Against all odds: Sheena Jack

Growing up in the remote mining town of Broken Hill in New South Wales, HCF CEO Sheena Jack learned early on that success isn’t handed to you – it’s something you create. Surrounded by the challenges of regional life, she witnessed firsthand the struggles her community faced in accessing essential services, particularly in healthcare.

"Those early experiences planted a seed in me, sparking a passion to make healthcare more equitable and accessible," Jack tells The CEO Magazine.

"While I didn’t know it at the time, that seed would grow into a career dedicated to driving change. It’s a journey that ultimately led me to HCF, where our mission to deliver understandable, affordable and high-quality healthcare aligns so perfectly with my own values."

Jack’s career began at Ernst & Young, seeing her progress through leadership roles in State Super Financial Services, IAG, ClearView Wealth Limited and MBF.

"When I started in accounting in the early 1990s, I often found myself as the only woman in the room," she explains.

"Those moments were daunting, but they also fueled my determination to carve a path not just for me but for the women who would come after me."

They also paved the way to HCF, where she stepped in as Chief Financial Officer nearly 20 years ago. Instead of just another role, it felt like a kind of homecoming for Jack.

"Joining HCF was a full-circle moment for me," she says with a smile. "It has enabled me to help shape healthcare and communities for the better."

Healthcare disrupted

HCF is Australia’s largest not-for-profit health fund. With no shareholders to answer to, the organization is able to focus on what matters – putting the health and wellbeing of its more than two million members first.

"We’re able to help people not just within our organization and the HCF Research Foundation but through partnerships like those with the Royal Flying Doctor Service and The Smith Family," Jack points out.

As the Deputy Chair of Private Healthcare Australia and Director of the Business Council of Co-operatives and Mutuals, Jack is proud of her many achievements. At HCF, not only has she prioritized member satisfaction and value, but the organization has achieved remarkable industry recognition, including a nine-year streak as Canstar’s Outstanding Value Health Insurance Award winner.

Even more, under her leadership, membership has surged, growing 1.2 times faster than the industry average. And innovations like HCF Catalyst, Australia’s first corporate-backed health tech accelerator, and Flip, the country’s first on-demand accident insurance product, have disrupted the entire landscape, providing meaningful solutions to challenges like access to care, preventative health and affordability.

Jack has also overseen the growth of HCF’s Dental and Eyecare Network as well as the launch of the HCF Thank You loyalty program, which is the first of its kind in the industry.

"What makes these achievements so meaningful to me is that they all center on improving people’s wellbeing," she notes.

"I’ve always believed health insurers should do more than just process claims – they should be active partners in helping people live longer, healthier lives. At HCF, I’ve worked to embed this philosophy in everything we do, from the products we develop to the services we provide."

Driving lasting change

Ultimately, these achievements reflect the heart of Jack’s leadership philosophy of putting people first.

"Leadership that prioritizes people is leadership that drives lasting change," she says. "It isn’t about titles – leadership is about impact, and the impact we make today will shape the world tomorrow."

In a world that demands resilience, Jack has carved out a sense of purpose that extends beyond the confines of her industry, fostering an environment where women and underrepresented groups can thrive.

"At HCF, we’re creating an environment where diverse voices are celebrated and everyone, regardless of background or gender, feels they can make an impact," she confirms.

"The focus isn’t on mirroring men. It’s on valuing the differences our gender brings to the conversation and various ways of working. Here, every role is important, and every voice is valuable."

HCF also champions women through initiatives like the Chief Executive Women program, which provides mentorship, shared purpose and camaraderie to help women rise into leadership roles.

"It’s one way we’re actively building pathways for the next generation of female leaders," Jack points out, before sharing another initiative that brings her great pride – the Culturally and Racially Marginalized Women Leadership (CARM) program.

"It’s designed to empower women from diverse backgrounds to step into leadership roles and change the conversation from within.

"Through my roles, I’ve seen how collective action can drive transformative change. Together, we can build a future where everyone, regardless of gender or background, has the opportunity to thrive."

The path to gender parity

While Australia is making significant progress toward improving gender parity, ranking 24th out of 146 countries in The World Economic Forum Global Gender Gap Index, there’s still a long way to go. The report reveals that, at the current rate, it will take 134 years to achieve gender parity across the globe.

Jack, for one, says she’s personally taking active steps to move the needle.

"True gender parity requires a holistic approach that goes beyond representation. It’s about breaking down systemic barriers, rethinking workplace culture and ensuring equal opportunities for everyone," she says.

"This includes addressing unconscious bias in hiring and promotion, providing leadership pathways that reflect diverse experiences and creating policies that support work–life balance for all employees."

At HCF, for example, Jack says the company’s parental leave policies encourage men to share the caregiving responsibilities equally, helping to normalize flexibility for everyone.

"It’s crucial that we remove the stigma around flexible work because it benefits both women and men," she says. "When everyone has the opportunity to succeed, it leads to better outcomes for all.

"Beyond policy, we must also actively advocate for diversity in leadership, mentor upcoming talent and challenge traditional structure. I’m proud to lead a team where collaboration and equity drive decision-making. And I remain committed to mentoring the next generation of leaders who can build on this vision."

A piece of advice

As a leader committed to shaping the future, Jack continues to extend her hand to help other women rise. Breaking through the glass ceiling wasn’t just a personal achievement – it was a step toward creating new opportunities for those who follow. And she has some good advice for the next generation of women leaders.

"Get comfortable with ambiguity. And above all, stay curious," she says.

"Remember, leadership isn’t about having all the answers – it’s about asking the right questions and creating a culture where everyone feels empowered to find solutions together. So, stay true to your values and never underestimate your ability to create positive change."