organisational effectiveness for the benefit of investors.”

Before joining the PCAOB in October 2022, McNamara spent nearly four years as the chief human capital officer and the director of the Office of Human Resources at the U.S. Securities and Exchange Commission (SEC). In that capacity, he led the strategic management of the SEC’s human capital programs and policies in areas including recruitment, retention, leadership and employee development, total rewards, and work/life programmes.

On his appointment, McNamara commented: “The PCAOB has an essential mission and an outstanding staff that I am honoured to join. I look forward to seeing what we will accomplish together as we rededicate ourselves to improving how the PCAOB operates.”

Prior to joining the SEC’s Office of Human Resources, McNamara’s roles at the SEC included managing executive for the Division of Trading and Markets, as well as assistant director for planning and budget, budget officer, and branch chief for Budget Formulation and Performance Management, all in the SEC’s Office of Financial Management.

McNamara started his federal career at the U.S. Department of Justice, where he held positions in human resources management and budget formulation. He received his bachelor’s degree from Brown University.

With McNamara’s appointment, Holly Greaves has transitioned back to her primary role as the PCAOB’s chief financial officer.

On this, Williams commented: “Since 2020, Holly has gone above and beyond for the PCAOB in serving as both our CFO and Acting Chief Administrative Officer. We are fortunate to have her on our senior team, and we thank her for her steady leadership.”

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