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Is the current ORFR approach the best way to protect against operational risk?

Is the current ORFR approach the best way to protect against operational risk?

Recognising the fact that superannuation funds, particularly non-retail funds, generally do not have sufficient shareholder reserves. The Australian Prudential Regulation Authority (APRA) requires funds to set aside an amount to meet the costs of errors and other losses that may arise as a consequence of investment or operational activities.

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16 Mar 2016
Outsourcing Middle Office - Reaching its Full Potential for Both Sides

Outsourcing Middle Office - Reaching its Full Potential for Both Sides

Outsourcing middle office functions to custodians has been a consistent theme over the past five years. Unfortunately this has been met with mixed success. In many cases the services do not live up to the promise made by custodians and fund manager expectations, whilst sometimes unreasonable, have not been met.

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19 Jan 2016
A Review of the Australian Life Insurance Industry – Challenges and Opportunities

A Review of the Australian Life Insurance Industry – Challenges and Opportunities

The Australian Life Insurance industry is facing a nexus of forces that threaten the long term performance of the industry, from policyholder behaviour to government intervention and regulation. To remain competitive businesses must gain deeper insight into their customer-base, increase the perception of relevance, and keep tighter oversight of claim and lapse behaviour. This article looks at some of these challenges and suggests increased access and quality of data can be used to overcome challenges and improve competitiveness.

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21 May 2015
APRA Reporting; a missed opportunity?

APRA Reporting; a missed opportunity?

The Australian superannuation industry believes the costs involved in implementing the new Australian Prudential Regulation Authority (APRA) Reporting requirements as part of the Stronger Super Legislation cannot be justified. Furthermore, the task has been undertaken as a purely tactical data collection exercise and in no way has improved internal management of funds.

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16 Sep 2014
Is Now The Time for Superannuation Funds to Think About Their Operating Models?

Is Now The Time for Superannuation Funds to Think About Their Operating Models?

The level of change impacting Superannuation Funds is unprecedented. Aside from the deliberate strategies to be more actively involved in the investment of their assets or to improve the quality of member engagement, increased regulatory scrutiny is forcing Funds to implement greater levels of governance. In addition, the Australian Prudential Regulation Authority (APRA) is imposing more onerous requirements on reporting even when the supposed ‘benefits’ of this are, at best, unclear.

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27 Aug 2014
Improving investment capability? Don't forget data quality

Improving investment capability? Don't forget data quality

Investment management is progressively becoming more complex due to an increase in the volume of data, the proliferation of data sources, and the outsourcing of business and IT functions. This means that data management and data quality are becoming more and more important and with proper implementation can be a competitive advantage.

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10 Jul 2014