APRA has published its finalised prudential practice guide to enhance the operational resilience of banks, insurers, and superannuation trustees. 

The new Prudential Practice Guide CPG 230 Operational Risk Management (CPG 230) is designed to assist in the implementation of Prudential Standard CPS 230 Operational Risk Management (CPS 230), which was finalised in July last year and takes effect from 1 July 2025.

Key changes include:

  • the guidance has been shortened and is more tightly focused on how to meet expectations set by the standard; 

  • entities that are classified as non-Significant Financial Institutions have an additional 12 months to comply with certain requirements in CPS 230 relating to business continuity and scenario analysis;

  • APRA has included a “day one” checklist for entities to assist in their implementation of CPS 230; and

  • APRA has provided a three-year forward plan of its intended approach to supervising CPS 230 to assist industry with implementation and planning.

The response paper is available on the APRA website at: Response to submissions - CPG 230 Operational Risk Management.