Authorised deposit-taking institutions are well past the “tick the CPS box” phase for CPS 230-style themes: service provider management, business continuity, and incident response are now board-visible metrics. Examiners and internal audit alike are asking for traceability from material service arrangements to actual testing outcomes.
Foreign-backed ADIs in particular face the complexity of global parent standards mapped onto Australian prudential language. The task is not double compliance; it is a coherent narrative that satisfies APRA without fighting your home regulator’s framework.
Whether you are preparing for a deep dive or a routine CPS 220/230 cycle, the firms that fare best treat third-party risk as an operating rhythm—owners, dashboards, and escalation paths—rather than an annual policy refresh.