Regulatory AlertsCPS 220 Risk Management
The Australian Prudential Regulation Authority issued Prudential Standard CPS 220 to require all APRA-regulated institutions and group heads to maintain a comprehensive risk management framework. This framework must be approved by the Board, aligned with strategic objectives, and include specific components such as a risk appetite statement, risk management strategy, and business plan. The standard mandates robust systems for identifying, measuring, and mitigating material risks to ensure entities can meet their obligations to depositors and policyholders.
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