{"id":1017,"date":"2020-01-16T10:44:31","date_gmt":"2020-01-16T00:44:31","guid":{"rendered":"https:\/\/www.armourconsulting.com.au\/?page_id=1017"},"modified":"2020-01-17T08:41:54","modified_gmt":"2020-01-16T22:41:54","slug":"apra-initiatives","status":"publish","type":"page","link":"https:\/\/www.armourconsulting.com.au\/index.php\/apra-initiatives\/","title":{"rendered":"APRA Initiatives"},"content":{"rendered":"<div id=\"themify_builder_content-1017\" data-postid=\"1017\" class=\"themify_builder_content themify_builder_content-1017 themify_builder\">\n    \t<!-- module_row -->\n\t<div  class=\"themify_builder_row module_row clearfix module_row_0 themify_builder_1017_row module_row_1017-0 tb_2twg919\">\n\t    \t    <div class=\"row_inner col_align_top\" >\n\t\t\t<div  class=\"module_column tb-column col-full first tb_1017_column module_column_0 module_column_1017-0-0 tb_8wdr919\" >\n\t    \t    \t        <div class=\"tb-column-inner\">\n\t\t        <!-- module image -->\n    <div  class=\"module module-image image-1017-0-0-0  image-top   tb_sv2u225\">\n\t                <div class=\"image-wrap\">\n                            <img fetchpriority=\"high\" fetchpriority=\"high\" fetchpriority=\"high\" decoding=\"async\" width=\"2000\" height=\"300\" src=\"https:\/\/www.armourconsulting.com.au\/wp-content\/uploads\/2019\/10\/Banner3.png\" class=\" wp-post-image wp-image-491\" alt=\"Banner3\" srcset=\"https:\/\/www.armourconsulting.com.au\/wp-content\/uploads\/2019\/10\/Banner3.png 2000w, https:\/\/www.armourconsulting.com.au\/wp-content\/uploads\/2019\/10\/Banner3-300x45.png 300w, https:\/\/www.armourconsulting.com.au\/wp-content\/uploads\/2019\/10\/Banner3-768x115.png 768w, https:\/\/www.armourconsulting.com.au\/wp-content\/uploads\/2019\/10\/Banner3-1024x154.png 1024w\" sizes=\"(max-width: 2000px) 100vw, 2000px\" \/>            \n                        <\/div>\n            <!-- \/image-wrap -->\n        \n        \n        <\/div>\n    <!-- \/module image -->\n\t        <\/div>\n\t    \t<\/div>\n\t\t    <\/div>\n\t    <!-- \/row_inner -->\n\t<\/div>\n\t<!-- \/module_row -->\n\t\t<!-- module_row -->\n\t<div  class=\"themify_builder_row module_row clearfix module_row_1 themify_builder_1017_row module_row_1017-1 tb_quag211\">\n\t    \t    <div class=\"row_inner col_align_top\" >\n\t\t\t<div  class=\"module_column tb-column col3-1 first tb_1017_column module_column_0 module_column_1017-1-0 tb_hxqm211\" style=\"width: 8.4%\" >\n\t    \t    \t<\/div>\n\t\t<div  class=\"module_column tb-column col3-1 middle tb_1017_column module_column_1 module_column_1017-1-1 tb_0jet211\" style=\"width: 71%\" >\n\t    \t    \t        <div class=\"tb-column-inner\">\n\t\t            <!-- module fancy heading -->\n    <div  class=\"module module-fancy-heading fancy-heading-1017-1-1-0   tb_9s0j452\">\n\t        <h1 class=\"fancy-heading \">\n        <span  class=\"main-head\">\n            APRA Overview        <\/span>\n        <span class=\"sub-head\">\n                    <\/span>\n\n        <\/h1>\n    <\/div>\n    <!-- \/module fancy heading -->\n<!-- module text -->\n<div  class=\"module module-text text-1017-1-1-1     tb_zohi447\">\n            <div  class=\"tb_text_wrap\">\n    <p>It is important to understand the role of the regulator and the relationship with organisations across industries. Armour invest time in understanding regulator driven initiative changes and how these will effect industries, so we are well placed in appreciating the timelines and impacts on areas of business. We have developed a timeline view of the initiatives and identified the standards across industries.