APRA CPS230: Operational Risk Management 2025 Industry Survey
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.
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.
PFS Consulting supports enhancing governance standards but believe additional clarity is needed on some specific elements of the proposals, and how they will be implemented and enforced. We also think it’s worth considering when to provide more prescription in certain areas. We’ve also raised several important additional matters which were not explicitly addressed in the proposal.
APRA has proposed measures to strengthen governance in financial institutions. Read the summary of the problem statements along with proposals
The Privacy and Other Legislation Amendment Act 2024 (the Amendment Act) was passed on 29 November 2024 and received Royal Assent on 10 December 2024,
In July 2023 APRA published its new Operational Risk Management Prudential Standard, CPS230, which comes into force on 1 July 2025. To date, there is no accompanying explanatory CPG230.
The Financial Accountability Regime has become law. Don’t miss Madeleine’s guide, designed to explain the regime’s implications, and ensure seamless compliance for financial institutions.
APRA’s recently released Guide for Directors is a must read for financial institution Directors, CEOs & Executives.
Many recent reviews into the financial services industry have identified widespread and systemic misconduct. Whilst some misconduct has been unlawful, much has been simply behaviour that has not met community standards and expectations.