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2021 Risk & Compliance survey

A look at how Australia’s Superannuation trustees and asset managers are meeting an ever-changing regulatory and risk landscape

Over 30 of Australia's leading superannuation trustees and asset managers participated in a comprehensive survey looking into the systems and strategies being employed to manage risk, ESG and cybersecurity, and meet and pre-empt regulatory requirements.

A year on from our previous survey the pace of regulatory and organisational change has only increased. Organisations who are weathering this change best, have established teams with representatives from across their organisation to develop and implement strategy. System and data driven solutions are being used in place of tactical, manual fixes. Key highlights from the survey include:

  • Engagement with third parties to help with new regulations is proving challenging. Future processes, controls and monitoring should be developed and documented by internal working groups to ensure a smooth transition to a new 'BAU' for an organisation

  • Operational processes and controls aren't keeping pace with broader ESG commitments. Risk & compliance teams need to be more involved to address the gaps and influence metric measured. It's not clear how targets will be met without standardised, quantified disclosure

  • Risk profiles for cybersecurity continue to grow; regulators are seeing numerous, cyber issues arising from straightforward areas; upskilling boards and management to enable effective management of essential controls is a priority

How is climate risk assessed in your investment portfolio?

Stat 3
63% of respondents indicated the high degree of outsourcing/heavy reliance on third parties is one of the main factors that drive cyber risk.
53% of respondents offer an investment product with ESG credentials
For more information please download your copy below or to have a more in-depth discussion about risk and controls at your organisation, please contact one of our experts.
Risk & Compliance survey 2021

Contact us

Deanna Chesler

Partner, PwC Australia

Tel: +61 414 914 834

Adrian Gut

Partner, PwC Australia

Tel: +61 418 237 426

John O'Donoghue

ESG Reporting & Assurance Partner, PwC Australia

Tel: +61 439 988 021

Peter Malan

Partner, Cybersecurity & Digital Trust, PwC Australia

Tel: +61 413 745 343