APRA's Innovate Reconciliation Action Plan Nov 2020 - 2022 - Accessible version

Recognition

“A Reconciliation Action Plan is a strategic document that supports an organisation’s business plan. It includes practical actions that will drive an organisation’s contribution to reconciliation both internally and in the communities in which it operates.” 

Reconciliation Australia

By developing a RAP, APRA will:

• implement a tried and tested framework, that is proven to drive reconciliation through practical actions.
• turn APRA’s good intentions into action by formalising our commitment to reconciliation.
• reaffirm institutional integrity by embedding an engaging framework contributing towards good governance practices.
• join a dynamic, supportive and fast-growing network of RAP organisations.
• gain greater esteem as an employer of choice and build a more dynamic and diverse workforce.
• enable our staff to develop greater cultural awareness and professional development practices that will strengthen relationships with Aboriginal and Torres Strait Islander stakeholders.
• gain access to new markets and better engagement with existing markets.
• ensure more effective and relevant service delivery to Aboriginal and Torres Strait Islander peoples and communities.

- Reconciliation Australia

Our Vision

APRA’s vision for reconciliation is a country where Aboriginal and Torres Strait Islander peoples have access to the same opportunities as other Australians; where the financial well-being of Aboriginal   and Torres Strait Islander peoples is protected; and where   Aboriginal and Torres Strait Islander knowledge is respected within the financial system.

We will support this vision by exchanging learnings with Aboriginal and Torres Strait Islander people to enrich our cultural understanding and our regulatory activities. We will value and respect the knowledge of Aboriginal and Torres Strait Islander people as we ensure financial promises are met and strive to deliver enhanced community outcomes.

Acknowledging the importance of Aboriginal and Torres Strait Islander cultures is an important aspect of APRA leadership, people and culture. We will uphold our value of respect to improve relationships with Aboriginal and Torres Strait Islander people within our workplace and will seek meaningful and respectful engagement with First Nations peoples and other stakeholders who are also working towards reconciliation.

Our Business

The Australian Prudential Regulation Authority (APRA) is an independent statutory authority established for the purposes of prudential supervision of financial institutions and for promoting financial system stability in Australia.

APRA is responsible for protecting the interests of depositors, insurance policy-holders and superannuation fund members. Our mandate is to protect the Australian community by establishing and enforcing prudential standards and practices designed to ensure that under all reasonable circumstances, financial promises made by institutions APRA supervises are met within a stable, efficient and competitive financial system.

Our core functions are:

Policy

APRA’s policy function is directed at protecting the Australian community by establishing minimum expectations for financial institutions and empowering APRA’s supervisors to achieve desired outcomes;

Supervision

APRA’s supervision function is directed at protecting the Australian community by identifying and responding to significant risks to financial institutions and the financial system in a timely and effective manner; and

Resolution

APRA’s resolution function is directed at protecting the Australian community from financial loss and disruption by planning for and implementing prompt and effective responses to a crisis in the financial system.

APRA employs over 900 people including one Aboriginal and Torres Strait Islander staff member, and has offices in Sydney, Melbourne, Brisbane, Adelaide and Canberra. Organisationally and operationally, APRA lives by its core values:

• Integrity
• Collaboration
• Accountability
• Respect
• Excellence

Our Reconciliation Action Plan

APRA recognises there is a role for government agencies in building a united Australia where Aboriginal and Torres Strait Islander heritages, cultures and peoples are respected and valued. To this end APRA is keen to play a part in Reconciliation and has developed this RAP to translate our commitment into practical deliverables. These deliverables build on the foundations laid through our first Reflect RAP in 2017-18, including:

Participation in the Jawun Program

This ongoing program enables APRA to support Reconciliation by placing skilled APRA employee in Aboriginal and Torres Strait Islander organisations to share their expertise and assist the organisations to achieve their goals and objectives.

Involvement in the Indigenous Australian Government Development Program

APRA continues to offer traineeship opportunities to Aboriginal and Torres Strait Islander people through this program. Trainees are members of the RAP working group and assist APRA to learn more about Aboriginal and Torres Strait Islander cultures.

