Division 1 - Banking, Finance & Insurance

Banking and Finance

  • Indicate the current number of members/clients and show movements over the last five years.
  • State major sources of income and profit (include both core and non-core business).
  • Explain how changes in government monetary and fiscal policy affect the organisation’s policies, especially those relating to lending and borrowing.
  • Discuss interest rates and margins/overheads, over at least five years.
  • Explain the method of calculation of deferred income.
  • Provide a breakdown of receivables and investments into major categories of business in the review of operations and balance sheet.
  • Provide details and explain movements in specific and general provision for impaired assets, including the basis of calculation.
  • Comment on major changes in financial instruments, in particular exposure to changes in the value of hedges and positions.
  • Comment on financial services refinements proposals and their impact on compliance processes
  • Comment on the potential effect of the Basel II round of deliberations, undertaken by the Basel Committee on Banking Supervision, which is seeking to produce uniformity in the way banks and banking regulators approach risk management across national borders.

Insurance

  • Indicate the current number of policy holders/members and show movements over at least five years.
  • Explain how changes in government policies affect the activities of the organisation.
  • Outline the operations and performance of associated companies and their impact on the organisation.
  • Disclose movements in premiums over at least five years.
  • Outline the philosophy of the organisation and how policy holders/members benefit from participating.
  • Comment on consumer education on issues such as under-insurance
  • Explain the method of calculation of deferred income.
  • Explain the basis of calculation for the provisions for outstanding claims and unearned premiums.
  • Comment on financial services refinements proposals and their impact on compliance processes.
  • Comment on any significant reinsurance issues, including actuarial comments, and changes which effect public liability.
  • Provide details of consideration given to APRA Stage 2 reforms.