FSI Operational Risk Assessment

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 FSI Operational Risk Assessment

• Comprehensive evaluation - A thorough review of your operational risk management 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 management measures.
• Expert consultation - Work with experienced consultants who have deep expertise in financial services, cybersecurity best practices, and AWS technologies.

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.

Deliverables

The outcomes of this assessment include:

• A clear understanding of your compliance status against CPS 230.
• Identification of material weaknesses in operational risk practices.
• A detailed and actionable roadmap to achieve compliance before the July 2025 deadline.
• Enhanced operational resilience to manage risks and respond to disruptions effectively.

Getting started

Once you place an order, one of our Client Directors will be in touch to confirm next steps.