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Status: Open to submissions
21 October 2022

Operational risk management

This page sets out details of APRA’s proposals in relation to Operational Risk Management for all APRA-regulated entities, it includes a discussion paper and proposed new prudential standard.

July 2022

 

On 28 July, APRA released for consultation a new prudential standard designed to strengthen the management of operational risk in the banking, insurance and superannuation industries. 

APRA proposes to introduce a new cross-industry Prudential Standard CPS 230 Operational Risk Management (CPS 230) which will set out minimum standards for managing operational risk, including updated requirements for business continuity and service provider management.

Written submissions are requested by 21 October 2022.

The discussion paper and draft CPS 230 are available below:

Media release: APRA consults on new prudential standard to strengthen operational resilience.

Discussion paper:

Discussion paper - Strengthening operational risk management 

Prudential standard

Published 28 July 2022

Note on submissions

It is APRA's policy to publish all submissions on the APRA website unless the respondent specifically tells APRA in writing that all or part of the submission is to remain confidential. An automatically generated confidentiality statement in an email does not satisfy this purpose. If you would like only part of your submission to be confidential, you should provide this information marked as 'confidential' in a separate attachment.