October 2019 Edition of the Quarterly Newsletter
A summary of Cortell’s last quarter.
How would your Organisation go with a Self-Assessment?
APRA last week imposed a punitive $500m in additional capital requirements for ANZ, NAB and Westpac, a stinging response to the self-assessments carried out by the respective banks.
Cortell Successfully Moves Bank Australia onto the CoreBIS Regulatory Reporting Platform
Cortell today announced another signatory onto ‘CoreBIS’; their APRA reporting platform transforming the way organisations deliver regulatory governance and reporting. Bank Australia have successfully moved onto their innovative platform, giving Bank Australia a best in class governance and analytics platform to meet their regulatory requirements. With several key changes to the regulatory reporting landscape, organisations are now seeing the advantages of an externally sourced regulatory reporting solution.
Cortell Signs Beyond Bank to CoreBIS APRA Reporting Platform
Cortell today announced the signatory of Beyond Bank who will be using their innovative platform “CoreBIS” to service their APRA reporting requirements.
With several key changes to the regulatory reporting landscape, organisations are now seeing the advantages of an externally sourced regulatory reporting solution.
APRA releases report on industry self-assessments into governance, culture and accountability
Following APRA’s 2018 prudential inquiry on the frameworks and practises regarding governance and accountability at CBA (http://snip.ly/36jmh0), another 36 financial service institutions (across ADI’s, Insurance and Superannuation) where asked to qualify whether the findings established within the CBA report were also evident in their own organisations.
CoreBIS Drives APRA’s Economic and Financial Statistics Reform
Cortell Australia’s drive into the regulatory reporting space continues its growth as APRA releases formal consultation on the proposed changes to the Domestic book reporting requirements. Officially renamed the Economic and Financial Statistics (EFS), the reforms are the first of their kind since the early 2000’s, and reflect the changing need for the RBA and the ABS (the agencies) to collect relevant information for managing the economy.