Overview
The Prudential Standard CPS 230 enforces a structured approach to operational risk management for entities regulated by the Australian Prudential Regulation Authority (APRA). It mandates robust governance arrangements, comprehensive operational risk management frameworks, and appropriate risk controls. This standard aims to reduce the impact of operational disruptions on these entities and the broader financial system. CPS 230 incorporates expectations for incident response, business continuity, and operational resilience, alongside periodic risk assessments and reporting obligations.