Governance, Risk & Compliance: GRC
APRA CPS 230: How to Drive Operational Resilience and Cyber Preparedness
CPS 230 is a new prudential standard released by the Australian Prudential Regulation Authority (APRA) that aims to enhance operational resilience in the financial services sector. The standard covers a wide range of operational risks, including internal and external fraud, cybersecurity, business disruptions, and regulatory noncompliance.
Organizations that are subject to CPS 230 will need to demonstrate accountability, have a robust risk management process, ensure effective controls, have a clear understanding of their incident management capabilities, and have a comprehensive business continuity plan in place. They will also need to effectively manage their service providers and have a clear and effective technology strategy.
In this whitepaper, we share important insight about CPS 230 including the following:
- Key drivers behind APRA CPS 230
- Preparation challenges facing organizations
- Important role technology can play
