ICYMI: The Australian Prudential Regulation Authority (APRA) has announced the final Prudential Standard CPS 230 Operational Risk Management, which is slated to become effective on July 1, 2025. CPS 230 was developed following an industry consultation that commenced in July 2022 with the primary goal of improving the management of operational risks in the financial sector.
Although the Australian financial services market has remained relatively isolated from the recent financial crises, it has faced a number of high-profile cyber incidents. CPS 230 aims to enhance the resilience of regulated financial entities, enabling them to withstand disruptions, whether they are related to cyber threats or other operational risks. To enhance operational risk management, CPS 230 extends previous regulations to cover 4th party providers (vendors' vendors).
This content is available to paid Members of Starling Insights.
If you are a Member of Starling Insights, you can sign in below to access this item.
If you are not a member, please consider joining Starling Insights to support our work and get access to our entire platform. Enjoy hundreds of articles and related content from past editions of the Compendium, special video and print reports, as well as Starling's observations and comments on current issues in culture & conduct risk management.
Join The Discussion