CPS 230 Digital Compliance and Observability: An Interactive Mapping Approach

Operational resilience is critical for financial services organisations facing increasing threats of disruption. Cyber incidents, technology failures, climate events and pandemics are all examples of recent events that threaten to disrupt the operations of important financial services. The Australian Prudential Regulation Authority (APRA) has developed a new regulatory standard, Prudential Standard CPS 230 Operational Risk Management (CPS 230), with the aim of ensuring that APRA-regulated entities are resilient to operational risks and disruptions.

Digital compliance involves using technological solutions to enhance organisations’ regulatory compliance. It requires stakeholders from different professional fields, including legal, risk and assurance, compliance and security teams, to work together effectively. A key challenge in this inherently interdisciplinary space is improving communication between stakeholders from diverse professional backgrounds. This report proposes a novel interactive mapping approach to promote interdisciplinary dialogue about new strategies to promote digital compliance with CPS 230.