Events and displays marking National Reconciliation Week

APRA supports National Reconciliation Week (NRW) through raising awareness of the significance of NRW and encouraging employee to participate in events and taking the opportunity to learn about Aboriginal and Torres Strait Islander cultures and experiences.

Events and displays during NAIDOC Week

APRA’s NAIDOC Week celebrations included a range of talks, displays, visits and information about Aboriginal and Torres Strait Islander cultures. Events were held in all APRA offices, increasing the opportunities for employee from across APRA to appreciate the richness and diversity of Aboriginal and Torres Strait Islander cultures.

Continuing to participate in the Commonwealth Government’s Indigenous Procurement Policy

This initiative is another way in which APRA, as part of the Commonwealth Government, is able to provide practical support to Reconciliation through ensuring that where appropriate, Aboriginal and Torres Strait Islander businesses are considered for procurement opportunities that arise.

RAP identified as one of priority areas under APRA’s Inclusion & Diversity Strategy

APRA’s vision for Inclusion & Diversity is that as an organisation we embrace differences and work together, to achieve great outcomes for APRA and the Australian community. Developing a RAP is a key priority of our Inclusion & Diversity Strategy.

Application of Welcome to and Acknowledgement of Country

Endorsement and application of protocols for conducting Welcome to and Acknowledgement of Country, including circulating cards to assist senior executives perform an Acknowledgement of Country at appropriate events.

Establishing a network with partner agencies

APRA is working with the Reserve Bank of Australia (RBA), Australian Competition and Consumer Commission (ACCC) and Australian Securities and Investments Commission (ASIC) to share ideas and approaches to Reconciliation.

APRA’s second RAP is an Innovate RAP, designed to build on the foundations of our first Reflect RAP to continue our reconciliation journey and focusing on the following themes:

1.    Establishing strong relationships

with Aboriginal and Torres Strait Islander individuals and organisations with a key focus on supporting Aboriginal and Torres Strait Islander become more involved in and connected to, the financial sector.

 

2.    Respecting

Aboriginal and Torres Strait Islander peoples, cultures and histories through visible recognition of the role Aboriginal and Torres Strait Islander cultures and histories has played in influencing the Australia of today and tomorrow.

 

3.    Creating opportunities within APRA

for Aboriginal and Torres Strait Islander people through developing our capability to attract and retain Aboriginal and Torres Strait Islander staff and continuing to support and encourage the provision of goods and services to APRA by Aboriginal and Torres Strait Islander corporations, individuals and groups.

 

4.    Strong Governance

over our Reconciliation Action Plan to ensure we deliver on our commitments.

The diagram below depicts the foundation actions delivered through our Reflect RAP and the direction we are taking with those actions to support delivery of the themes in our Innovate RAP.

Message from the Chairman

The RAP has been approved by the APRA Executive Committee following review and refresh of the 2017- 18 RAP by a volunteer Working Group (WG) spanning all levels of staff within APRA, including Aboriginal and Torres Strait Islander staff, regional office representatives and a new RAPWG chair at the General Manager level.

Internally, Reconciliation is championed by the Executive Director, Cross Industry Division and the Executive Director, Banking Division, and is a priority area in APRA’s Inclusion and Diversity Strategy.

Current membership of the RAPWG is:

• General Manager Branch 2, Superannuation
• Division, Sydney – Chair of the RAPWG
• Senior Manager, Resolution Branch, Sydney
• Talent Partner Talent, Enterprise Services Division Sydney
• Risk Specialist Remuneration & Accountability, Governance, Remuneration, Culture and Accountability Division, Sydney
• Manager Private Health Insurance, Insurance
• Division, Canberra
• Senior Manager Branch 1, Superannuation Division, Melbourne
• Senior Solicitor, Policy and Advice Division, Sydney
• Policy Advisor Superannuation, Policy and Advice Division, Sydney
• Principal Analyst Investigations, Policy and Advice Division, Sydney
• Principal Analyst Data Frameworks, Cross Industry Insights and Data Division, Sydney
• Senior External Communications Advisor, Enterprise Services Division, Sydney
• Senior Systems Engineer, Enterprise Services Division, Sydney

All Aboriginal and Torres Strait Islander employees of APRA are encouraged to join the RAPWG in order to incorporate Aboriginal and Torres Strait Islander perspectives on APRA’s approach to Reconciliation. APRA has engaged the services of Two Point Co. (an Aboriginal and Torres Strait Islander owned consultancy) to review our approach to developing our Innovate RAP.

