Code of Conduct Seminar
Stephen Glenfield
General Manager
APRA
21 July 2015
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History
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APRA has had a good opportunity leading up to 1
July to engage with various parties
These have tended to be Boards and industry
associations
Good to now be talking to practitioners ….
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Since Budget night 2014 …
APRA has been
• working with other agencies PHIAC, Dept of Health & Treasury
• liaising with PHIAC
• interacting with industry
• learning and building knowledge
• developing operating model
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So what does APRA look like?
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So what does APRA look like?
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Supervision
Supervision Support
Policy
Statistics
Corporate support
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So what does APRA look like?
• PHIs will be supervised by our Specialised
Institutions Division
• Offices in Brisbane, Sydney, Melbourne,
Adelaide and Perth
• From 1 July – add Canberra to that list
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APRA Mission
APRA’s mission is ‘to establish and enforce
prudential standards and practices designed
to ensure that, under all reasonable
circumstances, financial promises made by
institutions we supervise are met within a
stable, efficient and competitive fianicial
system’.
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APRA’s strategic objectives
Strategic objectives
• Supervision
• Prudential Framework
• Materially strengthen failure and crisis
preparedness
• People
• Organisational processes and infrastructure
• Transparent and accountable
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APRA’s strategic objectives
Supervision
• identify and understand significant risks at both
industry and institution level
• ensure timely and effective action can be taken to
protect beneficiary interests.
• Strategies
• Risk Governance, Appetite and Culture
• Identifying desired outcomes from supervisory
activities.
• place a heightened focus on issues which could give
rise to systemic risk.
• Continually review our supervisory approach
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So what happens in APRA
supervision?
The types of supervision activities:
• Quarterly meeting with management
• Onsite Risk Reviews
• Offsite analysis
• Prudential Consultation
• Thematic review
• Strategy discussion with management
• Annual meeting with Board
From 1 July 15 …
APRA will …
• proceed carefully
• Utilise the strong background and
knowledge of PHIAC staff, including
supervision team
• continue to build its knowledge
• View PHIs ‘against the filter’ of our other
industries (but recognise the differences)
• Bring our broad and diverse set of risk skills
to bear
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Questions
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