RESPONSIBLE INVESTMENT CERTIFICATION PROGRAM
Recertification Pack Last updated: November 2020
Why is recertification required? 2 How do I know I need to be recertified? How much does recertification cost? Certification program background
Helpful information and contacts 2 RI Certification Toolkit How much does recertification cost? Certification Program background
What do I need to do? 4 How to review your existing product information Working with colleagues on recertification How to update your product information Saving draft versions Updating more than one product or product labels have changed What do to when you have updated all your information
What criteria has changed since last being certified? 6
Will a new audit be required? 6
What happens if we don’t recertify? 6
Why is recertification required? The standard term for certification is 2 years (or 24 months). Recertification is important in publicly demonstrating an ongoing commitment to key responsible investment criteria. Recertification also accounts for changes in responsible investment practice across the industry, clearly demonstrating a continuous improvement approach. Note that current RIAA membership is a pre-requisite of recertification. If you have a query about your membership or need to renew you can get in touch with RIAA at [email protected] Further information on certification eligibility and ongoing requirements can be found at: www.responsibleinvestment.org/RIAA-Certification-Program-Overview
How do I know I need to be recertified? You will receive an email from the RIAA Certification Team 3 months (90 days) prior to the end of your current certification period. This email will provide you with your deadline to submit new information for recertification.
All recertifications are assessed by the RIAA Certification Assessment Panel (CAP). More details about CAP members can be found at www.responsibleinvestment.org/ri- certification/certification-assessment-panel
If there are extenuating circumstances that might preclude you from meeting this deadline you can contact the RIAA Certification Team on [email protected] to discuss options. We endeavour to be flexible where possible. Helpful information and contacts RI Certification Toolkit We have developed several resources, available through the Member Resources portal on the RIAA website. You can log in using your Glue Up (previously EventBank) sign in to access the Member Resources: www.responsibleinvestment.org/member-login/
The RI Certification Toolkit has a range of information including: • Full Certification Standard • Full Standards and Assessment Guide • Licensee Marketing Kit and Style Guide • Recordings of previous masterclass sessions
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The RIAA Certification Team is always available to assist with your recertification process. The team can be contacted at [email protected].
The team is also available to meet one-on-one by phone, e-meeting or in person should this be preferred.
How much does recertification cost?
The fees associated with recertification are the same as certification. 1. Annual fee of $800 + GST per certified product 2. Annual levy of 25% + GST of the licensee’s RIAA membership 3. Where applicable an Independent Verification fee of AU$3,100 plus GST and reasonable expenses for the service (refer to Will another audit be required? for more details)
See full certification pricing details: www.responsibleinvestment.org/wp- content/uploads/2020/11/RI-Certification-Fees.pdf
Certification Program background The Responsible Investment Association Australasia’s (RIAA) Responsible Investment Certification Program is the leading initiative for distinguishing quality responsible, ethical and impact investment products and services in Australia and New Zealand. RIAA’s Certification Symbol is recognised by investors and consumers across the region, providing confidence that a product or provider is delivering on its responsible investment promise and meeting the Australian and New Zealand Standard for responsible investing. RIAA’s Certification Program is the longest running responsible investment program in the world, and its Certification Symbol, a Registered Trademark owned and managed by RIAA, is the most trusted mark for responsible investment products and service providers.
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What do I need to do? To commence your product(s) recertification process simply login to the Responsible Returns member portal using your email address and password, you can request a password reset if required. Log in to the portal here: www.responsiblereturns.com.au/members/login
Once logged in you can review your current product and member information to help determine what might have changed since your previous certification.
Working with colleagues on recertification
You can also work with colleagues on recertification, the Responsible Returns member portal terminology used is collaborators.
In the Member Section of your organisation profile you can select Actions > List Collaborators. You will then be able to view current collaborators. Note a primary collaborator has access to add and remove collaborators (colleagues) to assist with recertification.
How to review your existing product information A simple way to review a summary of all existing information is to select Actions > Show (Print Screen)
If preferred, you can also review information by section selecting Actions > Submit New Version
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How to update your product information
To commence updating your information select Actions > Submit New Version
You can then update your information section by section, proceeding through each stage by selecting ‘Next’ (1) or by selecting the section heading (2).
Once you have entered your updated information proceed through all sections until you see ‘Submit new version’ and select to save all updates.
Saving draft versions
You can update information in stages and save draft version by following the steps outlined above and selecting the same ‘Submit new version’ button.
You can then return at a later date and select Actions > Edit New Version. Repeat these steps to update multiple draft versions.
Updating more than one product or product labels have changed?
If you have more than a single product being recertified and need to update standard information across all these products the following approach is recommended:
- Update a single product’s information (e.g. balanced fund) via Actions > Submit New Version - Once all information has been input across all stage A to H select ‘Submit New Version’
- Once submitted contact the RIAA Certification Team to have this product information cloned across your other products. Requests can be sent to [email protected] (please allow 5-7 business days for this process to be completed)
If product labels have changed follow the steps outlined above to update information in your existing product(s). Once complete contact the RIAA Certification Team [email protected].
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Advise the team of the new product label(s) and the team will arrange for information to be cloned. (please allow 5-7 business days for this process to be completed)
What to do when you have updated all your information? Once all new product information has been input please email the RIAA Certification Team on: [email protected]
If you have more than one product being recertified please email this address when product information has been completed, across all products.
What criteria has changed since last being certified?
As the criteria for responsible investments evolve, the Responsible Investment Association Australasia’s (RIAA) Responsible Investment Certification Program in turn revises guidance in response to industry and market developments. To assist with determining what certification criteria might have changed since you were last certified you can refer to www.responsibleinvestment.org/wp- content/uploads/2020/09/Recertifying-against-the-revised-standard-and-Ongoing-disclosure- requirements.pdf Will a new audit be required? If your product(s) have not materially changed since the original certification a new independent audit will not be required.
The criteria for what triggers an independent audit are:
1. when a Product provider or Superfund Whole of Fund applicant initially seeks entry into the Program (the original certification) 2. when there is a material change to a certified Product or Financial Advisory Group’s responsible investment strategy or process 3. when RIAA undertakes its spot audit of between 5% – 10% of the eligible Certified Members. RIAA may seek the assistance of Panel members in the execution of this Program administration commitment (spot audit fee is paid by RIAA). What happens if we don’t recertify? If you choose not to recertify your product(s) will no longer be licenced to use the Certification Symbol Registered Trademark across all mediums. This will take effect from the expiry date of your current certification period. Your product will also be removed from the Responsible Returns website.
Note you can still maintain a current RIAA membership.
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