Accreditation

Trustee Director Accreditation

About

As fiduciaries, trustee directors are held to a higher standard than directors governed by the Corporations Act alone. ASFA’s Trustee Director Accreditation recognises those professionals with this specialised education and skill set, and validates their suitability to sit on superannuation boards.

There are two levels of Trustee Director Accreditation – Trustee Fellow and Trustee Associate. To obtain either level of Accreditation, specific ASFA governance workshops must be completed. The completion of these workshops combined with prior education and experience can see you recognised as a Trustee Associate or Trustee Fellow.

The governance workshops are specifically tailored to the superannuation industry to ensure trustee directors are aware of, understand and can meet their obligations under:

  • the Superannuation Industry (Supervision) Act 1993 (SIS Act)
  • the APRA Prudential Standards
  • the Corporations Act (2001).

Benefits

Accreditation has a range of benefits, including:

  • being seen as a true expert on superannuation for the duration of your career
  • post-nominals of (TAASFA or TFASFA) for use in ASFA and personal documentation
  • eligibility for life membership nomination
  • listing in the directory of current Trustee Fellows and Trustee Associates in annual reports and on the ASFA website (optional)
  • listing of your new status in Superfunds magazine
  • invitations to attend exclusive events.

Where to start?

You’ll need to complete the ASFA governance workshops in order to apply for accreditation. There are five workshops that, once completed, are combined with professional experience and prior education, to gain Trustee Director Accreditation.

Each workshop within the program is delivered by experts in their field and learning is enhanced by having attendees from all industry sectors, with a wide range of backgrounds, sharing their knowledge and discussing case studies.

Further details of full requirements, including professional experience and prior education, are detailed in the table below.

Requirements

Trustee Associate Trustee Fellow
Experience and contribution
  • Six years’ experience in the superannuation industry or other recognised fields. Recognised fields may include: banking and financial services; law; accountancy and actuarial studies; responsibility of investments of a not-for-profit association, charitable trust, educational institution or other similar organisation
  • Two references: one from an ASFA Fellow or Associate and one other reference
  • Detailed curriculum vitae (CV) outlining experience in the super industry or other recognised fields
  • Maintaining a minimum of 30 continuing professional development (CPD) points in any given membership year, including at least 15 trustee points awarded by ASFA (as indicated in an individual’s annual CPD report)
  • Membership of ASFA, either as an employee of a member or as an individual member (see Membership)
  • Acceptance of the ASFA Code of Ethics
  • Ten years’ experience in the superannuation industry or other recognised fields.
  • Three years’ experience as a member of a board and/or board committee. Recognised fields may include: banking and financial services; law; accountancy and actuarial studies; responsibility of investments of a not-for-profit association, charitable trust, educational institution or other similar organisation
  • Two references: one from an ASFA Fellow or Associate and one other reference
  • Detailed curriculum vitae (CV) outlining experience in the super industry or other recognised fields
  • Maintaining a minimum of 30 continuing professional development (CPD) points in any given membership year, including at least 15 trustee points awarded by ASFA (as indicated in an individual’s annual CPD report)
  • Membership of ASFA, either as an employee of a member or as an individual member (see Membership)
  • Acceptance of the ASFA Code of Ethics
Education

And one or more of following:

  • RG 146 Superannuation
  • Diploma of Superannuation or Diploma of Financial Planning
  • Graduate Certificate listed on ASIC’s register of compliant courses for RG 146 in superannuation
  • Relevant higher level qualification.

And one or more of following:

  • Diploma of Superannuation or Diploma of Financial Planning (or equivalent)
  • Advanced Diploma of Superannuation
  • ASFA Diploma of Superannuation Management (ASFA qualification previously available)
  • Bachelor’s degree with a superannuation major and listed on ASIC’s register of compliant courses for RG 146 in superannuation
  • Graduate Diploma or master’s degree listed on ASIC’s register of compliant courses for RG 146 in superannuation
  • You’re an actuary who has completed Part III of the Institute of Actuary’s Program
  • You’re a recognised accountant who has completed courses listed on ASIC’s register of compliant courses for RG 146 in superannuation
  • You’re a lawyer who has completed formal training relevant to superannuation.

ASFA’s Education and Professional Accreditation Review Committee (EPARC) reserves the right to exercise its discretion in terms of the above criteria.

Maintaining your accreditation

To ensure our accredited members maintain their professional currency and industry standards are upheld, ASFA has a formal Continuing Professional Development (CPD) requirement that people must meet in order to maintain their ASFA accreditation.

To maintain your accreditation:

  1. you must complete a minimum of 30 points of CPD each year. At least 15 points (half the minimum) must be completed through ASFA activities.
  2. Associates, Fellows, Trustee Associates or Trustee Fellows must continue to be a financial member of ASFA, either by employment with a member organisation or through individual membership.

An audit process for Associates, Fellows,Trustee Associates and Trustee Fellows is undertaken annually to ensure compliance with the minimum standard. For further details, see our CPD page.