Expression of Interest for Gateway Network Governing Body (GNGB)
Role of the GNGB
The GNGB would be an appropriately structured entity with a clear mission to:
- maintain the efficiency and integrity of the Superannuation Transaction Network(STN) gateway network in accordance with the intended role of gateways within the SuperStream Data and Payment Standard
- provide oversight of the network and its operators, consistent with the data standards and good governance practices
- provide rules of engagement with the network, including entry and exit of gateway operators,access principles, common operating practices and dispute resolution
- encourage continuous improvement and innovation in the gateway network.
The GNGB role might be exercised by a special purpose body created for this sole function; or alternatively, this might be a function exercised within an existing legal entity.
It is expected that the GNGB would include a committee or board that would provide direct oversight of the STN Gateway Operators, representational forums for engagement with relevant stakeholders and a small secretariat/operations group to support its oversight functions.
The GNGB would be a counter-party to one or more common agreements with each network operator.
Functions
Typical functions would include:
setting strategic direction and annual plans for network operation and governance
chairs and provides secretariat support to operational STN meetings of gateway operators
liaises with key stakeholder groups including operators, regulators and network user groups
undertakes agreed communications and public relations activities (on behalf of network as a whole)
sets certification standards for network operators (where required)
oversees entry and exit rules and processesfor operators in the network, including candidates and prospects
acts as an referral point for interpretation issues relating to the data standards
facilitates dispute resolution (either directly or through agreed dispute settlement arrangements)
provides BCP coordination role (high level contingencies only)
applies notices and sanctions related to network operators
undertakes income and expense management, budget setting and record keeping in accordance with charter and role
publishes performance reporting and other transparency related information
This is a broad outline only – not necessarily exclusive - and is subject to further detailed design and negotiation with the appointed GNGB.
Background
With the assistance of leading industry stakeholders, gateway operators collaborated during 2013 in theestablishment of a gateway network to facilitate the transfer of electronic data messages compliant with the SuperStream Data and Payment Standard (the Standard).
Following representations from industry, the Assistant Treasurer announced on 21 February 2014that the ATO would take on stewardship of the STNin order to provide clarity and certainty to gateway operators and other members of the superannuation industry regarding the governance of the network’s operations.
As part of the Government announcement, the ATO was also charged to work with industry to facilitate the development of a long term governance framework and to put in place the required arrangements to allow for a smooth transition to self-regulation by the second quarter of 2016.
Selection Process
A panel of industry representatives with relevant expertise will be established to assist the ATO in assessing applicants for the GNGB. A recommendation for a preferred candidate will be provided to the SuperStream Reference Group (SSRG) for consideration.Applicants are asked to electronically provide a submission addressing the following:
- The arrangements your organisation would provide to administer the gateway network governance framework. This should include:
- Structure of the governance body
- Decision making and consultation processes
- Costing model and budget estimate to support GNGB administration
- Resources for infrastructure and support processes (indicative budget range provided below)
- Submissions should also address the following criteria:
- Strategic capability and leadership
- Effective decision making and consultation processes
- Effective stakeholder representation and management – including the ability to appropriately balance the views of a broad range of stakeholders
- Demonstrated independence and ability to manage conflicts of interest across all stakeholders
- Effective risk management of the SuperStream Transaction Network
- Financial viability of the sponsoring entity and of the new body
Submissions of no more than 10 pages are to be lodged electronically by COB Friday 13 March 2015 to Mark Stockwell via email
If you would like to discuss your application further please contact Mark Stockwell on (07) 3149 5022.
Important information
- No government funding has been allocated.
- It is expected the preferred GNGB candidate will be notified by mid-2015 and this would be followed by detailed design and negotiations leading to a hand over agreement in late 2015
Additional information
Gateway Governance Framework
This is an ATO drafted version for the Gateway Governance Framework high level design that may assist.
Indicative budget based upon ATO resources to date
It is anticipated that it is likely to cost between $500,000 and $1,000,000 annually to run the GNGB. This would include costs for staff, accommodation, travel and information technology and also provisions for legal advice, dispute resolution and business continuity. Additional costs are likely during setup.
Gateway Operators Group Information
The information may assist with your understanding of the existing operating practices.
- Memorandum of Understanding
- Superannuation Data and Gateway Service Standards
- Other Operational Documents