Risk and Compliance

Regulatory advice services

Ever been concerned about missing an update from the government or regulators and concerned about the impact and cost of non-compliance? SCS has a dedicated team of experienced staff keeping a watchful eye on changes that may impact the superannuation industry.

Risk

We offer a wide range of services relating to risk. We have extensive knowledge and experience relating to risk and superannuation.

Risk Management Framework review

  • Review the effectiveness of your Risk Management Framework based on the requirements of ISO  31000:2018 Risk Management and relevant regulatory and legislative obligations, including recommendations for continuous improvement and insights into the latest thinking from the regulators

Risk culture review

  • Risk culture review including a written Report on our findings and recommendations for improvement

Risk management training and facilitation

  • Deliver facilitated training sessions on risk management within the superannuation and financial services environment
  • Risk and control identification workshop

Risk Management Function

  • Perform the Risk Management Function under APRA Prudential Standard SPS 220

Compliance

We can help with your compliance requirements, whether you are a large or small entity.

Compliance Plan development and monitoring

  • Provide assistance and training in the development and monitoring of your Compliance Program.
  • Develop and implement a Compliance Plan based on the legislative and regulatory obligations of the entity and in accordance with ISO 19600:2014 Compliance Management systems, and provide continual effectiveness monitoring

Independent reviews on operational areas

  • Review the effectiveness of operational frameworks (eg. Conflicts of interest, AFS licensing obligations, provision of financial product advice, business continuity, Anti-money laundering and counter-terrorism financing (AML/CTF), business processes and policies
  • Independent reviews on any operational area within the superannuation and financial services industry

Regulatory and legislative advice

  • Provide advice on the impact of regulatory and legislative change on the trustee and fund operations
  • Provision of up to date and tailored advice on regulatory and legislative requirements

Triennial reviews that meet the requirements of APRA Prudential Standards

  • Triennial reviews covering risk management, conflicts of interest, insurance and investments

Other services

  • RSE and AFS licence application and variations
  • Responsible Manager applications
  • AML/CTF Program development and implementation
  • Incident management and breach management framework development, investigation and management
  • Breach, incident and complaint investigations, including recommendations for regulator reporting where significant
  • Liaison with Regulators on Trustees’ behalf
  • Development and maintenance of policies and procedures
  • Document due diligence checklists and reviews
  • Tailored policy, checklist and template development

 

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