$165.00 inc GST
At a glance
30-45 minutes online
Prudential Standard CPS 520
Available in Australian content format
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.
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
- 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
- Notifying APRA
- APRA’s Powers