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