This one day workshop focusses on building a risk management and compliance framework for the Unit Pricing function. The content leverages off the presenter’s extensive experience in building unit pricing risk management frameworks within a number of Australia’s largest fund managers and superannuation funds.
Actual risk management frameworks developed by the presenter have been subject to review by independent internal and external auditors and regulators and have been consistently signed off with no findings or no material findings. This workshop will provide an opportunity for participants to gain insights that can be taken away and implemented within their own organisations. All presentation material will be available for participants.
The workshop provides real life examples of many kinds of risks including arbitrage, tax provisioning errors and other common sources of unit pricing errors. The workshop also illustrates the importance of the understanding of controls approved by the Board and implemented both by an outsourced service provider and within the asset owner’s own unit pricing team.
In addition to practical examples of developing policies, building controls including check lists,
detailed risk registers and monitoring and reporting, the workshop will provide a high level
understanding of the complexities of unit pricing that can often be lost in the detail of day to day operational processing.
Examples of high level insights include the development of the APRA ASIC Guide to Good Practice and why it may not always be in unit holders’ best interests to ensure absolute consistency with the Guide. Further insights are demonstrated into the implications of proposals to tax income on pension assets, changes to the Transition to Retirement Pension and also into the recent initiatives to provide members with a transition to pension “bonus”.
The workshop is designed to be interactive to ensure participants are constantly involved and
engaged throughout. Importantly the workshop will be beneficial not only to members of the unit pricing team but perhaps more importantly to many other parts of the organisation whose staff would benefit from a greater understanding of the complexities of what is widely considered to the biggest single source of operational risk. Other areas could include members of the risk and compliance, finance, marketing and product development teams extending to senior management and Board members.