Commonwealth Prudential Standard 520 – Fit and Proper

Ensure your officers have a general understanding of the minimum requirements for APRA-regulated institutions in determining the fitness and propriety of individuals to hold positions of responsibility.

Online course details

Delivery

SCORM files or hosted on our Platform

Course Format
  • Structured Learning (35-40 min)
Regulation/Law

Australia: Commonwealth Prudential Standard 520

Region

Australia

Purchase course

About this online course

Our CPS 520 (Fit and Proper) training course is designed to give officers a general understanding of the minimum requirements for APRA-regulated institutions in determining the fitness and propriety of individuals to hold positions of responsibility. It covers the minimum requirements in determining fitness and propriety as well as explaining why organisations need to prudently manage this risk.

Course Overview

Key modules

  • Key requirements of CPS 520
  • Fit and Proper Policy
  • What is a ‘responsible person’?
  • What is a ‘senior manager’?
  • Fit and Proper Criteria
  • Decision Standards
  • Fit and Proper Assessments
  • Legal Considerations
  • Whistleblowing
  • Notifying APRA
  • APRA’s Powers

Learning outcomes

By the end of this course, participants will be able to:

  • understand the minimum requirements of APRA-regulated institutions in determining the fitness and propriety of individuals;
  • understand the information that must be provided to APRA regarding responsible persons fitness and propriety; and
  • understand why institutions need to prudently manage the risk that persons in positions of responsibility might not be fit and proper.

Legislation covered

Australia: Commonwealth Prudential Standard 520

Course formats

Structured Learning

Ideal for first-time learners or those with little prior knowledge, covering the entire topic in 30-40 minutes. 

Accelerated Learning

Allows learners who understand the topic to proceed quickly through the course in 20-30 minutes.

MicroLearns

Short modules for time-poor learners, with each module lasting 5-10 minutes.

ShortBurst

Quick summaries of specific compliance areas, available in office-based and field-based formats, each lasting 5 minutes.

Delivery options

SCORM-compliant file

Our client services team can deliver our courses via SCORM file if you have a Learning Management System (LMS) or SCORM-compliant software.

Safetrac Platform

Alternatively, you can use our Compliance Platform to house any training material, track policy acceptance, administer surveys, and audits—all in one place. We can get you up and running within a few weeks.

Ensure your officers have a general understanding of the minimum requirements for APRA-regulated institutions in determining the fitness and propriety of individuals to hold positions of responsibility.

Prudential Standard CPS 520 applies to all authorised deposit-taking institutions, general insurers, life companies and private health insurers. These are collectively referred to as APRA-regulated institutions.

It sets out the minimum requirements for these institutions when determining the fitness and propriety of individuals to hold positions of responsibility.

Persons who are responsible for the management of an APRA-regulated institution must have the appropriate skills, experience and knowledge. They must also act honestly and with integrity. Regulated institutions need to ensure that their responsible persons are fit and proper to hold the position.

Enquire about this course for your organisation

Book a free training needs analysis with one of our Compliance Experts to help you build out the ideal compliance training program.

Related courses

Increase your compliance by bundling our related courses. This ensures you cover multiple topics and legislations for a holistic approach.

Why Choose Safetrac’s Compliance Courses 

Versatile Course Formats

Options include comprehensive compliance courses and short, bite-sized modules to meet diverse training needs. 

Engaging and Customisable

Our courses provide engaging, customisable content, from videos to interactive modules, tailored to your business.

Legally Up-to-Date

All content is regularly updated to reflect the latest legislation, ensuring your training remains compliant.

Flexible Delivery Options

Available via SCORM or our Compliance Platform, with regular updates provided whenever legal changes occur.

Exceptional Customer Service

Our local Client Services team ensures a smooth setup within a few weeks and offers ongoing support for all your learning and training needs. 

Trusted by Leading Brands

Renowned companies like Uber, Chubb, and David Jones rely on our compliance training solutions.

Get started

Is your organisation on the Safetrac?

Connect with our team today to explore how our courses can enhance your corporate training program or schedule a training needs analysis to tailor a solution for your compliance needs.

Book a call

Use Calendly to schedule a time to speak directly to our team about your governance, risk and compliance needs.

Contact us

Got questions? Reach out, and our compliance experts will get back to you with the answers.

Cart updated

What are you looking for?

Schedule