Does your Senior Management team understand the BEAR ESSENTIALS? We can Help.

What is the Banking Executive Accountability Regime?

The Banking Executive Accountability Regime (BEAR) imposes significant accountability obligations on authorised deposit-taking institutions.  The amended Banking Act provisions target senior executives and enforces greater penalties for a failure to comply with the transparency and accountability measures administered by the Australian Prudential Regulation Authority (APRA).

Who are your Accountable Persons?

The number of accountable persons in an ADI will depend on the size of the institution and
the complexity of its organisation:

  • A larger ADI will likely have a number of  business units, each with its own set of accountable persons
  • In a larger ADI, more of the BEAR prescribed responsibilities are managed by individuals at senior executive level

GRC Solutions now provides several training options

eLearning Course

The training is delivered in two modules, each with a context-setting scenario and a set of quiz questions.

They are designed to be rolled out to all the accountable persons within an ADI operating in Australia.
The content covers the machinery provisions of the BEAR legislation to the extent that they are relevant to an accountable person’s need to understand the operation of the BEAR within their organization.

The content also covers information that is not available from the BEAR legislation or directly from APRA guidance. For example, it looks at what other legislation has to say about:

  • Acting with honesty and integrity
  • Acting with due skill, care and diligence
  • Expressions included in but not explained by the BEAR legislation

For more information please contact us at contactus@grcsolutions.com.au
Briefing Sessions for Boards and Senior Management

Does your Board, CEO and senior management understand their new accountability obligations under the new Banking Executive Accountability Regime (BEAR)? GRC Solutions offers face-to-face interactive presentations  to assist your directors and executives in their new role as ‘accountable persons’ as they meet the challenge of embedding the BEAR within your organisation. GRC Solutions’ interactive sessions will cover:

  • the scope and purpose of the BEAR
  • your ADI’s accountability obligations
  • your ADI’s key personnel obligations
  • your accountable persons’ accountability obligations

Our face-to-face sessions will tell what you need to know if you are paying variable remuneration to your directors or other accountable persons and how and when you will have to deal with APRA.

The sessions will also offer practical guidance on how your board and senior executives can embed a culture of BEAR compliance within your ADI. Practical information, not available from the legislation, will guide your board  setting standards of conduct designed to reduce reputational and other risks to the prudential standing of your ADI.

Guy Griffin, Senior Lawyer

Guy specialises in financial services and credit licensing compliance . His other areas of practice include prudential risk and compliance for ADIs and advising on all aspects, legal and non-legal, of effective board governance for ADI directors.

Liam O'Brien, Senior Consultant. Liam is a vital member of the GRC Solutions team.Liam O’Brien, Senior Consultant

Liam is a highly regarded risk and compliance expert and workshop presenter. He helps organisations develop a successful risk and compliance program by converting a strategy into an operational program of work.

For more information contact Guy Griffin at guy.griffin@grcsolutions.com.au
Governance Support from Ash St Lawyers

To help you be ready for the Banking Executive Accountability Regime ready, our strategic partner Ash St. are able to provide you with dedicated Governance support tailored to the precise needs of your organisation. This includes developing/ reviewing Accountability Maps and Statements right through to reviewing/adding provisions to employment contracts. Find out more here