Superannuation (prudential standard) determination No. 2 of 2012 - Prudential Standard SPS 220 - Risk Management
Strategic and business planningStrategic and business planning
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Strategic and business planning
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An RSE licensee must have a written plan that sets out the strategic direction of the RSE licensee’s approach to managing its business operations (business plan). The business plan must cover the entirety of the RSE licensee’s business operations, be aligned with the risk management framework and be approved by the Board prior to its adoption and at any time that it is materially revised. The business plan must be a rolling plan of at least three, but no more than five, years’ duration that is reviewed at least annually (or as close to annually as is practical), with the results of the review reported to the Board.
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An RSE licensee’s strategic and business planning process must:
(a) identify and consider those material risks associated with the RSE licensee’s strategic objectives and business plan that are required to be explicitly addressed and managed through the risk management framework; and
(b) consider the material risks that have been identified by the risk management framework.