Indigenous perspectives on APRA’s approach to Reconciliation are obtained from the Senior Systems Engineer, Enterprise Services Division who is a proud Yorta Yorta man and member of the RAPWG.

APRA’s Innovate RAP continues our Reconciliation journey, seeking to build on the foundation of awareness and support for Reconciliation through more strategic use of APRA’s  unique role  and skill sets. It also continues APRA’s commitment  to core Reconciliation activities including cultural learning, practicing cultural protocols and growing our contribution to Aboriginal and Torres Strait Islander employment.

Wayne Byres Chairman, APRA

Relationships

Establishing strong relationships with Aboriginal and Torres Strait Islander individuals and organisations will facilitate the exchange of learnings with Aboriginal and Torres Strait Islander people to enrich our cultural understanding and our regulatory activities.

We will do this through connecting with local communities and supporting Aboriginal and Torres Strait Islander Australians become more involved in and connected to, the financial sector.

Focus area: Building strong relationships with Aboriginal and Torres Strait Islander peoples supports APRA’s strategic priority to improve external engagement and collaboration.

Action - Establish and maintain mutually beneficial relationships with Aboriginal and Torres Strait Islander stakeholders and organisations

Action - Build relationships through celebrating National Reconciliation Week (NRW)

Action - Promote reconciliation through our sphere of influence

Action - Promote positive race relations through anti-discrimination strategies

Respect

Through respect, recognition and understanding of Aboriginal and Torres Strait Islander peoples, cultures and histories, APRA will be in a better position to contribute in a meaningful way to Reconciliation.

We will demonstrate respect through recognition and build understanding by supporting our staff to contribute to Aboriginal and Torres Strait Islander organisations and communities through APRA initiated activities.

Focus area: Through building respect for Aboriginal and Torres Strait Islander peoples, APRA is in a stronger position to deliver its mandate to protect the Australian community.

Action - Increase understanding, value and recognition of Aboriginal and Torres Strait Islander cultures, histories, knowledge and rights through cultural learning

Action - Demonstrate respect to Aboriginal and Torres Strait Islander peoples by observing cultural protocols.

Action - Build respect for Aboriginal and Torres Strait Islander cultures and histories by celebrating NAIDOC Week.

Opportunities

Creating opportunities for Aboriginal and Torres Strait Islander people is an important commitment for APRA as a representative of the government.

We will do this through continuing to participate in the Indigenous Australian Government Development Program, developing our capability to attract and retain Aboriginal and Torres Strait Islander staff and continuing to support and encourage the provision of goods and services to APRA by Aboriginal and Torres Strait Islander corporations, individuals and groups.

Focus area: Providing opportunities for Aboriginal and Torres Strait Islander peoples builds APRA’s internal capabilities, supporting the provision of an inclusive workplace that values diversity.

Action - Improve employment outcomes by increasing Aboriginal and Torres Strait Islander recruitment, retention and professional development.

Action - Support Aboriginal and Torres Strait Islander involvement in the financial sector

Action - Increase Aboriginal and Torres Strait Islander supplier diversity to support improved economic and social outcomes.

Governance

Through strong governance of the Reconciliation Action Plan, APRA will be in a better position to deliver on its commitments in the RAP and take corrective action when necessary.

Action - Establish and maintain an effective RAP Working group (RWG) to drive governance of the RAP.

Action - Provide appropriate support for effective implementation of RAP commitments.

Action - Build accountability and transparency through reporting RAP achievements, challenges and learnings both internally and externally.

Action - Continue our reconciliation journey by developing our next RAP.

Contact details

Name: Katrina Ellis

Position: Chair, RAP Working Group

Phone: 02 9210 3670

Email:Katrina.Ellis@apra.gov.au