$165.00 inc GST

Prudential Standard CPS 520 (Fit and Proper) Training Course

Course preview

At a glance

Course length:
30-45 minutes online

Regulation/Law:
Prudential Standard CPS 520

Course audience:
All organisation

Region:
Available in Australian content format

Course type:
Structured iDesigned for learners with little prior knowledge, this course type takes the learner through the course subject sequentially – one step at a time.

About this course

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.

Safetrac’s Prudential Standard CPS 520 (Fit and Proper) training course is designed to give you a general understanding of the minimum requirements for APRA-regulated institutions in determining the fitness and propriety of individuals to hold positions of responsibility.

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Learning outcomes

On completing this course, learners should:

  • 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
  • Understand why institutions need to prudently manage the risk that persons in positions of responsibility might not be fit and proper

Course contents

  • 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

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