corporate social responsibility gavin mccosker
TRANSCRIPT
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Gavin McCoskerChief Operating OfficerAustralian Financial Security Authority
Corporate Social Responsibility – the interaction with registry operations
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• A holistic approach
• Public good
• Equity of access
• Ethical supply chains
• Transparent environmental standards
Corporate social responsibility
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• Familiar with values of corporate social responsibility
• Influence behaviour of corporations
• Work in partnership
What role can government play?
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• Significant micro-economic reform
• Replaced:
- around 70 pieces of federal, state and territory legislation
- and about 30-40 national, state and territory registers.
Personal Property Securities reform
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• Support economic growth
• Reduce cost of doing business
- one national register
- single low fee
• Reduce complexity• Increase consistency
Intention of PPSR
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Different channels – same functionality- Credit Bureau- Banks- Non-bank finance companies- Information brokers
- Small/medium business- Non-bank finance companies- Individuals
- Small/medium business- Individuals
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• Online register - available 24 / 7
• Supported by national service centre
• Direct registrations and searches by anyone – individuals or corporations
• Private companies can use register to offer value-added services
• Significant reform – supports private sector risk management and access to capital
Personal Property Securities Register
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• Current - authentication of users via email
• Future
• Standard Business Reporting (xBRL)
• Proof of identity for individuals (secure online automated system)
• Proof of identity for business through
AUSkey (business to government
online system)
• Consistent with online insolvency system
Data integrity is critical – start from the front door
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•Secure interaction with other registers
• Validation at the point of entry (registration and
search)
• Companies register (ASIC)
• Australian Business Register (Tax office)
• Vehicle information (VIN, stolen, written off –
amalgamation of state based databases)
• Proof of identity– Individuals – Attorney-General’s Department
– Business (AUSKey) – Tax office
Data integrity is critical…continued
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•PPSR a different model
- as facilitator - maintain register in accordance with legislation
- as enabler - work with others to add value and deliver
Australian Financial Security Authority
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• Majority of transactions made by business to government (B2G) providers – growing and competitive market
• Sustained growth in use of PPSR
• Stability of the PPSR
Achieving the right balance
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• We’re clear about our role
• We have a close working relationship with a range of stakeholders
• We focus on maintaining a competitive environment
• We encourage innovation
• We effectively manage compliance
Achieving our outcomes
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Effective stakeholder engagement• Essential to success of the PPSR
• Regular, meaningful engagement > identifies service gaps > co-design solutions
• Regular dialogue with cross-section of stakeholders > builds understanding of competing demands > builds commitment to longer-term benefits
Influencing corporate social responsibility
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Encourage competition• Builds capacity of private sector
• Value-add products genuinely competitive with direct access
• Builds market – including harder to reach sectors
• Technical information freely provided > helps potential clients to cost and assess risks
• Limit administrative burden > ease of start up & investment
Influencing corporate social responsibility
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Drive innovation• Competitive environment drives innovation
• Co-design technical enhancements > delivers tangible functional improvements and removes technical barriers > creates an environment conducive to innovation
• Investment by AFSA > improved register stability
• Co-design > allows AFSA to keep pace with market expectations and ensures innovation that helps build equity of access
Influencing corporate social responsibility
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Monitor compliance• Our terms and conditions ensure register operates well
• Private sector providers have a vested interest in the register operating well
• Private sector providers therefore have vested interest in complying with terms and conditions
• Support self-reporting of non-compliance and assist efforts to comply
Influencing corporate social responsibility
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Government agencies can
influence corporate social responsibility• Be clear about the outcomes you need
• Be clear about the role of government
• Commit to genuine engagement with stakeholders
• Encourage competition and innovation
• Build confidence in your providers to self report non-compliance – and support their efforts to comply
Conclusion
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Questions / Comments