Outsourcing & Third-Party Risk

What governance records and evidence should an entity retain to demonstrate compliance with CPS 230?

APRA expects entities subject to Prudential Standard CPS 230 to retain governance records demonstrating that operational risks are identified, monitored...

How does outsourcing affect an entity’s obligations under CPS 230?

APRA Prudential Standard CPS 230 does not allow an APRA-regulated entity to transfer its operational risk obligations through outsourcing. The...

Which APRA-regulated entities must comply with CPS 230?

APRA Prudential Standard CPS 230 applies to APRA-regulated entities, including authorised deposit-taking institutions (ADIs), general insurers, life insurers, private health...

What is APRA Prudential Standard CPS 230 Operational Risk Management?

APRA Prudential Standard CPS 230 establishes operational risk management requirements for APRA-regulated entities. It applies to authorised deposit-taking institutions, insurers...

Can a licensee outsource representative supervision or file review activities?

Yes. ASIC permits Australian Financial Services Licensees and Australian Credit Licensees to outsource representative supervision or file review activities. However,...

What outsourcing arrangements require compliance oversight under an AFSL?

ASIC expects AFS licensees to maintain compliance oversight of all outsourced functions that affect the provision of financial services, compliance...

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