Newspaper icon
The latest issue of Financial Standard now available as an e-newspaper
READ NOW

Search Results

Showing 51 - 60 of 224 results for "operational risk"

Prime Super refreshes executive lineup

ELIZABETH FRY  |  FRIDAY, 29 NOV 2024
... manager of operations after joining Prime Super as a risk manager three years ago. He was promoted to head of operational risk and governance two years later. Ning Yang has been promoted to general manager of finance. She arrived in 2018 as the finance ...

Commonwealth Super partners for admin uplift

JAMIE WILLIAMSON  |  WEDNESDAY, 27 NOV 2024
... mitigating any key risks. "Consolidating our systems into one administration platform will reduce complexity and operational risk while enhancing the support we provide to our members." Meantime, Novigi chief executive Ash Priest said the group is proud ...

ASX appoints interim chief risk officer

MATTHEW WAI  |  MONDAY, 18 NOV 2024
... She brings deep skills and experience across all risk management asset classes and has a strong background in operational risk within the financial services sector." "This appointment will support our ongoing work to strengthen and improve risk culture ...

Link between super and banking major priority in 2025: APRA

ELIZA BAVIN  |  MONDAY, 11 NOV 2024
... stress between super funds and banks, and how their response impacts asset markets." McCarthy Hockey said an operational risk component will be added to the scenario to further the dislocation caused by the market disruption. She added that the test ...

Operational risk reserve targets trimmed for larger funds

JAMIE WILLIAMSON  |  THURSDAY, 24 OCT 2024
Following consultation, APRA has lowered the minimum operational risk financial requirement (ORFR) target amounts for larger superannuation funds. At present, all superannuation funds are expected to keep a minimum of 0.25% of funds under management ...

Lack of talent challenging DDO compliance

JAMIE WILLIAMSON  |  MONDAY, 23 SEP 2024
... compliance, operational due diligence skills, product skills, IT risk skills, GRC implementation experience or operational risk consolidations of business operations within funds... a super fund will have insurance, wealth products, financial advice ...

ANZ hit with $250m capital penalty

ELIZA BAVIN  |  FRIDAY, 23 AUG 2024
... APRA said it has longstanding concerns with ANZ's non-financial risk management, having imposed a $500 million operational risk capital add-on to the bank in 2019 to reflect deficiencies in its risk governance. That capital add-on has remained in place ...

OnePath Custodians fined $11m for MySuper failures

JAMIE WILLIAMSON  |  MONDAY, 22 JUL 2024
... committed to identifying and remediating all impacted members and allocating additional resourced to replenish its Operational Risk Financial Requirement to 0.25% of funds under management, $40 million of which will be held as an overlay until all terms ...

ASIC, APRA provide FAR update

ELIZA BAVIN  |  FRIDAY, 12 JUL 2024
... management; data management; financial and regulatory reporting; hardship processes; insurance risk management; operational risk management; product design and distribution obligations; product origination; recover and exit planning and resolution planning ...

APRA updates industry on operational resilience guidance

ELIZA BAVIN  |  FRIDAY, 14 JUN 2024
... prudential practice guide to help superannuation trustees, banks and insurers strengthen their management of operational risk and improve business continuity planning. The new Prudential Practice Guide CPG 230 Operational Risk Management (CPG 230) is ...