Millions of employees have had salaries and working hours reduced or stopped suddenly due to changes in employment conditions. According to the Budget Overview the Government's JobKeeper payments have supported over 3.8 million workers with the payment of $60 billion in wages.
Read MoreAt QMV, we believe that robust data quality management practices not only increase member engagement but also help solidify members’ trust in the company. Recognising a growing demand for more control and customisation around reporting, QMV are very pleased to present the latest version of Investigate featuring some significant enhancements that reaffirms our commitment to meeting our customer’s needs for superior data quality management.
Read MoreA Successor Fund Transfer (SFT) or merge is an opportunity for funds to create greater scale that can be readily translated to benefits for the member. In an environment of increasing investor advocacy, a merge that builds “cultural” scale could be an alternative for funds with a strong member voice.
Read MoreIt is no longer solely the domain of lawyers and judges to interpret the regulatory obligations placed on superannuation funds. It is an increasingly important skill for senior executives, risk, compliance, and even project and IT professionals.
Read MoreWendy offers over 20 years’ experience in financial services and has lead global consulting businesses in a range of disciplines including insurance, technology and human behaviour in the work environment.
Read MoreOne of the most important components of the due diligence process in superannuation fund mergers are cost projections and agreeing on who’s members are paying for what. There are many risks involved in mergers, but equally there are opportunity costs and risks associated with not doing it
Read MoreGabriela began her career in financial services in the United States, where she later practised as a lawyer with special focus on insurance and complex business matters. Since relocating to Australia, Gabriela has been involved in a broad range of projects assisting superannuation funds with regulatory compliance, risk management and governance issues.
Read MoreOne of the most important components of the due diligence process in superannuation fund mergers are cost projections and agreeing on who’s members are paying for what. There are many risks involved in mergers, but equally there are opportunity costs and risks associated with not doing it
Read MoreEven though reputable third-party providers have data governance frameworks and performance metrics in place, it is important to recognise inherent bias and that data quality governance is not often their core capability. Data quality must be independently and routinely monitored and validated. If access to the data can be obtained, an independent audit can often uncover widespread error for which regulatory breach and costly remediation is a legitimate risk.
Read MoreMany promising superannuation fund mergers over the last decade have failed to eventuate and unfortunately there is little to no research to help us understand why. The question is, why are merger talks prone to collapse especially after the many efforts, expectations and money invested in due diligence, even when benefits to members, employees and the fund seem to be clear?
Read MoreThe question, “Should my fund continue to exist?” if asked three months from today, may produce different answers to the same question if asked earlier in 2020. Smaller funds with members concentrated in vulnerable industries are taking most of the heat around viability during the coronavirus crisis, but cracks are showing up across many funds.
Read MoreTo better support Investigate clients with coronavirus related measures affecting superannuation administration, QMV has released a data assurance content pack dedicated to staying on top of the Coronavirus Economic Response Package.
Read MoreMillions of employees have or will have salaries and working hours reduced or stopped suddenly due to changes in employment conditions. Current estimates indicate that the government’s proposed JobKeeper payment will help pay the wages of 6.7 million workers (source ABC).
Read MoreSix weeks ago, superannuation fund executives knew exactly what their priorities were. Today, protecting the pride while re-imagining the future is a dual task requiring serious intellectual horsepower.
Read MoreContact centre overflow at superannuation funds and third-party administrators has relied upon incredible ingenuity and innovation to manage extreme demand amid the COVID-19 crisis. Current inbound member enquiry is consistently greater than double the norm with major spikes observed tripling and quadrupling enquiry rates.
Read MoreIn response to the ongoing COVID-19 pandemic, the Australian government has passed legislation to allow affected individuals early access of up to $10,000 from their superannuation. Due to the fast-paced nature of the crisis, superannuation funds and administrators are working vigorously provide members with the services and information they need.
Read MoreThis article shares initial thoughts on what superannuation trustees should be thinking about, and what they might be able to do to best position themselves to navigate the COVID-19 pandemic (and related economic carnage) with compassion, prudence, and a sense of purpose.
Read MoreQMV recently held our annual trivia night to raise funds for The Flemington Homework Club. We raised $6,647 for this worthy cause and it would not have been possible without the generosity and intellectual horsepower of our guests!
Read MoreTrustees regularly put their administration up for tender and a successful bid often results in a fund migration. This may be between administrators or just platforms within an administrator. Each migration is unique and presents its own set of challenges and disruptions…
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