EvidenceSheet
APRA CPS 230 · Key principles and operational risk management framework (paras 11 to 18)

CPS 230 para 15 Operational risk elements of the risk management framework

Within the risk management framework that CPS 220 or SPS 220 already requires, the entity must build and keep up: (a) governance for overseeing operational risk; (b) a view of the operational risk profile, with a stated appetite backed by indicators, limits and tolerances; (c) internal controls that are effective both in design and in operation; (d) operational risk monitoring, analysis and reporting plus escalation routes for incidents and events; (e) one or more BCPs describing how it will detect, handle and respond to a disruption while staying within tolerance, tested regularly against severe yet plausible scenarios; and (f) processes for managing service provider arrangements.

Source: APRA CPS 230, CPS 230 para 15. The statement above is our statement of the clause, read from the published text and cited so you can check it against the official text, not the instrument verbatim. Open APRA CPS 230 in the compliance library.

Applies to APRA-regulated entities.

4
artefacts
0
held by a system
0
at each review
hard
to go live
Document repository
where the evidence lives
teal = a system already holds it · olive = produced at each review. To go live: easy when half or more of the artefacts are already held by a system, moderate from a quarter to a half, hard below a quarter.

These are the artefacts auditors commonly ask for on this requirement, our guidance rather than text from the standard. Your assessor decides what is sufficient in your context, and asks for samples across the period when a report covers one.

system holds itEvidence a system already holds

none for this control

periodic reviewEvidence produced at each review

none for this control

governing documentDocuments that govern the control

  • Risk management framework document with an operational risk section covering each of the six elements (a) to (f) · Document repository
  • Operational risk appetite statement with key risk indicators, limits and tolerance thresholds · Document repository
  • Escalation procedure for operational incidents and events, with escalation logs · Policy repository / GRC workspace
  • Index linking the framework to the BCP set and the service provider management policy · Policy repository / GRC workspace

First move

No system holds this evidence for you: it is people and documents. Reminders and routing to the owner still save time. Put the document under version control with an owner and review date, and log each review as a record with reviewer and date.

Common gaps auditors find

Do this for your whole sheet

Paste the rows you run your controls from and get this mapping for every control at once, with the periodic-review ones flagged and a first move per row. No account for the first run.

Build my evidence sheet

CPS 230 para 14 Rely on a service provider only where prudential obligations stay fully met · CPS 230 para 16 Review operational risk management within the CPS 220 / SPS 220 framework reviews