Regulatory Update August 2024
Read full article The new financial year has seen a range of updates to financial services regulation and administration. Here we summarise the important ones so you don’t have to, and share our views on them. APRA Prudential Handbook APRA has finalised its new prudential framework (23 July 2024) which includes the digital prudential handbook […]
CPS230 Check in: How does your progress stack up?
Read full article With the release of Apra’s Practice Guide CPG230 – Operational Risk Management, the CPS230 regulatory framework has now been finalised making it an opportune time to take stock on where you are up to in your CPS230 journey. The implementation of CPS230 is a marathon, not a sprint, and it is vital […]
Operational Risk Management – Top tips on CPS230
In this article on the implementation of APRA’s new operational risk standard, Daniel Frank, Madeleine Mattera, Jane Byrne, and Jules Gribble map out a pathway for successful implementation. We note that: Read full article
The road to recovery or an exit strategy?
APRA is finally addressing one of the biggest lessons learned from the GFC: the failure of firms to plan for the worst while still expecting public support to ride out a crisis. To fix this situation, APRA has introduced new recovery and exit planning requirements to ensure that regulated businesses make plans to rebuild their […]
APRA’s Guide for Directors
What do Directors, CEOs and Executives need to know? APRA’s recently released Guide for Directors is a must read for financial institution Directors, CEOs & Executives. This is a timely reminder that governance remains an important focus for APRA. While aimed at ADIs, the Guide contains cross industry obligations equally applicable to Insurers and Superannuation […]
CPS 230 The journey towards resilience
CPS 230 The journey towards resilience In this article, we aim to improve your understanding of APRA’s proposed CPS 230 Operational Risk Management and the journey of risk maturity that Boards and Management will need to take to enhance operational resilience and value.
The Special Needs of Financial Services Boards
The Special Needs of Financial Services Boards Was the misconduct in financial services enabled by directors who did not understand their businesses? This is the topic of a thought-provoking paper produced by PFS Principal Ian Laughlin and actuarial colleague Barry Rafe. Many recent reviews into the financial services industry have identified widespread and systemic misconduct. […]
Risk Management Implications of Coronavirus (COVID-19) for Non-Executive Directors
PFS Principal Ian Laughlin is a member of a Working Group of the Actuaries Institute that has prepared this paper for the Institute’s Pandemic Resource Centre. It is aimed at assisting Non-Executive Directors, particularly in financial services, on the risk management implications of the COVID-19 pandemic. Contact Ian Laughlin at ianlaughlin@pfsconsulting.com.au to find out more. Pandemic Briefing […]