<\/p>    <\/div>\n<\/div>\n<!-- \/module text -->\n<!-- module text -->\n<div  class=\"module module-text text-1017-1-1-2     tb_koib698\">\n            <div  class=\"tb_text_wrap\">\n    <h3>APRA&#8217;s role:<\/h3>\n<ul>\n<li>APRA (The Australian Prudential Regulation Authority) is an independent statutory authority that supervises institutions across banking, insurance and superannuation, and is accountable to the Australian Parliament<\/li>\n<li>Prudential Regulation is concerned with maintaining the safety and soundness of financial institutions, so that the community can have confidence that they will meet their financial commitments under all reasonable circumstances<\/li>\n<\/ul>\n<p>\u00a0<\/p>\n<table cellpadding=\"20\">\n<tbody>\n<tr style=\"background-color: #c0c0c0;\">\n<td>\n<h4 style=\"text-align: center;\">Industries under APRA oversight:\u200b\u200b<\/h4>\n<\/td>\n<td style=\"text-align: center;\">\n<h4>Sub-Segments<\/h4>\n<\/td>\n<\/tr>\n<tr style=\"vertical-align: top;\">\n<td style=\"border: 1px solid #dddddd;\">\n<p style=\"text-align: left;\">The APRA website (apra.gov.au) provides Prudential and Reporting Standards across five regulated industries:<\/p>\n<ol style=\"text-align: left;\">\n<li>Authorised Deposit-taking Institutions (A)<\/li>\n<li>General Insurance (G)<\/li>\n<li>Life Insurance and Friendly Societies (L)<\/li>\n<li>Private Health Insurance (H)<\/li>\n<li>Superannuation (S)<\/li>\n<\/ol>\n<p style=\"text-align: left;\">There are a further two classifications:<\/p>\n<ol style=\"text-align: left;\">\n<li>Non-regulated Industries (R)<\/li>\n<li>Cross-industry (C) and (3)<\/li>\n<\/ol>\n<p style=\"text-align: left;\">Institutions within the same regulated industry are covered by the same suite of Prudential and Reporting Standards.<\/p>\n<\/td>\n<td style=\"border: 1px solid #dddddd;\">\n<p>Within each industry classification, the relevant\u00a0 Prudential and Reporting Standards are listed under common sub-segments:<\/p>\n<ul style=\"text-align: left;\">\n<li style=\"text-align: left;\">Capital<\/li>\n<li style=\"text-align: left;\">Economic and Financial Statistics<\/li>\n<li style=\"text-align: left;\">Financial Statements<\/li>\n<li style=\"text-align: left;\">Governance<\/li>\n<li style=\"text-align: left;\">Other Requirements<\/li>\n<li style=\"text-align: left;\">Risk Management<\/li>\n<\/ul>\n<p style=\"text-align: left;\">\u200b<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>    <\/div>\n<\/div>\n<!-- \/module text -->\n<!-- module text -->\n<div  class=\"module module-text text-1017-1-1-3     tb_ih5s587\">\n            <div  class=\"tb_text_wrap\">\n    <h3>Authorised Deposit-Taking Institutions<\/h3>    <\/div>\n<\/div>\n<!-- \/module text -->\n    <!