The Australian Prudential Regulation Authority (APRA) has finalised targeted amendments to prudential standard CPS 230 Operational Risk Management, prudential practice guide CPG 230, and the corresponding Material Service Provider Register template. The amendments introduce limited exemptions … [Read more...] about APRA finalises targeted amendments to CPS 230 Operational Risk Management
UAC April Newsletter - CPS 230 for existing material service providers - 1st July 2026 … [Read more...] about CPS 230 for existing material service providers – 1st July 2026
The Australian Prudential Regulation Authority (APRA) will consult on targeted amendments to CPS 230 Operational Risk Management (CPS 230) by the end of 2025. This follows industry feedback highlighting challenges when applying the new standard’s contractual obligations to arrangements with … [Read more...] about APRA to consult on targeted changes to CPS 230 for non-traditional service providers
Compliance expert Paul Muir explains why the prudential regulator’s game-changing operational resilience standard leaves agencies walking a fine line between their own needs and those of insurers. The new prudential standard CPS 230 introduces strict requirements for insurers to strengthen … [Read more...] about Navigating CPS 230: the new reality for underwriting agencies
On 1 July 2025, financial services enter a new age with the commencement of CPS 230:Operational Risk Management. The requirements of this prudential standard reflect a paradigm shift in how operational risk and related issues are to be managed. The core requirement of resilience reflects the need to … [Read more...] about APRA CPS230: Operational Risk Management
Why do a survey? All 300+ APRA regulated financial institutions are working on the challenges of CPS230 Long gestation period Its not over on 1 July 2025 Insurers, banks, super funds all working hard and face similar challenges … [Read more...] about CPS230 Operational Risk Management Industry Survey 2025
To meet the notification requirements of Prudential Standard CPS 230 Operational Risk Management APRA has developed and released electronic forms that should be completed by entities when notifying APRA of the following: Operational Risk Incident (para 33) Breach of Critical Operation … [Read more...] about APRA releases CPS 230 notification forms
The Australian Prudential Regulation Authority (APRA) has published a speech delivered this afternoon by Executive Director of Cross-industry Risk Chris Gower to the AFIA Risk Summit on the Gold Coast. In “Preparing for the long haul: operational resilience in a shifting geopolitical … [Read more...] about APRA publishes Executive Director Chris Gower’s speech on operational resilience