APRA CPS 220 Risk Management
Risk Function

APRA CPS 220 Risk Management CPS220-10: Designated Risk Management Function

The institution must have a designated risk management function that assists the Board, board committees and senior management to maintain the framework, is proportionate to size, business mix and complexity, is operationally independent, has the authority and reporting lines to act effectively and independently, is staffed with people of appropriate experience and qualifications holding clearly defined roles, has access to every part of the institution capable of generating material risk including information technology systems and systems development resources, and is required to notify the Board of any significant breach of or material deviation from the framework.

Maintained by Gerard BlokdykVerified against the published standard Control text last updated

What else in your programme already covers this

This control maps to 13 controls across 10 other frameworks. If you already hold one of them, the evidence you collected for it is the starting point here rather than new work.

NIST Cybersecurity Framework 2.0 · 2 controls

  • NIST-CSF-GV.RR-02 Roles, responsibilities, and authorities related to cybersecurity risk management are established, communicated, understood, and enforced
  • NIST-CSF-GV.RR-03 Adequate resources are allocated commensurate with the cybersecurity risk strategy, roles, responsibilities, and policies

NIST SP 800-161 Rev 1 · 2 controls

  • 161R1-PM-29 Risk Management Program Leadership Roles
  • 161R1-PM-3 Information Security and Privacy Resources

SOC 2 · 2 controls

  • SOC2-CC1.3 CC1.3 Structures, reporting lines, authorities and responsibilities (COSO principle 3)
  • SOC2-CC1.4 CC1.4 Attracting, developing and retaining competent people (COSO principle 4)

APRA SPS 220 Risk Management (Superannuation) · 1 control

  • SPS220-16 Designated Risk Management Function

Cloud Security Alliance Cloud Controls Matrix (CCM) v4.0.1 · 1 control

FedRAMP High · 1 control

  • PS-9 Position Descriptions (PS-9)

FedRAMP Moderate · 1 control

  • PS-9 Position Descriptions (PS-9)

HIPAA Security Rule · 1 control

NIST SP 800-53 Rev 5 · 1 control

NIST SP 800-66 Rev 2 · 1 control

Every mapping shown was judged rather than inferred from wording similarity, and the ones that failed review are published too. See the coverage reports and what was rejected.

Query this from an agent

The graph holds this control, the 13 it maps to, and the evidence behind each claim, over MCP and REST.

MCP endpointAll APRA CPS 220 Risk Management controls