Within the financial services sector, a culture of risk management is vital to protecting organisations, individual investors and the Australian financial system as a whole. This highly regulated area is complex and the Australian Prudential Regulation Authority (APRA) continues to seek greater assurance from organisations within the industry of their financial sustainability.
While the industry could be self-regulating, and most participants strive to continuously improve their governance frameworks, APRA often takes the lead to define and refine good governance practices. The industry, including insurers, superannuation funds and ADIs seek the practical and expert advice of our team at HDY to guide them through both regulatory reviews and regulatory change.
How we can help
HDY’s team of financial services regulatory experts pride ourselves on cultivating a strong and constructive working relationship with APRA to ensure our clients are well advised. Our work with the prudential regulator is two-fold.
We work to help our clients (those in the financial services industry) review their policies, processes and procedures to ensure they reflect APRA's expectations. This regulatory requirement is simply good governance and has helped many clients to identify and manage governance risks before issues arise. Our process ensures the documented governance frameworks reflect the right checks and balances to protect the organisation as well as comply with prudential standards.
We also support APRA during investigations and disputes with those under their regulatory umbrella. We have an in depth knowledge of the regulator’s framework and focus areas, and keenly understand their priorities. We work to complement APRA's in-house team and resolve conflicts and disputes efficiently and effectively in the process.