Operational Risk Assessment
Maintain compliance with APRA’s CPS 230 standard
Financial services organisations often find it challenging to maintain compliance with APRA’s CPS 230 standard due to the complexity and breadth of operational risk management requirements. The extensive requirements for managing operational risk can be difficult to integrate into existing processes and frameworks. Achieving and maintaining compliance requires a robust and proactive approach to operational risk management.
Cevo’s Operational Risk Assessment is designed to help APRA-regulated entities in Australia assess their compliance with the APRA prudential standard on operational risk management. Our assessment identifies gaps between your current operational risk management practices and CPS 230 requirements, providing you with a detailed report and prioritised recommendations to address these gaps and strengthen your operational risk management posture.
By proactively assessing your alignment with CPS 230, you can take the necessary steps to protect your organisation from operational disruptions, maintain customer trust, and demonstrate to APRA that you are a resilient financial institution.
Why customers use Cevo's Operational Risk Assessment
Comprehensive evaluation
A thorough review of your information security framework and controls.
Gap analysis
Identify discrepancies between your practices and CPS 230 requirements.
Actionable recommendations
Detailed guidance on how to address gaps and enhance your operational risk measures.
Expert consultation
Work with experienced consultants who have deep expertise in financial services and cybersecurity best practices.
Key areas of assessment
Operational risk management
Evaluate your existing operational risk management framework, including governance arrangements, risk appetite, internal controls, monitoring, and reporting.
Business continuity planning
Assess your business continuity plans and ability to maintain critical operations through severe disruptions within defined tolerance levels.
Service provider management
Review your cloud provider management policy and processes for managing material service provider arrangements.
Outcomes
Compliance status
Clear understanding of your compliance status against CPS 230, helping you avoid potential fines and regulatory sanctions.
Risk identification
Identification of material weaknesses in operational risk practices and areas for improvement.
Actionable roadmap
A detailed and actionable roadmap to achieve compliance before the July 2025 deadline.
Operational resilience
Enhanced operational resilience to manage risks and respond to disruptions effectively.
Move faster with confidence
