Simplicity + Certainty = Confidence
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Secure

Secure

Your information is securely held, communications are safely encrypted. Our fully encrypted backups occur often and regularly. Flexible and secure user password security.

Fast

Fast

Fast interfaces, user experience and reporting through the latest database design and web technology. User management tools aide efficient processes

Simple

Simple

Uncluttered user interfaces, multiple browser tab access, effortless data links. Our user-friendly and easy to learn user interface means no steep learning curve. Logical data entry flow with what you expect where you expect.

Customisable

Customisable

You select the modules you use and customise to your needs. You control your reports' content, you tailor your installation to suit your businesses needs

Standardised

Standardised

We support the global standards on Risk Management (ISO 31000) and Compliance (ISO 19600) and APRA SSP 220

Centralised

Centralised

One stop for all of your risk and compliance office needs. View completed and incomplete controls. Retain all your controls and records in the one accessable data base

How it Works

Feature diagram

CRS Certus becomes your record of your risks, risk profile, risk mitigators, obligations, responsible managers and staff, policies and procedures. It holds your proof of control execution. It facilitates recording and managing issues, incidents and complaints. CRS Certus can be interrogated to deliver reports on all data it holds in a format your audience needs.

Risks

Full risk management system. Customisable risk register. Multiple entity ratings support. Links to mitigating controls and issues register. Risk appetites tied to strategic objectives. Risk tolerance triggers and questionnaire system.

Obligations

Record obligations. Link to legislative or regulatory sources. Reconcile obligations with business controls

Controls

Document business controls. Link to risks and obligations. Assign responsibilities to managers. Automatically generate controls self-assessment questionnaires. Managers alerted when questionnaires are ready, complete within CRS Certus

Assessments

Controls response assessment navigation. Record testing results. Full audit records of resolution and further action. Directly load adverse responses into Issues Register.

Incidents

Capture incidents originating from within CRS Certus and reported by your business. Customise incident categories. Workflow management. Assign activities. Capture reportability assessment, related documents and developments.

Complaints

Customise complaint categories. Seamless flag as incidents, breaches or risk mitigation controls failures.

Registers

Breach register with regulator reporting assessments. Personal dealing approvals and register, gifts & benefits, training, conflicts of interest, relatedy party, legal documents, administrative documents, publications, office holder registers amongst others.

Alerts

Email alerts issued out of the system directed to your defined positions. Customisable email content and triggers. Email service log validates that communications are sent.

Policies & Procedures

Policies and procedures library. Alert users to new content to review within CRS Certus. Capture user confirms of access and understanding of policies and procedures. The library becomes your single point of truth.

Reporting

Flexible reporting to PDF and XLS(X). Customisable report content, period and presentation, tailored and relevant for the audience. Reports returned immediately. Aides regulatory enquiry, annual audit, demonstrates the control you have over your business

Consultancy and Outsourced Management

In addition to providing CRS-Certus as a software service, we provide consulting and outsourced management services. These services are available separately from CRS-Certus.

We can help to:

  • Operationalise your risk and compliance management system.
  • Workshop your risks.
  • Build Controls.
  • Document your regulatory obligations.
  • Implement incident/complaints reporting.
  • Document your policies & Procedures

Compliance & Risk Services Pty Ltd has been providing risk and compliance management solutions for businesses for over 10 years.

Our speciality in financial expertise

We have particular experience with financial Australian financial institutions such as Australian Financial Services Licensee, APRA regulated entities, Australian Credit licensees and AUSTRAC reporting entities.

  • Australian Financial Services ('AFS') Licence applications and licence variations
  • RSE licence applications
  • AFS Licence compliance reviews
  • Managed investment scheme registrations
  • Draft compliance plans
  • Draft Product Disclosure Statements ('PDS')
  • PDS due diligence
  • MDA contracts
  • Provide outsourced compliance management
  • Anti-money laundering & counter terrorism financing ('AML/CTF') programs
  • Independent reviews of AML/CTF programs
  • External Compliance Committee members
  • Temporary compliance staff placements
  • Risk management frameworks
  • Local agent for foreign licensees
  • Technical and product advisory services
  • Responsible manager training

Our values and ideals

Experience

We are experienced risk and compliance management practitioners experienced in developing and operating risk and compliance management systems.
CRS-Certus is developed through our experience as risk and compliance management practitioners.

In-house programming team

Our programming team is retained in-house. We believe that the partnership of practitioner and programmer provides a strength that few competitors may match.

Secure IT architecture and backups

Our system uses contemporary database design, programming languages, and hardware. We have implemented a constant backup regime using offsite encrypted storage.

Trust

We have provided services to over 200 clients over the globe. We have acted as topic experts under ASIC enforceable undertakings, engaged as experts in litigation and ASX disciplinary reviews.

