The date is set for the implementation of CPS 230. While there is now a clear deadline for the implementation, the question is not about the when but rather if everything can be put in place by that date. Many organisations will have already been practising several of the components that CPS 230 requires but generally not with the same interaction that is not mandated by CPS 230. And there are number of new aspects that will require focus. Operational Risk Management practic

APRA’s upcoming Prudential Standard CPS 230 Operational Risk Management will require APRA regulated entities to enhance processes and and reporting in the following areas: Enhancing Operational Risk Management by: Ensuring assessment processes adequately reflect how the introduction of new components such as products/services or technologies change operational risk profiles Focusing on maintaining effective control environments to adequately manage the respective business Gr