Quality, Risk and Compliance

Standard & Poor’s servicer evaluation

AMAL is in its fifth year of evaluation by Standard & Poor’s Ratings Services and has been assigned an ABOVE AVERAGE servicer ranking in all five years.

In 2009, the ranking for the Management and Organisation component of the evaluation was upgraded from ABOVE AVERAGE to STRONG. Standard & Poor’s noted that this was on the basis of:

• A highly experienced management team leading a qualified servicing workforce.

• Well designed and thorough operating and servicing policies and practices surrounding process and controls.

• An effective risk management and compliance framework, which is underpinned by a newly implemented risk management tool to identify, manage and report risk processes and issues.

• A strengthened corporate governance structure.

The full 2009 servicer evaluation can be downloaded HERE.

Quality management

AMAL is committed at all levels of the organisation to the highest level of customer service and continual improvement of process. As part of this commitment AMAL has implemented a Quality Management System, pursuant to the International Standard ISO9001:2008.

The ISO9001:2008 program provides AMAL with an independent auditing and certification structure for the quality system and is evidence of full compliance with international quality standards.

Internal controls

Each year Ernst and Young conducts a review of AMAL’s internal controls. The audit is conducted in line with the Australian Auditing and Assurance Standards Board’s (AUASB) GS007 requirements and is a requirement for our customers’ audit and reporting.

Risk management

AMAL has implemented a risk management program, fully compliant with the Australian and New Zealand standard AS/NZ4360 and the new ISO standard ISO31000.

The risk management program is managed using an integrated, web-based solution called Risk 360, which is provided by Risk 360 Solutions Pty Ltd.