-- module image -->\n    <div  class=\"module module-image image-1017-1-1-4  image-left   tb_eqki687\">\n\t                <div class=\"image-wrap\">\n                            <img decoding=\"async\" width=\"1263\" height=\"742\" src=\"https:\/\/www.armourconsulting.com.au\/wp-content\/uploads\/2020\/01\/APRA_Timeline_ADI.png\" class=\" wp-post-image wp-image-1051\" alt=\"Authorised Deposit-Taking Institutions Timeline\" srcset=\"https:\/\/www.armourconsulting.com.au\/wp-content\/uploads\/2020\/01\/APRA_Timeline_ADI.png 1263w, https:\/\/www.armourconsulting.com.au\/wp-content\/uploads\/2020\/01\/APRA_Timeline_ADI-300x176.png 300w, https:\/\/www.armourconsulting.com.au\/wp-content\/uploads\/2020\/01\/APRA_Timeline_ADI-1024x602.png 1024w, https:\/\/www.armourconsulting.com.au\/wp-content\/uploads\/2020\/01\/APRA_Timeline_ADI-768x451.png 768w\" sizes=\"(max-width: 1263px) 100vw, 1263px\" \/>            \n                        <\/div>\n            <!-- \/image-wrap -->\n        \n        \n        <\/div>\n    <!-- \/module image -->\n<!-- module text -->\n<div  class=\"module module-text text-1017-1-1-5     tb_b1zz635\">\n            <div  class=\"tb_text_wrap\">\n    <h3>Superannuation<\/h3>    <\/div>\n<\/div>\n<!-- \/module text -->\n    <!-- module image -->\n    <div  class=\"module module-image image-1017-1-1-6  image-top   tb_z7ky89\">\n\t                <div class=\"image-wrap\">\n                            <img decoding=\"async\" width=\"1263\" height=\"742\" src=\"https:\/\/www.armourconsulting.com.au\/wp-content\/uploads\/2020\/01\/APRA_Timeline_Superannuation.png\" class=\" wp-post-image wp-image-1050\" alt=\"APRA_Timeline_Superannuation\" srcset=\"https:\/\/www.armourconsulting.com.au\/wp-content\/uploads\/2020\/01\/APRA_Timeline_Superannuation.png 1263w, https:\/\/www.armourconsulting.com.au\/wp-content\/uploads\/2020\/01\/APRA_Timeline_Superannuation-300x176.png 300w, https:\/\/www.armourconsulting.com.au\/wp-content\/uploads\/2020\/01\/APRA_Timeline_Superannuation-1024x602.png 1024w, https:\/\/www.armourconsulting.com.au\/wp-content\/uploads\/2020\/01\/APRA_Timeline_Superannuation-768x451.png 768w\" sizes=\"(max-width: 1263px) 100vw, 1263px\" \/>            \n                        <\/div>\n            <!-- \/image-wrap -->\n        \n        \n        <\/div>\n    <!-- \/module image -->\n\t        <\/div>\n\t    \t<\/div>\n\t\t<div  class=\"module_column tb-column col3-1 last tb_1017_column module_column_2 module_column_1017-1-2 tb_wund211\" style=\"width: 14.2%\" >\n\t    \t    \t<\/div>\n\t\t    <\/div>\n\t    <!-- \/row_inner -->\n\t<\/div>\n\t<!-- \/module_row -->\n\t\t<!-- module_row -->\n\t<div  class=\"themify_builder_row module_row clearfix fullcover module_row_2 themify_builder_1017_row module_row_1017-2 tb_x0x124\">\n\t    <div class=\"builder_row_cover\"><\/div>\t    <div class=\"row_inner col_align_top\" >\n\t\t\t<div  class=\"module_column tb-column col-full first tb_1017_column module_column_0 module_column_1017-2-0 tb_06ez24\" >\n\t    \t    \t        <div class=\"tb-column-inner\">\n\t\t    <!-- module text -->\n<div  class=\"module module-text text-1017-2-0-0     tb_cdng24\">\n            <div  class=\"tb_text_wrap\">\n    <h2>Let&#8217;s talk about your project?<\/h2>    <\/div>\n<\/div>\n<!-- \/module text -->\n    <!-- module buttons -->\n    <div  class=\"module module-buttons buttons-1017-2-0-1 normal solid rounded   tb_q75x25\">\n\t        \t<div class=\"module-buttons\">\n                            <div class=\"module-buttons-item  buttons-horizontal\">\n\t\t    \t\t\t<a href=\"https:\/\/www.armourconsulting.com.au\/index.php\/contact\/\" class=\"ui builder_button transparent\" >\n\t\t    \t\t    \t\t\t<span>Contact Us<\/span>\n\t\t    \t\t    \t\t\t<\/a>\n\t\t                    <\/div>\n                    <\/div>\n    <\/div>\n    <!