Articles

ASIC guidance on breach reporting
By Gerald O'Byrne at 17/09/2021
ASIC v RI Advice Group Pty Ltd – failure to properly supervise an Authorised Representative
By Terry Dalziel at 12/08/2021
ASIC reference checking and information sharing protocol
By Gerald O'Byrne at 26/07/2021
ASIC email to licensees - reportable situations
By Murray Jones at 25/06/2021
Structural change in Stock Broking
By Adam Bold at 23/06/2021
Ongoing Fee Arrangements - Obligations and Client Consent
By Terry Dalziel at 16/06/2021
Property related AFS Licensees and APRA Connect
By Gerald O'Byrne at 09/06/2021
Change in treatment of leases for calculation of net asset, adjusted surplus liquid funds and surplus liquid funds – no longer an excluded asset
By Terry Dalziel at 02/05/2021
New Compliance Standard replaces ISO 19600
By Murray Jones at 20/04/2021
Consent to Deductions – Ongoing fee arrangements, information to be provided where a fee is to be deducted from a clients account: An updated.
By Terry Dalziel at 30/03/2021
Special Purpose Financial Statements ceasing from 1 July 2021
By Terry Dalziel at 30/03/2021
Disclosure of lack of independence – further disclosure via legislative instrument
By Terry Dalziel at 25/03/2021
Financial Sector Reform (Hayne Royal Commission Response No. 2) Bill 2020 now Law
By Terry Dalziel at 11/03/2021
Claims handling and settlement service and the need to be authorised
By Terry Dalziel at 01/03/2021
Wholesale and Sophisticated Clients can access AFCA
By Adam Bold at 22/01/2021
Financial Sector Reform (Hayne Royal Commission Response No. 2) Act 2020 - Impact on financial advisers
By Terry Dalziel at 16/12/2020
ASIC commences action against the RI Advice Group Pty Ltd
By Terry Dalziel at 24/08/2020
Deferral of mortgage broker reforms and design & distribution obligations
By Murray Jones at 12/05/2020
ASIC amends requirements where COVID-19 related advice is provided
By Terry Dalziel at 16/04/2020
AUSTRAC Industry engagement
By Adam Bold at 02/03/2020
ASIC guidance on breach reporting

ASIC issued an updated version of Regulatory Guide 78 - Breach Reporting by AFS licencees and credit licensees  on 7 September 2021 with a commencement date of 1 October 2021. 

RG78 gives effect to the reforms introduced by the Financial Sector Reform (Hayne Royal Commission Response) Act 2020 in Schedule 11 - Breach reporting and remediation. 

Reportable Situations

Licensees will be required to report to ASIC a range of conduct described as 'reportable situations'.  

The types of reportable situations that must be reported include:

  • significant breaches or likely breaches of 'core obligations';
  • investigations into whether there is a significant breach or likely breach of a 'core obligation' if the investigation continues for more than 30 days;
  • the outcome of such an investigation if it discloses there is no significant breach or likely breach of a core obligation;
  • conduct that constitutes gross negligence or serious fraud; 
  • conduct of financial advisers and mortgage brokers who are representatives of other licensees in certain prescribed circumstances.

Core Obligations

Core obligations for AFS licenses are set out in s.912D(3) of the Corporations Act and for credit licensees in s.50A(3) of the National Credit Act and cover a range of fundamental matters including complying with your licence conditions, having conflict of interest management arrangements, maintaining competencies and training to provide financial services, having adequate risk management systems and complying with the financial services laws.  Note that this is not the full list of core obligations. 

Significant Breaches

A breach of core obligation is significant having regard to the following: 

  1. the number and frequency of similar previous breaches
  2. the impact of the breach or likely breach on the licensees' ability to provide financial services or engage in credit activities
  3. the extent to which the breach or likely breach indicates the licensee's arrangements for ensuring compliance with those obligations is inadequate
  4. the actual or potential financial loss to clients of the licensee, or the licensee itself, arising from the breach or likely breach.

Deemed Significant Breaches

In addition, certain breaches of the core obligations are deemed to be significant in any event and must be reported. Deemed significant breaches include: 

  • Offences that carry a penalty of imprisonment for 3 months or more (for dishonesty) or 12 months or more (for any other case);
  • Civil penalty breaches;
  • For credit licensees, breaches of a key requirement under s. 111 of the National Credit Code (Sch.1 to the National Credit Act);
  • Breaches that contravene s.104H(1) of the Corporations Act or s.12DA(1) of the Australian Securities and Investment Commission Act 2001 (misleading and deceptive conduct);
  • Breaches that result, or are likely to result in, material loss or damage to:
    • for credit licensees - a credit activity client of the licensee;
    • for AFS licensees:
      • in all cases - persons to whom the AFS licensee or representative provides a financial product or financial service as a wholesale or retail client;
      • for a management investment scheme  - a member of members of the scheme; or
      • for a superannuation entity - a member of members of the entity.

When and how to report to ASIC

You must tell ASIC within 30 calendar days after a reportable situation has arisen.

The 30 calendar days starts on the day you first know that, are are reckless with respect to whether, there are reasonable grounds to believe that a reportable situation has arisen. 

You ;must report to ASIC using the prescribed form through the ASIC Regulatory Portal. 

Contact Us

Feel free to drop us a message if you have any questions or requests.

Or give us a call at

P: 03 9663 4456

and post us at

P.O. Box 18009
Collins Street East
Melbourne, VIC 8003

We're located at

Level 25, 360 Collins St
Melbourne, VIC, 3000