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CPS 230 Automation Package

As leaders in GRC,  ReadiNow assists many Australian financial organisations bridge the gap between their current processes and CPS 230 compliance.

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Let us guide you through CPS 230 Compliance

The APRA's cross-industry Prudential Standard CPS 230 Operational Risk Management, has been designed to strengthen the management of operational risk by all APRA-regulated entities. As experienced providers in GRC solutions, ReadiNow engages with many of the Australian financial institutions to tailored solutions that help transition seamlessly from their current operational frameworks to achieve full compliance with the CPS 230 standards, ensuring they meet regulatory requirements and best practices in the industry. ReadiNow can help by:

  • Conducting a CPS 230 gap analysis,
  • Assist in preparing an action plan for compliance, and
  • Assist in implementing technology to comply with CPS 230.
 
 
 
 
 

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Get ahead with ReadiNow's CPS 230 assistance

ReadiNow is leading the industry in preparing our clients for the upcoming APRA CPS 230 Prudential Standards. Get a headstart with your CPS 230 compliance with ReadiNow's webinars, industry roundtable sessions,  thought-leadership content, and tailored solutions for CPS 230.
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See the CPS 230 Solution in Action!

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Having a fully integrated CPS 230 business management solution in place enables you to effortlessly and consistently optimise your CPS 230 requirements. This approach minimizes complexity, reduces risks significantly, and maximizes ROI. As a result, you consistently adhere to CPS 230 requirements while showcasing the advantages it brings.

Operational Resilience Modules:

  • Harness the power of automation to effortlessly manage all your
    CPS 230 requirements
  • Auto-generate APRA notification reports
  • Executive-Level Insights with real-time Executive CPS 230
    dashboards for Management and Board reporting
  • Leverage no-code automation for effortless control of Risk,
    Business Continuity, Incident and Vendor Management
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CPS 230 Module Features

Key Objective: Improve the operational risk procedures, controls, and structure to align with the outcome-driven mandates of CPS 230. This is in accordance with the renewed emphasis on 
maintaining the ability to operate amidst disruptions, rather than merely recovering from 
them

CPS230 APRA-1200

Risk Management Module:
✓ Set Business objectives
✓ Define Risk taxonomy
✓ Centralise Risk & Control Library
✓ Assess Risk & Controls consistently
✓ Manage Treatment plans
✓ Measure Key risk indicators
✓ Linkages to incidents and near misses.

Key Objective: Strengthen business continuity strategies by pinpointing critical operations using the CPS 230 perspective (which encompasses functions deemed critical by APRA). Establish suitable tolerance thresholds for each function and increase testing responsibilities.

CPS230 BCM-1200

Business Continuity Module:
✓ Centralise list of critical operations
✓ Undertake Business impact analysis & set Tolerance levels
✓ Identify Processes and dependencies
✓ Manage Business continuity plans
✓ Plan Disruption scenarios
✓ Automate Rehearsals.

Key Objective: Conduct a comprehensive evaluation to determine which service providers are essential, specifically those necessary for a crucial operation or those that subject the entity to significant operational risk and implement appropriate performance measurements process. This perspective is broader than the existing notion of service providers handling an outsourced 'material business activity. 

CPS230 Vendor-1200


Vendor Management Module:
✓ Centralise Vendor registers, including Material service providers
✓ Manage Master service agreements
✓ Maintain Contract registers
✓ Undertake Vendor risk assessment
✓ Monitor Vendor KPI’s
✓ Manage Contracts.

Key Objective: Notify APRA of key events and service providers and that may affect operational resilience, and for APRA to develop a wide view of key concentration risks across the industry

CPS230 Exec-1200

APRA Notification Module:
✓ Autogenerate APRA notification reports
✓ Automatic reminders of upcoming and overdue notifications
✓ Historical record of all notifications sent.

CPS230 APRA-1200

Risk Management Module:
✓ Set Business objectives
✓ Define Risk taxonomy
✓ Centralise Risk & Control Library
✓ Assess Risk & Controls consistently
✓ Manage Treatment plans
✓ Measure Key risk indicators
✓ Linkages to incidents and near misses.

CPS230 BCM-1200

Business Continuity Module:
✓ Centralise list of critical operations
✓ Undertake Business impact analysis & set Tolerance levels
✓ Identify Processes and dependencies
✓ Manage Business continuity plans
✓ Plan Disruption scenarios
✓ Automate Rehearsals.

CPS230 Vendor-1200


Vendor Management Module:
✓ Centralise Vendor registers, including Material service providers
✓ Manage Master service agreements
✓ Maintain Contract registers
✓ Undertake Vendor risk assessment
✓ Monitor Vendor KPI’s
✓ Manage Contracts.

CPS230 Exec-1200

APRA Notification Module:
✓ Autogenerate APRA notification reports
✓ Automatic reminders of upcoming and overdue notifications
✓ Historical record of all notifications sent.

ReadiNow's Platform Features

Beautiful, professional & enterprise-grade applications are ready without the need for programmers or coding. The ReadiNow Platform is a no-code platform, meaning you have the flexibility and power to grow your platform with your business without needing a developer. Simply drag and drop to create forms, reports, dashboards, workflows and integrations with your existing systems. The below features are included in all ReadiNow modules.

Workflows & Rules
Workflows & Rules

Automate any business process with the visual workflow builder to bring your applications to life.

Powerful Analytics

Powerful Analytics

Turn the wealth of data in your business to actionable information with custom reporting and built in data analytics.

Document Generation

Document Generation

Auto generate invoices, status reports, plans, time sheets or any type of document with real time data

All Devices

All Devices

Instantly deploy your applications to any mobile device so you always have access to your information on the go.

Email & SMS alerts

Email & SMS alerts

Configure automated email and SMS alerts to proactively notify users to perform actions or provide updates.

Integrations

Integrations

Use the configurable integration engine to connect to your existing systems to eliminate human error.

Configurable Forms
Configurable Forms

Create rich screens and forms to interact with your application. Simply imagine it, drag it and drop it.

Robust Security

Robust Security

Flexible role based security engine providing access to only what you need and ensuring security of your data.

Explore Our Platform

Trusted by

Dexus
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NBN
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Proactively manage and mitigate risk exposure

DOWNLOAD: GRC 20/20 SOLUTION PERSPECTIVE

“ReadiNow gives us the ability to link risks, obligations, incidents, issues, all of these things together so we can get a single level of insight and really be able to understand when an incident happened and how it impacts a risk. When a risk rating changes - how does that impact everything else? Bringing it all together in one platform - that's where the magic lies!

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Bert Bakker, Chief Risk Officer, Youi Insurance & OUTSurance

Awards & Recognitions

risk awards
 
2023 Governance, Risk and Compliance Product of the Year
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2021 BCI APAC Continuity and Resilience Innovation Winner
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2020 BCI Global Innovation Winner
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2020 BCI Global Hall of Fame
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2020 BCI APAC Continuity and Resilience Innovation Winner
Value 2019 GRC award
 
2019 GRC 20/20 Value Awards
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ISO27001 Accreditation
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Chartis 2021 RiskTech Quadrant®

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