CPS 230 – Operational Risk Management . APRA’s strategic initiative to modernise the prudential architecture. APRA has identified specific questions for feedback that will assist it in finalising the requirements. The standard will commence from 1 January 2024. APRA intends to finalise the standard and release draft guidance for consultation in early 2023, and finalise the guidance in the first half of 2023.
Read MoreThe Superannuation Industry (Supervision) Amendment (Your Future, Your Super— Improving Accountability and Member Outcomes) Regulations 2021 prescribe information that must be given to superannuation fund members either directly or referenced within an annual member meeting notice.
Read MoreSuperannuation trustees are increasingly focused on providing members with tools, information, and advice that are intended to assist members in making decisions and planning for their retirement. Online calculators and retirement estimates play an important role in enabling members to access clearer information about how decisions and scenarios earlier in life will affect their retirement income outcomes.
Read MoreWith the start of the new financial year, we see a myriad of superannuation-related changes come into effect as of 1 July 2022. To finish the 2022 financial year, ASIC issued a new legislative instrument covering superannuation calculators and retirement estimates and information sheet on greenwashing, while APRA confirmed it will be releasing a refreshed investment governance prudential standard.
Read MoreQMV Group is delighted and proud to share that QMV Legal Managing Partner, Jonathan Steffanoni has been named as a finalist for the Partner of the Year Awards 2022
Read MoreTwo weeks ago I spent a day in a shed with people from ART (Australian Retirement Trust was formed by the merger of QSuper and Sunsuper), on a campaign for supporting the local members of the fund. ART visit the island to provide personal information to the local members about their superannuation entitlements and answering their questions about all things retirement.
Read MoreRedesigning a fund’s operating model often involves introducing new systems, migrating from or switching off legacy systems, adding new resources and/or reskilling staff. Funds with established operating models view this change as an unnecessary expense. Shedding this myopic view of the way funds operate is key to the best outcomes for the Trustee and its members.
Read MoreThe key measure of success for any Trustee expense is how it can be expressed in terms of benefits to members. Providing members with more opportunity for higher returns, lower fees and better service are the most common high-level justifications. This can be much trickier for funds considering a merge or SFT.
Read MoreQMV is proud to exhibit at ASFA 2022. Australia's flagship event for superannuation professionals and associated service providers. We can’t wait to see you all! Let’s take this opportunity to reconnect in person and share our stories. Together we can make 2022 the year for greater business growth and transformation across the superannuation and financial services sector.
Read MoreConsumer scams, identity theft and fraud have boomed during the COVID-19 pandemic prompting superannuation funds to bolster fraud prevention strategy. Upgrading from insecure pins, challenge questions and two-step code verifications is a critical security measure in the fraud prevention framework to protect member accounts from a multitude of current and imminent threats.
Read MoreOngoing merger and business transformation activity in superannuation is driving a staggering rate of change and has giving rise to the most interesting transition work QMV has ever faced.
Read MoreHeightened merger, successor fund transfer and digital transformation activity in superannuation has seen QMV reach the 500 milestone in transition capability. To mark this achievement, we have interviewed a mix of our most experienced transition experts on their personal approach, important traps to be aware of and of course the secret sauce!
Read MoreAfter a long wait following Treasury's initial proposal paper issued in January 2020, the Financial Accountability Regime (FAR) draft legislation has arrived, and there are a few key items that require consideration by superannuation trustees.
Read MoreThe best interests duty is in many ways the cornerstone to the regulation of the superannuation system and has been the most important guiding principle for Australia’s superannuation industry.
Read MoreOn the thirtieth anniversary of the announcement of mandatory super, we invite the superannuation community to reflect back on the individuals who influenced and in many cases continue to shape the industry today.
Read MoreDigital to the core is a holistic, 360-degree solution that embeds technology into a fund’s DNA. Full vertical digital, not just at the usual customer touchpoints, but each member form, system, person and process that ensure the end-to-end transactions are linked. Minimal manual processes means transparent, efficient member service and significantly reduced duplication or risk of human error.
Read MoreAs the industry moves away from ad-hoc or project-based optimisations to more holistic and integrated digital capability, the fund needs ‘mastermind’ thinkers on the transformation program ideally with the trifecta of technology, data and superannuation pedigree.
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