CPS230 Operational Risk
APRA the Prudential Regulator in Australia, has released a draft standard CPS230 Operational Risk. This standard is designed to strengthen the management of operational risk in financial services. Our approach is focussed on supporting organisations deliver to the requirements of this standard in a commercial and value-add way. To understand our approach we outline below how we leverage a maturity based model to foster better insight, challenge norms, and focus on collaborative problem-solving.
Ensuring all employees have an understanding of the requirements of CPS230 Operational Risk is fundamental to embedding the practices in your business. Meta Risk Education Academy provides online elearning courses about the Prudential Standard (CPS230). The courses are designed to provide an overview to all levels of expertise, introducing the new standard and the key changes.
Embedding operational risk to deliver great customer and business outcomes
The actions of leaders across the business are critical for successful operational risk and business outcomes. We focus on helping organisations assess, define and embed operational risk through engagement of the Board and senior management through our risk maturity model.
Our approach considers 6 key elements to develop operational risk in an organisation. The elements are key principles, risk framework, role of the board, operational risk, business continuity and service providers - which all align to the APRA standard.
CPS230 Maturity Asssessment
We help you enhance business outcomes and returns through the assessment, design and implementation of a CPS230 implementation approach.