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.

Maturity Model

Promote discussion

Generate discussion

Focus on value from risk

Problem-solving

Practical solutions

Read about APRA CPS230
Read more about our maturity model

CPS230 Training

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.

Meta Risk Education Academy

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.

Key Principles

Our approach is to support compliance, and implementing CPS230 if new to your organisation, through practical frameworks, systems and processes which embed the activity within the front-line business.

Risk Framework

We focus our maturity model on the overall framework elements, being the risk management framework and the relationship to the risk management strategy.

Role of the Board

The model supports clarity in the articulation of the role of the board and how those detailed elements support executing the boards overall accountability for operational risk, business continuity, and service providers.

Operational Risk

This area can be quite complex and challenging, with the key elements in the maturity model focused on embedding operational risk in everything your employees deliver for customers.

Business Continuity

Things may go wrong, and great organisations reduce this from occurring and have alternative processes. The maturity model helps your organisation assess the whole of your business in respect to tolerances and processes.

Service Providers

Ensuring third and fourth parties are assessed is a key component of the maturity model, with a focus on policies, processes and reporting to satisfy the key requirements.

CPS230 Maturity Asssessment

We help you enhance business outcomes and returns through the assessment, design and implementation of a CPS230 implementation approach.

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