TMLabs CPS230 Accelerator

What is CPS230?

The aim of this Prudential Standard is to ensure that an APRA-regulated entity:

  • Performs operational risk management to address the Control gaps using CPS230 requirements.
  • Performs Business Continuity Planning so that it can respond to severe disruptions.
  • Performs Third Party Risk management so that the risks from material service providers are addressed.
  • Provides the executive board accountability and oversight via reporting.

The TMLabs CPS230 Accelerator is an implementation Service Offering specifically designed to achieve CPS230 compliance. Based on TMLabs IRM Experts’ exhaustive analysis of CPS230 sections and paragraphs and the expected functional and technical components to achieve the CPS230 compliance for those in ServiceNow, the Service Offering includes:

  1. Installation and Configuration of ServiceNow IRM Suite of applications required to meet CPS230 compliance.
  2. Consultancy and Implementation Services based on TMLabs Prebuilt the CPS230 paragraph and sectional mapping vs ServiceNow technical components required.
  3. Installation and Configuration of TMLabs’ LexisNexis Integration Store Application where the customer’s Regulatory Content provider is LexisNexis.

TMLabs Methodology

Phase 1 – Gap Analysis & Roadmap

  • In this phase TMLabs Risk Consultants will work with you to validate whether your existing processes and controls meet the requirements set out in CPS 230. Governance and framework required for implementation will be outlined.
  • Based on TMLabs’ CPS230 ServiceNow Application Component Mapping. An implementation roadmap which aligns with the CPS230 proposed timelines will be drafted.

Phase 2 – Implementation

  • In this phase, ServiceNow Application components supporting the CPS230 requirements will be deployed inline with the CPS230 timelines.
  • Where the customer has existing implementations of one or more of the below components within non-ServiceNow Platform(s) the implementation roadmap would cover the integration of ServiceNow components with the corresponding non-ServiceNow platforms.
    • ServiceNow IRM
    • ServiceNow Compliance Case Management
    • ServiceNow BCM
    • ServiceNow TPRM

Phase 3 – Reporting

  • Implementation of CPS230 reporting requirements set out by APRA - Scheduled and trigger-based APRA Reporting.
  • Implementation of board and executive reporting.

To Find Out More, Click Here to Contact Us

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