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Introduction to APRA Prudential Framework

Risk officer APRA

The Challenge

The Australian Prudential Regulation Authority (APRA) regulates the Australian financial services industry (including general insurers and health insurers) through a sophisticated, multi-level regulatory framework which is arguably one of the best in the world.  The regulatory framework aims to strengthen the insurers systems and processes as well as align its capital to level of risk.

Have you ever wondered:

  • Why does your organisation do things in a certain way?
  • Why is following documented policies, processes and procedures so important?
  • Why do auditors ask so many questions?

The answer is simple. For an APRA regulated entity, not following documented systems and processes will not only expose the organisation to potential risks, it could result in a major breach of mandatory insurance regulatory requirements. Consequently, it could lead to potential embarrassment, additional regulatory burdens, legal prosecutions, disqualify people and ultimately, the loss of an organisations insurance license.

Course Overview

The purpose of this course is to introduce learners to the APRA regulatory framework, highlight the important regulatory requirements and their impact on insurers in Australia.

Course Outline

  • The impact of the HIH failure on the insurance industry.
  • The impact of the Royal Commission and regulatory developments.
  • The role of APRA and regulatory approach.
  • The need for insurance industry regulation.
  • Overview of the regulatory framework.
  • Overview of the key prudential standards.
  • How does APRA monitor entities.
  • Strategies to stay compliant.
  • Consequences of breaching key requirements.

The training can be tailored to your needs and can also include:

  • Overview of the ASIC regulatory environment and key regulations.
  • The specific areas of importance for responsible managers, Board of directors or Senior Officer outside Australia (branch insurers).

Course Benefits

  • Improve the overall support and effectiveness of your APRA & ASIC compliance program as people will understand the relevance of regulatory compliance to their role.
  • Demonstrate and reinforce your organisations commitment to APRA & ASIC compliance.

Course Delivery

The course is only available as in-house training.  It can be delivered in person, on-line or in a hybrid format.

The course is delivered by an experienced subject matter expert and trainer.

CPD Points

Participants can claim 2 hours CPD points.  A certificate of attainment is issued upon completion.

Learn More

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