The lock downs and domestic work from home instructions have posed unprecedented challenges on the sector’s capacity and capabilities such as Triggering funds’ business continuity plans including the need to equip each fund’s workforce to work from home over remote access.

Challenges posed by global outsource models as off-shore providers go into lock down, impacting their ability to provide services to Australian customers.

Exponential increases in calls to funds’ call centres, not just as a result of the market downturn but spiking to new levels as a result of member enquiries regarding the early release measure and on insurance cover.

The lock downs and domestic work from home instructions have posed challenges on the sector’s capacity and capabilities such as Triggering funds’ business continuity plans – including the need to equip each fund’s workforce to work from home over remote access.

Challenges posed by global outsource models as off-shore providers go into lock down, impacting their ability to provide services to Australian customers.

Exponential increases in calls to funds’ call centres, not just as a result of the market downturn but spiking to new levels as a result of member enquiries regarding the early release measure and on insurance cover.

Exponential demand on processing centres to process switches and early release of super requests received via the ATO. The need to assess and model the impacts the crisis may have on the fund’s assets and liquidity.

The need to respond to this modelling by reviewing asset allocations and implementing out of cycle valuations of unlisted assets.

Readiness to activate il-liquid funds redemption processes – which are outside business as usual processes. Responding to the calls to accelerate remediation programs to get monies back to members’ funds and/or into their bank accounts.