With the release of Apra’s Practice Guide CPG230 – Operational Risk Management, the CPS230 regulatory framework has now been finalised making it an opportune time to take stock on where you are up to in your CPS230 journey.
In this article on the implementation of APRA’s new operational risk standard, Daniel Frank, Madeleine Mattera, Jane Byrne, and Jules Gribble map out a pathway for successful implementation. We note that:
APRA is finally addressing one of the biggest lessons learned from the GFC: the failure of firms to plan for the worst while still expecting public support to ride out a crisis.
In this article, we aim to improve your understanding of APRA’s proposed CPS 230 Operational Risk Management and the journey of risk maturity that Boards and Management will need to take to enhance operational resilience and value.
