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Aon solution helps super funds with compliance
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Aon Australia has launched a custom-designed governance, risk and compliance solution for superannuation funds to help ensure their frameworks are up to speed in the wake of more stringent regulations.
Aon Consulting’s Governance, Risk & Compliance solution assesses funds against expectations set by regulators and industry best practice, and provides examples of where they need to improve, such as monitoring programs, policy documentation, risk management assessment and the efficiency of the Board.
The solution also offers assistance in making the necessary improvements. For example, Aon’s technology arm, Aon e-solutions, provides risk management software, according to Aon Consulting principal and actuary Jenny Dean.
“Governance and risk management best practice is constantly evolving. Members are also demanding a higher standard of corporate governance following the global financial crisis. They’re now far more aware of their retirement savings and want to make sure they are safeguarded,” she said.
“Superannuation funds impose high standards of governance on the companies they invest in. If you’re imposing those sorts of standards, you have to make sure your own affairs are in order.”
AUTHOR
Mike Taylor
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