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Compliance Advocacy Solutions appreciates that risk management can be seen as complex and process driven from the perspective of the people who need it the most – the business (also known as line 1 in the 3 lines of defence model). If the business doesn’t understand the purpose of risk management and the risk infrastructure, the best designed processes won’t be embedded and will quickly fall over leading to unintended consequences and negative customer impacts. Most of the clients we assist are part of a larger APRA or ASIC regulated Group. Whilst the Group has a strong risk management framework the individual business area has struggled to keep pace due to a combination of factors such as organisation restructure, increased accountabilities or new staff (to mention a few). Not understanding and managing risk will lead to customer detriment such as the misconduct that was heard through case studies at the recent Financial Services Royal Commission. Adopting a ‘simple is best and ‘customer-centric’ approach, we assist discrete business areas with the following: Alignment of business practices to Group risk management framework Embedding Board approved risk appetite statement and risk management strategy within business practices Conducting risk workshops to help a business understand their risk and opportunities Risk profiling as an enabler for the business Controls and control testing plans Ensuring risk is part of management’s day to day focus in a meaningful manner. Development of simple risk management tools and processes to assist the business to manage their risks and optimise customer opportunities. Contact us today to understand how we can help demystify risk

The Australian financial services industry is undergoing substantial change following the findings of the Royal Commission into misconduct. The bar has lifted with regulator, customer and community standards and expectations at an all time high. Such change is causing disruption, it also creates opportunities. Paul Muir with his extensive corporate and regulatory knowledge assists Insurtech, Regtech and other startups to take advantage of the opportunities by providing Advisory services.  We also assist in finding the best pathways to insurers through our large network and connections. The Government has published its ”Financial Services Royal Commission Implementation Roadmap” which represents a comprehensive package of reforms. It’s clear that Regtech will play a significant part in the uplift of compliance. We can assist you in identifying opportunities currently causing issues for the insurance industry. We provide Corporate quality at a startup price.

Whether your business is an Insurtech or Regtech, Underwriting Agency, Authorised Rep, Online Insurer, insurance distributor or other tech innovator and looking to partner with an incumbent insurer it helps to have someone in your corner covering your back. Imagine if that someone was a qualified and experienced 35 year former Senior Insurance Executive?  We developed SMEaaS so that Paul Muir is part of your team. What do we provide? We assist you in preparing for meetings with insurers including analysis of attendees, likely questions/issues/concerns and reviewing your pitch and other material so that it is well positioned; We attend meetings with insurers (as required) as an advisor to your business; You can use ‘Paul Muir’ and his personal brand and reputation as part of your pitch to assist with industry credibility; We will review and where required provide amendments to your Privacy Policy, T&C’s etc to meet insurers specific requirements; and provide updates and insights on changes to the insurance industry ecosystem impacting your industry engagement.   But wait, there’s more.. If you have taken up our market research service, SMEaaS is included for 3 months at no additional cost. It didn’t seem fair that we would provide you with our market research and say goodbye. We believe in our market research and we believe in our clients, we want to help set them up for success. SMEaaS has been designed for this purpose. If you simply want to access SMEaaS as a stand-alone service, no problem, contact us today for a quote.

Compliance Advocacy Solutions provides compliance support to Insurers, AFSL holders, Authorised Reps, Distributors, Insurance brokers and Claim Service Suppliers  in meeting their compliance challenges including: Day to day compliance activities Regulatory change impacts Project work including the raft of regulatory reform arising from the regulatory reform and the 2020 General Insurance Code of Practice. This includes uninterrupted services during the COVID19 Pandemic. Our working environment and way of work is designed around a working remotely business model. We therefore respond to your needs in a quick, cost-effective manner. Our experience and knowledge enables us to offer compliance solutions that place the consumer at the heart of compliance and regulatory obligations to ensure that the conduct of the organisation aligns with its values and stakeholder expectations. Our approach is tailored to meet your needs whether to assist with Compliance projects, specific compliance tasks and activities or as a short-gap compliance resource. Our services include: Design and review of Policy, Guidelines, Processes, Procedures and other compliance documents Compliance frameworks Compliance 1st and 2nd line of defence capability Compliance plans /Obligations management – development and implementation Compliance documentation, manual, guideline reviews Compliance ”business as usual” assistance focusing upon specific tasks and activities Implementation of regulatory change Implementation of 2020 General Insurance Code of Practice License management Complaints and incidents management Breach management Product management lifecycle including Design & Distribution Obligations Smooth transition when introducing new risk management systems, Insurtech or Regtech applications Internal or external (regulatory) reviews and inquiries Remediation of significant breaches or systemic issues Conflicted remuneration Risk management

We provide compliance health checks to enable you to continue to deliver awesome customer experiences and meet your consumer obligations. The amount of regulatory change since the Financial Services Royal Commission (FSRC) has been without precedence. At the same time customer, regulatory and community expectations of the industry is at an all time high. Has your compliance approach kept pace or are you bogged down with processes not aligned to business operations and customer outcomes? Are internal behaviours and conduct compliant with community needs, standards and expectations? Is your end to end supply chain aligned? Will your time tomorrow be spent delivering awesome customer outcomes or dealing with complaints, breaches and regulator interrogation? The future state is becoming clearer. The government has issued their regulatory roadmap in response to the FSRC recommendations and Treasury is churning out new and amended regulations. The 2020 Code of Practice has been released. ASIC, APRA and AFCA have published their corporate plans for the next few years. We assess your current compliance processes, systems and governance structure to assist you in understanding where your gaps and blind spots are in meeting future obligations and expectations. We provide you with a clear roadmap with actions prioritised as Now, Next and Later.