banking and financial services

According to an industry expert, resilience has become a board-level concern for Australia’s financial services industry ahead of new CPS 230 Operational Risk Management regulations from the Australian Prudential Regulatory Authority, the industry’s regulatory body. Australian banks, insurers, and superannuation funds will be required to meet the APRA’s new consolidated CPS 230 standard for operational risk management. Those classified as “significant” financial institutions have until July 2025 to comply, while non-significant financial institutions have been…