-- \/module buttons -->\n\t        <\/div>\n\t    \t<\/div>\n\t\t    <\/div>\n\t    <!-- \/row_inner -->\n\t<\/div>\n\t<!-- \/module_row -->\n\t<\/div>\n","protected":false},"excerpt":{"rendered":"<p>APRA Overview It is important to understand the role of the regulator and the relationship with organisations across industries. Armour invest time in understanding regulator driven initiative changes and how these will effect industries, so we are well placed in appreciating the timelines and impacts on areas of business. We have developed a timeline view [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"elementor_header_footer","meta":{"footnotes":""},"class_list":["post-1017","page","type-page","status-publish","hentry","has-post-title","has-post-date","has-post-category","has-post-tag","has-post-comment","has-post-author",""],"builder_content":"<img fetchpriority=\"high\" fetchpriority=\"high\" decoding=\"async\" width=\"2000\" height=\"300\" src=\"https:\/\/www.armourconsulting.com.au\/wp-content\/uploads\/2019\/10\/Banner3.png\" alt=\"Banner3\" srcset=\"https:\/\/www.armourconsulting.com.au\/wp-content\/uploads\/2019\/10\/Banner3.png 2000w, https:\/\/www.armourconsulting.com.au\/wp-content\/uploads\/2019\/10\/Banner3-300x45.png 300w, https:\/\/www.armourconsulting.com.au\/wp-content\/uploads\/2019\/10\/Banner3-768x115.png 768w, https:\/\/www.armourconsulting.com.au\/wp-content\/uploads\/2019\/10\/Banner3-1024x154.png 1024w\" sizes=\"(max-width: 2000px) 100vw, 2000px\" \/>\n<h1>APRA Overview<br\/><\/h1>\n<p>It is important to understand the role of the regulator and the relationship with organisations across industries. Armour invest time in understanding regulator driven initiative changes and how these will effect industries, so we are well placed in appreciating the timelines and impacts on areas of business. We have developed a timeline view of the initiatives and identified the standards across industries.<\/p>\n<h3>APRA's role:<\/h3> <ul> <li>APRA (The Australian Prudential Regulation Authority) is an independent statutory authority that supervises institutions across banking, insurance and superannuation, and is accountable to the Australian Parliament<\/li> <li>Prudential Regulation is concerned with maintaining the safety and soundness of financial institutions, so that the community can have confidence that they will meet their financial commitments under all reasonable circumstances<\/li> <\/ul> <p>\u00a0<\/p> <table cellpadding=\"20\"> <tbody> <tr style=\"background-color: #c0c0c0;\"> <td> <h4 style=\"text-align: center;\">Industries under APRA oversight:\u200b\u200b<\/h4> <\/td> <td style=\"text-align: center;\"> <h4>Sub-Segments<\/h4> <\/td> <\/tr> <tr style=\"vertical-align: top;\"> <td style=\"border: 1px solid #dddddd;\"> <p style=\"text-align: left;\">The APRA website (apra.gov.au) provides Prudential and Reporting Standards across five regulated industries:<\/p> <ol style=\"text-align: left;\"> <li>Authorised Deposit-taking Institutions (A)<\/li> <li>General Insurance (G)<\/li> <li>Life Insurance and Friendly Societies (L)<\/li> <li>Private Health Insurance (H)<\/li> <li>Superannuation (S)<\/li> <\/ol> <p style=\"text-align: left;\">There are a further two classifications:<\/p> <ol style=\"text-align: left;\"> <li>Non-regulated Industries (R)<\/li> <li>Cross-industry (C) and (3)<\/li> <\/ol> <p style=\"text-align: left;\">Institutions within the same regulated industry are covered by the same suite of Prudential and Reporting Standards.