APRA CPS 234
The Prudential Standard CPS 234 standard came into effect on 1 July 2019, and where an APRA-regulated entity’s information assets are managed by a third party, the requirements in the Prudential Standard become applicable on the earlier of the next renewal date with Grace, or 1 July 2020.
*to record the classification of information to aid in effective information management based on sensitivity;
We have also:
*launched enhanced services to the Grace Digital Office which adds a broader selection of information management solutions, and brings additional information security capabilities to our hard copy storage capabilities;
Efficient Information Management in the Finance Industry
In an on-demand financial world, having instant and secure access to information can mean the difference between closing a deal and losing it.
A range of obstacles can stand between you and the information you need, such as document custody processes, regulatory requirements and ineffective record keeping. Strong information management not only ensures staff are well resources, but also satisfies today’s time-conscious clients.
The experts at Grace Information Management provide multifaceted solutions, tailored specifically to your needs to best improve your information storage and access.
Secure Information and Data
While most organisations know where and when their document retention obligations end, most aren’t willing to commit to sentencing schedules. This is commonly caused by uncertainty around what company archives contain. Introducing sentencing schedules reduces security risks by ensuring important documents aren’t accidentally destroyed while also minimising costs by eliminating the storage of unnecessary data.
As corporate data breaches continue to make headlines and the Notifiable Data Breaches scheme keeps the focus on company obligations, client mistrust is only going to grow within the financial industry. This makes it all the more important to maintain sound and secure information management practices including effective sentencing.
Grace provides strict security to ensure the confidentiality of your information across all stages of the data lifecycle. From transit through to destruction, Grace controls the entire process without the use of subcontractors or third parties, while offering 24/7 surveillance and state of the art alarm systems.
Timely Data Access
Through Grace’s electronic inventory and tracking services, you can be assured of where your files are at all times and request them for speedy access. Overall, our solutions are designed to make your business processes run as smoothly as possible.
An effective information management system will save you time and money by optimising record retrieval and supporting existing workflows. An automated workflow process helps prevent human errors and associated risks, such as accidental file deletion or lost records due to insufficient tracking capabilities.
The Grace dedication to data security and transparency for our clients ensures your information is protected and accessible, supporting your operational requirements and regulatory obligations all at once.
Smarter, Stronger Information Management
Whether it’s the challenges of prolonged retention, security risks or time lost in discovery, Grace’s information management solutions can face them. Our team of experts maintain a sound understanding of legislative requirements and statutory obligations, ensuring we are consistently protecting your business. We’re able to keep track of your stored information, established retention and sentencing schedules and ensure your documents are destroyed at the end of their lifespan. We also provide proof of destruction for audit compliance.
With over 50 years’ experience in information management, Grace has the expertise to craft tailored solutions to best meet your needs. From customised retention schedules to targeted workflow processes integrated into your existing systems, we provide seamless information management. Our intuitive and responsive interfaces support effective digitisation, with indexing that reflects your current processes to support ongoing ease of use and employee buy in.
This is further supported by our secure, company-owned fleet and police checked workforce., ensuring complete security at every stage of the process. Grace balances the needs of confidentiality and data security with timely access, making sure you can search for your records faster without having to worry about privacy concerns.
|Download our report, Record Profits for information on how addressing the information management speed bumps in the finance industry can help your business profit.|
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