However, APRA would be going much too far if it sought to use those changes as a mechanism via which to drive further consolidation of the superannuation industry; effectively forcing mid-scale funds into merger discussions with larger entities.
Upon implementation, your company can improve its security in many ways. Here are some specific examples. It recognises that every project has inherent vulnerabilities that could potentially be exploited. To ensure homogeneity, your company will mandate information security regardless of the shape and scope of a project.
It will be obligatory in nearly all situations. Taking this kind of diligent approach is a huge step toward mitigating what has become an incredibly pervasive problem. Considering the fact that roughlyof the 2. Tighter Control on Software Installation Your company is put in jeopardy anytime unauthorised software is installed onto company systems.
Another focal point of ISO is to make it mandatory for users to obtain permission from an analyst before anything is installed. This prevents rogue software from infiltrating your mainframe and endangering your network.
Heightened Security on User Access Maintaining strict access control is a necessity.
If unauthorised users are able to gain access to your network and are exposed to sensitive information, the walls of security can come crumbling down in a hurry.
This makes it far more difficult for unauthorised individuals to cross security borders and creates a chokepoint. As a result, you greatly reduce the chance of sensitive data falling into the wrong hands.
After all, computers, hardware, servers, etc. If intruders are able to gain access to this equipment, it can have devastating consequences that can be just as bad if not worse as a purely digital attack.
This can be done in several ways including the installation of surveillance cameras, commercial access control and even biometrics solutions involving fingerprint or retina scanning. The end results is comprehensive security that covers both digital as well as physical components.
From there, you can take appropriate action to optimise security as a whole. Supplier Security Policy Your organisation may be partnered with several different suppliers at any given time. This can be problematic because an oversight on their end can potentially compromise the security of your organisation.
This topic will be thoroughly discussed, and agreements will be made to eliminate unnecessary vulnerabilities.
Streamlined Incident Reporting The way in which you respond to an incident is critical. A swift, systematic response enables your company to effectively handle the issue and take necessary action.Reporting requirements.
Superannuation entities are required, under the Financial Sector (Collection of Data) Act and its reporting standards, to provide data to APRA.
The data is defined in the set of reporting forms and instructions. Some forms are subject to audit requirements. Developer tools. From this page you can find links to each agency that has forms available for SBR development.
Click any of the links to find the components you will need to develop software that supports the SBR channel. Authority.
1. This Reporting Standard is made under section 13 of the Financial Sector (Collection of Data) Act Purpose.
2. Information collected in Form SRF Statement of Financial Position (SRF 0) is used by APRA for the purpose s of prudential supervision and publication. It may also be used by the Australian Bureau of Statistics.
Lodgements through SBR-enabled software. Standard Business Reporting External Link (SBR) is a quick and simple way to prepare and lodge reports to government agencies directly from your accounting, bookkeeping or payroll software. To lodge via SBR-enabled software you will need either an AUSkey or online (cloud-based) software.
Member contributions. The member contributions statement (MCS) is an annual statement you lodge with us to report: contributions you received for each member during the financial year. Aon Benfield draw on our local and global analytical capabilities utilising the best in experience, knowledge and modelling resources to provide value to our clients through the reinsurance services we provide.