On 1 July 2025, APRA-regulated financial institutions will enter a new chapter in risk governance with the commencement of CPS 230: Operational Risk Management. Marking a shift from compliance-based approaches to one focused on resilience, CPS 230 raises expectations for how critical operations must be maintained during disruption. In anticipation of this significant regulatory milestone, PFS Consulting conducted a comprehensive industry survey to assess institutional readiness, governance maturity, and operational complexity across APRA-regulated insurers and superannuation funds. The insights from this inaugural survey will support financial institutions in strengthening resilience, meeting regulatory expectations, and ultimately safeguarding policyholders, members, and depositors. This work forms the foundation of an annual research program designed to track industry progress and support long-term capability building across the sector.
Establishing a bank in Australia – The changes that prospective licence applicants need to know
If you aspire to start a bank in Australia, PFS Consulting can help. The
