How we work
Rules of the FSC
Our Code of Conduct
The Code of Conduct supports existing law and regulations, bringing self-regulation to the industry.
Recognising the need for the industry to take action to improve itself, FSC members worked together to develop a code of conduct that promotes good conduct and a strong customer-focused culture.
As a membership organisation, the FSC has a committee structure to manage and develop our work. Below is the Committee Structure (October 2023).
The FSC's vision is to grow the financial confidence and wellbeing of New Zealanders and we have three areas of strategic intent:
STRONG & SUSTAINABLE CONSUMER OUTCOMES
SUSTAINABILITY OF THE FINANCIAL SERVICES SECTOR
INCREASING PROFESSIONALISM & TRUST OF THE INDUSTRY
The FSC's aim is to:
- be recognised as an organisation that represents the interests of the New Zealand financial services industry, including to regulators and Government;
- promote best practice and integrity in the financial services industry, including through the institution of codes of conduct, standards and the publication of guidance for industry participants;
- promote the financial services industry for the economic benefit of New Zealand and to enhance the sustainability of the industry, whilst recognising the primacy of the interests of consumers;
- develop and promote evidence-based policies and practices designed to assist New Zealanders to build and protect their wealth;
- promote the financial services industry as a medium for investment and protection for consumers;
- promote, assist and generally advance the interests of members.
The mission of Associations Forum is 'bringing associations together to boost performance'. We are the leading organisation assisting associations and charities in governance, operations, membership and finances.
Established in 2004, Associations Forum is a commercial, member-based network of 500 associations, charities, clubs, societies and other not-for-profit organisations. Since our foundation, we have provided assistance to hundreds of associations and charities in Australia, New Zealand, Singapore, Malaysia, India, South Africa and other nations.
Global Federation of Insurance Associations (GFIA)
The Global Federation of Insurance Associations (GFIA) is a non-profit association established to represent national and regional insurance associations that serve the general interests of life, health, general insurance and reinsurance companies and to make representations to national governments, international regulators and others on their behalf.
The federation was established at a meeting of insurance associations in Washington on 9 October 2012, to increase industry effectiveness in providing input to international regulatory bodies and to contribute more effectively to the international dialogue on issues of common interest.
United Nations (UNEP FI) Principles for Sustainable Insurance
A global framework putting social, environmental and economic issues at the heart of risk management. The Principles are led by the United Nations and are
- We will embed in our decision-making environmental, social and governance issues relevant to our insurance business.
- We will work together with our clients and business partners to raise awareness of environmental, social and governance issues, manage risk and develop solutions.
- We will work together with governments, regulators and other key stakeholders to promote widespread action across society on environmental, social and governance issues.
- We will demonstrate accountability and transparency in regularly disclosing our progress in implementing the Principles.
Why does the Financial Services Council support the Principles for Sustainable Insurance?
The Financial Services Council represents life insurance companies in New Zealand. Insurance is a promise to pay at a future date, and we believe that the Principles provide a framework for the long term future of the insurance industry. Each of our current initiatives is for the benefit of consumers, community, our economy and the insurance industry
How will the Financial Services Council Embrace the Principles for Sustainable Insurance?
The Financial Services Council became a Supporting Institution to the Principles for Sustainable Insurance in December 2012. Our goal is to embed the Principles across the industry and work is now underway to produce a long-term strategy to achieve this goal. In addition, to show that we are “walking the talk”, we are currently reviewing our business practices with the aim of reducing our own environmental impacts.
Royal Australasian College of Physicians (RACP)
New Zealand Health Benefits of Good Work (HBGW) Signatories' Steering Group (SSG)
The SSG is the industry arm of the HBGW Campaign. It consists of passionate people representing signatory organisations and sectors who explore opportunities to collaborate with government and industry leaders to influence public policy and workplace practices. It strives to maximise people’s access to the health and business
benefits of good work and to advocate for the health benefits of good work.
Since mid-2016 the SSG has engaged with key
stakeholders, researchers, unions and employer groups to grow the signatory base and collectively address the next few years of employment and challenges ahead. The SSG presents opportunities for informed dialogue whilst enjoying the benefits that flow from collaboration.
Employers are investing in workplace initiatives to promote health and wellbeing but often remain uncertain about the business case supporting such investment. The SSG endeavours to provide the business case, underpinned by research and continuous improvement.
The Health Benefits of Good Work Consensus Statement
The purpose of the Health Benefits of Good Work Consensus Statement is to bring together a wide range of stakeholder signatories (of which the FSC is one), who each affirm the importance of work as a determinant of health and commit to:
- promoting awareness of the health benefits of good work
- offering support and encouragement to those attempting to access the health benefits of good work
- encouraging employers' continuing support of workers' occupational health
- advocating for continuous improvement in public policy around work and health, in line with the principles articulated in the consensus statement.
The Health Benefits of Good Work Charter of Principles
The FSC is a Signatory to the Health Benefits of Good Work Charter of Principles (2018), which draws out the key principles from the HBGW philosophy. This demonstrates the FSC's commitment to the principles outlined in the Health Benefits of Good Work Consensus Statement and companion position statements and the importance good work can play in contributing to people’s health and wellbeing.