Transparency International New Zealand (TINZ) will launch its FISA online self-assessment today.
The FISA Self-Assessment is designed for financial organizations: banks, financial service providers, KiwiSaver providers, credit unions, building societies, insurance companies, and related financial institutions such as trust companies and asset managers. funds.
The free, voluntary assessment helps organizations examine how well they are implementing integrity practices that shape and reinforce culture and conduct – and how they can consider embedding a culture of continuous improvement. Taking a team approach, Respondents work across nine priority areas including governance, accountability, client services, risk oversight and procurement. This is a self-assessment tool, in which respondents are asked to provide proof of their score.
Upon completion, respondents will receive a copy of their answers and a score against a set of benchmark questions that measure minimum requirements set by financial regulators, by law, or best practice. For example, reference questions are included on protected disclosure, code of conduct and anti-corruption.
The results of the self-assessment will be anonymized and aggregated over time. Participating financial organizations will be able to receive their results to compare with their industry and the sector as a whole.
TINZ will publicly report aggregated and anonymized results.
“The FISA online self-assessment is ready to meet the market, and at the right time.” says Julie Haggie, CEO of TINZ. “The self-assessment provides an opportunity for the finance organization to provide a proactive response, reinforcing the organization-wide commitment to customer relationships and best practices.”
“Leadership teams know that culture and conduct are more than promotional words in a prospectus or strategy. They know that persistent, proactive attention – looking under the hood – is what protects their reputation and builds customer confidence,” says Anne Tolley, President of Transparency International New Zealand. “The management team’s approach to FISA Self Assessment leads to internal self-assessment. It’s free AND it’s good for business.
TINZ is proud to lead this initiative to provide New Zealand financial organizations with a means to review their culture and conduct, and contribute positively to New Zealand’s reputation for high integrity.
Information on the FISA self-assessment is available on the TINZ website.
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