Foreign Capability Statement

Foreign Capability Statement

Governance Worx is a bespoke advisory house that specialises in defining and supporting the governance requirements of participants and new entrants to the Australian financial services sector.

Our mission is to make effective governance an integrated part of your business by helping you build governance frameworks that focus on the proactive and strategic management of your business risks.

Our consultants all have extensive experience in the management of the regulatory obligations associated with operating in Australia and have practical experience creating governance environments for national and regional financial services enterprises in asset management, superannuation, insurance and product distribution.

The Governance Worx Principal has over 30 years of hands-on experience building compliant risk-focused organisational frameworks for participants in the financial services sector in Australia. We utilise this experience and proven methodology to provide efficient and cost-sensitive solutions to our foreign clients’ needs. We have access to an extensive network of businesses, capital providers and advisors to source solutions beyond our core governance and risk management offering for entrants to the Australian financial services sector.

FINANCIAL SERVICES ENTITIES – ADVISORY

  • Advice and support on the determination of the most appropriate and practical governance structures for new and existing entrants to the Australian financial services regulatory environment – which addresses governance, risk management and compliance requirements of front, middle and back offices, including the selection and engagement of service providers.
  • We partner with our clients’ legal advisors to facilitate smooth completion of the legal components of the recommended governance structures
  • Critical review of established governance structures with a focus on delivering recommendations that eliminate dysfunction and leverage better risk management practices.

RISK MANAGEMENT AND COMPLIANCE SERVICES

  • We specialise in helping you make management of risk a regular and integrated aspect of your business- this generates a strategic approach which is better informed through greater risk awareness;
  • For APRA-regulated clients, we have a diagnostic service – Culture Risk – which identifies the level to which a ‘risk culture’ exists (a requirement of APRA Standards in the Banking, Insurance and Superannuation sectors)
  • We provide tailored compliance solutions that do more than just “tick the boxes” – we are experts in embedding compliance into operational activities and minimising staff disruption.

Outsourced Risk Officer

New entrants and early-stage enterprises require executive-level risk management support without the commitment or cost of appointing a full-time resource. Our Outsourced Risk Officer services are tailored to provide expert support to you as and when required.

CORPORATE GOVERNANCE SUPPORT

Resident/Nominee director – Advisory Board Member

Foreign corporations establishing Australian domiciled subsidiaries are required to have an Australian resident director. Governance Worx staff act as the Resident/Nominee Director for foreign clients and provide a liaison point for interaction with Australian regulatory authorities.

The use of external Advisory Boards by Foreign entrants and Australian domiciled corporations has become a more regular occurrence. Governance Worx staff have a broad range of skills that can deliver great benefits when engaged on Advisory Boards.

Local Agent

Foreign companies looking to conduct business in Australia are required to register as a Foreign Company and must appoint a Local Agent. The Local Agent acts as the point of contact with the Australian regulators and is responsible for ensuring all regulatory compliance activities are carried out.

Governance Worx can deliver the Local Agent function and the registered office address for registered Foreign Companies in Australia.

We specialise in providing services to asset managers, superannuation trustees, investment administration platforms, advice distribution participants, private equity groups and family offices.

Contact Philip Anthon

philip@governanceworx.com.au
0429 877 470

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