<\/p> <\/td> <td style=\"border: 1px solid #dddddd;\"> <p>Within each industry classification, the relevant\u00a0 Prudential and Reporting Standards are listed under common sub-segments:<\/p> <ul style=\"text-align: left;\"> <li style=\"text-align: left;\">Capital<\/li> <li style=\"text-align: left;\">Economic and Financial Statistics<\/li> <li style=\"text-align: left;\">Financial Statements<\/li> <li style=\"text-align: left;\">Governance<\/li> <li style=\"text-align: left;\">Other Requirements<\/li> <li style=\"text-align: left;\">Risk Management<\/li> <\/ul> <p style=\"text-align: left;\">\u200b<\/p> <\/td> <\/tr> <\/tbody> <\/table>\n<h3>Authorised Deposit-Taking Institutions<\/h3>\n<img decoding=\"async\" width=\"1263\" height=\"742\" src=\"https:\/\/www.armourconsulting.com.au\/wp-content\/uploads\/2020\/01\/APRA_Timeline_ADI.png\" alt=\"Authorised Deposit-Taking Institutions Timeline\" srcset=\"https:\/\/www.armourconsulting.com.au\/wp-content\/uploads\/2020\/01\/APRA_Timeline_ADI.png 1263w, https:\/\/www.armourconsulting.com.au\/wp-content\/uploads\/2020\/01\/APRA_Timeline_ADI-300x176.png 300w, https:\/\/www.armourconsulting.com.au\/wp-content\/uploads\/2020\/01\/APRA_Timeline_ADI-1024x602.png 1024w, https:\/\/www.armourconsulting.com.au\/wp-content\/uploads\/2020\/01\/APRA_Timeline_ADI-768x451.png 768w\" sizes=\"(max-width: 1263px) 100vw, 1263px\" \/>\n<h3>Superannuation<\/h3>\n<img decoding=\"async\" width=\"1263\" height=\"742\" src=\"https:\/\/www.armourconsulting.com.au\/wp-content\/uploads\/2020\/01\/APRA_Timeline_Superannuation.png\" alt=\"APRA_Timeline_Superannuation\" srcset=\"https:\/\/www.armourconsulting.com.au\/wp-content\/uploads\/2020\/01\/APRA_Timeline_Superannuation.png 1263w, https:\/\/www.armourconsulting.com.au\/wp-content\/uploads\/2020\/01\/APRA_Timeline_Superannuation-300x176.png 300w, https:\/\/www.armourconsulting.com.au\/wp-content\/uploads\/2020\/01\/APRA_Timeline_Superannuation-1024x602.png 1024w, https:\/\/www.armourconsulting.com.au\/wp-content\/uploads\/2020\/01\/APRA_Timeline_Superannuation-768x451.png 768w\" sizes=\"(max-width: 1263px) 100vw, 1263px\" \/>\n<h2>Let's talk about your project?<\/h2>\n<a href=\"https:\/\/www.armourconsulting.com.au\/index.php\/contact\/\" > Contact Us <\/a>","_links":{"self":[{"href":"https:\/\/www.armourconsulting.com.au\/index.php\/wp-json\/wp\/v2\/pages\/1017","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.armourconsulting.com.au\/index.php\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.armourconsulting.com.au\/index.php\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.armourconsulting.com.au\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.armourconsulting.com.au\/index.php\/wp-json\/wp\/v2\/comments?post=1017"}],"version-history":[{"count":58,"href":"https:\/\/www.armourconsulting.com.au\/index.php\/wp-json\/wp\/v2\/pages\/1017\/revisions"}],"predecessor-version":[{"id":1483,"href":"https:\/\/www.armourconsulting.com.au\/index.php\/wp-json\/wp\/v2\/pages\/1017\/revisions\/1483"}],"wp:attachment":[{"href":"https:\/\/www.armourconsulting.com.au\/index.php\/wp-json\/wp\/v2\/media?parent=1017"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}