Updating Results

Australian Prudential Regulation Authority (APRA)

4.3
  • 500 - 1,000 employees

Elpitha Stavropoulos

7.00 AM

I wake up and get ready.

8.00 AM

Commute to Wynyard station and easy walk to Martin Place.

8.20 AM

Start the day by saying hi to the team and catching up on what’s happening with them. I check my emails and remind myself of my appointments for the day. I take note of any meetings and what preparation I might need to do for them. I also check my manager’s calendar and the calendars of my teammates, so I can be aware of what’s happening for them that day and anything I might want to put my hand up for or help out with.

Elpitha at her desk

9.00 AM

I grab a coffee with some of my fellow grads.

Elpitha having coffee

9.20  AM

I am preparing for a prudential review of a regulated entity that will take place in a few weeks’ time. I read through the documentation sent by the entity, as per our request. This includes an overview of its governance structures, risk management framework, remuneration scheme and financial condition report. My team has a meeting in the afternoon to evaluate some of this documentation, in identifying potential prudential concerns we may have in assessing its risk culture. We are looking for potential gaps in and between policies/procedures and practices – what do they say they do vs what they actually do. We call this ‘walking the talk’. We also look at a range of other factors in our supervisory mandate as prudential regulators; that is, in assessing how effective this entity is at managing risk.

Elpitha talking with a colleague

11.00 AM

Team meeting. We get an update from our manager on what the week looks like, what our major tasks are and the outcomes of any significant meetings over the previous week.  We catch up on what everyone has been up to and anything we might want to share with the team, such as an interesting article that’s relevant to our work in regulating governance, risk culture and remuneration. These are always fun meetings as we get time to chat and discuss anything that’s happening both in and beyond the team. 

12.00 PM

Lunchtime futsal! I look forward to my two futsal games per week. I head to the change room facilities in the basement of the building and then meet the rest of the team out the front. We head to the courts to play against a team from another organisation. I get to chat with my futsal team mates on the way there and back, people who work in areas across APRA. I always feel energised after the match. Head back for a quick shower, quick bite and back to work.

1.30 PM

I have a presentation to some of the risk specialist teams (such as investment risk, market risk, operational risk) on a paper I prepared earlier in the year. The paper looks at some of the events of the GFC, seeking to understand the role that risk culture had in the crisis through the lens of institutional failure. I researched and wrote the paper over a few months, with the guidance of my manager. I present for 20 minutes then there are questions for 40. My manager is there to help me answer questions, especially the difficult ones that require years of experience to answer appropriately. The response was positive, and I note some things I should work on for the next presentation to other teams in APRA. 

Elpitha walking the office hall

2.30 PM

Back at my desk checking emails and preparing for the meeting. I write some notes on my high-level observations from my reading, and some outstanding questions that I would like to follow up on. I make a quick reminder to talk to a fellow social club member about a charity run I’m organising.

3.30 PM

Meeting with my team mates. This is an initial meeting that will be followed by more intensive sessions leading up to our time onsite – we will go to the entity’s offices to speak to the Board, to the Executive Committee and to other members of the entity as part of the prudential review. We brainstorm how best to prepare for this review and share some preliminary impressions we have of the entity by looking at its data and documentation. We discuss leadership, capability, organisational structure and some contextual considerations –the industry outlook, pricing cycle and competitive environment. We also note who we need to liaise with at APRA to get some expert insight in some of the areas we are looking at. We use our surface pros to take notes through this meeting and upload them to a share point so we can add and edit as need be.

5.00 PM

Respond to some emails. I prep for the next day by checking my calendar and making a list of things I need to work on tomorrow. 

 

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