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Guide to Understanding CPS 230: Operational Risk Management

Are you a financial institution looking to enhance operational resilience and maintain stakeholder trust? Our comprehensive whitepaper, "Understanding CPS 230: Key Considerations and Approaches to Implementation," is here to help.

19/11/2024 · 2 minute read

Are you a financial institution looking to enhance operational resilience and maintain stakeholder trust? Our comprehensive whitepaper, "Understanding CPS 230: Key Considerations and Approaches to Implementation," is here to help.

What is CPS 230?

CPS 230 refers to the Australian Prudential Regulation Authority's (APRA) prudential standard on Operational Risk Management. It sets out the expectations for APRA-regulated entities, including banks, building societies, credit unions, insurance companies, and superannuation providers, to effectively manage operational risks and maintain sound financial practices.

The importance of compliance

Compliance with CPS 230 is crucial in today's ever-evolving regulatory landscape and applies to entities of varying sizes, complexity, and risk profiles. Non-compliance may result in reputational damage, regulatory penalties, and loss of stakeholder trust. By aligning with this prudential standard, organisations can enhance their operational resilience, maintain stakeholder trust, and demonstrate robust risk management practices. CPS 230 compliance also helps entities identify and mitigate operational risks, ensuring the continuity of critical operations and protecting the broader financial system and economy.

Unlocking CPS 230: Your comprehensive resource

Understanding CPS 230 is your one-stop resource for unlocking the domains and requirements of CPS 230, understanding its implications for financial institutions, and exploring approaches and considerations for successful implementation and achieving compliance. Get your copy now.

What you’ll learn

  • Gain in-depth insights: Understand the implications of CPS230 for financial institutions and discover key considerations for successful implementation.
  • Practical strategies: Get a roadmap for implementing CPS230 effectively within your organisation.
  • Enhance operational resilience: Discover the benefits of CPS230 compliance and how it can strengthen your organisation's resilience.
  • Expert guidance: Leverage Marsh’s expertise and tailored solutions to navigate the complexities of CPS230.

Is your organisation well-prepared to meet regulatory requirements? Download our whitepaper now and gain the knowledge and insights you need to take the first step towards operational resilience.

Our people

Adity Roy Chowdhury

Adity Roy Chowdhury

National Practice Leader, Enterprise Risk Management

  • Australia

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Zane  Beard

Head of Strategy, Growth & Specialty - Marsh Advisory Pacific

  • Australia

This document and any recommendations, analysis, or advice provided by Marsh (collectively, the “Marsh Analysis”) are not intended to be taken as advice regarding any individual situation and should not be relied upon as such. The information contained herein is based on sources we believe reliable, but we make no representation or warranty as to its accuracy. Marsh shall have no obligation to update the Marsh Analysis and shall have no liability to you or any other party arising out of this publication or any matter contained herein. Any statements concerning actuarial, tax, accounting, regulatory, or legal matters are based solely on our experience as insurance brokers and risk consultants and are not to be relied upon as actuarial, tax, accounting, regulatory, or legal advice, for which you should consult your own professional advisors. Any modelling, analytics, or projections are subject to inherent uncertainty, and the Marsh Analysis could be materially affected if any underlying assumptions, conditions, information, or factors are inaccurate or incomplete or should change. Marsh makes no representation or warranty concerning the application of policy wording or the financial condition or solvency of insurers or reinsurers. Marsh makes no assurances regarding the availability, cost, or terms of insurance coverage. LCPA 24/522