FISA Assessment Subjects

  • POLICY
  1. Government oversight of regulatory bodies
  2. Alignment with international protocols
  3. National anti-corruption and integrity policy
  4. Resourcing regulatory bodies
  5. Continuous improvement
  • GOVERNANCE
  1. Tone at the top
  2. Strategic direction, planning and execution, reporting and independent assurance
  3. Relationship between governing bodies and regulators
  4. Policies for responsible investment and lending
  • ACCOUNTABILITY
  1. Regulation of financial organisations
  2. Asset disposal
  3. Quality of scrutiny
  4. Paying tax
  • INFORMATION AND COMMUNICATION
  1. Communication about the state of the financial system
  2. Transparency of regulatory bodies’ budgets mandates and resourcing
  3. Public communication by financial organisations
  4. Corporate social responsibility
  5. Public debate on integrity of the financial system
  6. Public debate on bribery and corruption
  • HUMAN CAPITAL
  1. Organisational culture
  2. Auditing the risk culture
  3. Incentives for anti-corruption and integrity-promoting behaviours
  4. Merit-based appointments and promotions
  5. “Know your employees”
  • CUSTOMERS
  1. “Know your customers”
  2. Trusted regulatory bodies
  3. Consistent due diligence
  4. Featuring integrity in promotional materials
  5. Demonstrating integrity in dealings with customers
  • OPERATIONS
  1. Expectations of operational managers
  2. Tracking the risk of corruption and value of integrity systems
  3. Use of external advisors and contractors
  4. Helping build the national reputation
  • RISK MANAGEMENT AND MONITORING
  1. Risk management frameworks
  2. Responding to international monitoring
  3. Identifying the value to New Zealand of financial system integrity
  4. Transparent resourcing of financial oversight
  • PROCUREMENT
  1. Minimising risk in procurement
  2. Procurement staff training