Simplify and Automate APRA Prudential Standard CPS 230 TPRM Requirements with SecurityScorecard

Simplify Third-Party Risk Management and satisfy Australian regulatory standards with continuous, data-driven oversight.

With the enforcement of APRA Prudential Standard CPS 230, the bar for operational risk management in Australia has been significantly raised. Financial entities are now required to demonstrate deeper visibility into their supply chains, including the hidden risks of fourth-party subcontractors.

This technical whitepaper, "Simplify and Automate APRA Prudential Standard CPS 230 TPRM Requirements," provides the blueprints for modernizing your compliance framework. Learn how to eliminate the burden of manual tracking and replace it with an automated, scalable system that satisfies regulators and protects your operational integrity.

Key Highlights:

Operational Risk Mastery: A structured approach to identifying and managing risks associated with all critical third-party suppliers.

Automated Asset Classification: Methods to classify suppliers based on their direct impact on business operations and sensitive data.

Fourth-Party Visibility: Advanced mapping to identify aggregated risks from subcontractors and "N-th party" dependencies.

Continuous Oversight: Shifting from annual "snapshots" to 24/7 monitoring of vendor security postures.

Contractual Compliance: Tools to monitor and enforce the specific TPRM requirements mandated by CPS 230 within supplier contracts.

Incident Management Integration: Establishing rapid reporting procedures and tracking vendor incident history for better response.

Board-Ready Reporting: Access to pre-built templates designed to translate technical cyber risk into executive-level summaries.

Data-Driven Audits: Using CSV and API exports to provide auditors with evidence-based status reports on all critical functions.

Streamlined Risk Assessments: Utilizing objective security ratings to document risk mitigation plans and evaluate supplier performance.