Comply with APRA CPS 220 (Risk Management)
APRA-regulated entities must have a comprehensive risk management framework.
Who must comply
APRA-regulated entities (ADIs, insurers, super trustees).
What triggers it
Being APRA-regulated.
When due
Continuous; annual board attestation.
Evidence required
RMF, board approval, risk appetite statement, risk register, BCM, attestation.
Max penalty
APRA enforcement actions including capital, licence conditions
Summary
CPS 220 requires APRA-regulated entities to maintain a Board-approved Risk Management Framework covering: risk appetite, risk culture, three lines of defence, risk register, business continuity, and material risks. Annual board attestation.
Enforced by
Industries
Topics
Source: https://apra.gov.au/risk-management. Rules Mate is not a law firm. Always verify against the live regulator source before acting.