Document ID: chunk:federal_register_of_legislation:F2024C00701:body:0:p2
Version: federal_register_of_legislation:F2024C00701
Segment Type: other
Provision Reference: 
Character Range: 2874–6725

regulatory reporting;
(g) hardship processes;
(h) liquidity and funding management;
(i) market risk management;
(j) operational risk management;
(k) product design and distribution obligations;
(l) product origination;
(m) recovery and exit planning and resolution planning;
(n) scam management;
(o) technology management;
(p) training and monitoring of relevant representatives and staff; and
(q) whistleblower policy and process.
ADI Key Function Requirements means the following requirements:
           (a)          the key function is undertaken by an accountable entity which is an ADI or an authorised NOHC of an ADI; and
           (b)          an accountable person has actual or effective senior executive responsibility for management or control of the whole of, or a significant or substantial part or aspect of, the key function.
Insurance Key Function means each of the following key functions only if the Insurance Key Function Requirements apply to a particular key function:
           (a)          capital management;
           (b)          conduct risk management;
           (c)          data management;
           (d)          financial and regulatory reporting;
           (e)          hardship processes;
           (f)           insurance risk management;
           (g)          operational risk management;
           (h)          product design and distribution obligations;
           (i)            product origination;
           (j)            recovery and exit planning and resolution planning;
           (k)          reinsurance management;
           (l)            scam management;
           (m)        technology management;
           (n)          training and monitoring of relevant representatives and staff;
           (o)          underwriting; and
           (p)          whistleblower policy and process.
Insurance Key Function Requirements means the following requirements:
           (a)          the key function is undertaken by an accountable entity which is a general insurer, an authorised NOHC of a general insurer, a life company, a registered NOHC of a life company, or a private health insurer; and
           (b)          an accountable person has actual or effective senior executive responsibility for management or control of the whole of, or a significant or substantial part or aspect of, the key function.
register means the register established under section 40 of the Act.
RSE licensee Key Function means each of the following key functions only if the RSE licensee Key Function Requirements apply to a particular key function:
           (a)          conduct risk management;
           (b)          data management;
           (c)          financial and regulatory reporting;
           (d)          hardship processes;
           (e)          investment management;
           (f)           liquidity management;
           (g)          marketing and advertising;
           (h)          member outcomes and member engagement;
           (i)            operational risk management;
           (j)            product design and distribution obligations;
           (k)          product origination;
           (l)            recovery and exit planning and resolution planning;
           (m)        scam management;
           (n)          technology management;
           (o)          training and monitoring of relevant representatives and staff; and
           (p)          whistleblower policy and process.
       RSE licensee Key Function Requirements means the following requirements:
(a)          the key function is undertaken by an accountable entity which is a RSE licensee; and
(b)          an accountable person has actual or effective senior executive responsibility for management or control of the whole of, or a significant or substantial part or aspect of, the key