Regulatory AlertsCPG 230 Operational Risk Management
The Australian Prudential Regulation Authority issued this prudential practice guide to assist regulated entities with implementing and complying with Prudential Standard CPS 230 on Operational Risk Management. The document outlines requirements for entities to identify critical operations, maintain operational resilience through severe disruptions, and effectively manage risks associated with service providers. It details specific governance responsibilities for Boards and senior management, including the establishment of risk profiles, internal controls, business continuity plans, and mandatory notification timelines for incidents and disruptions.
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