APRA CPS 220 Risk Management CPS220-P30: Minimum Contents of the Risk Management Strategy

The risk management strategy must at least describe each material risk identified and the approach to managing it, list the policies and procedures dealing with risk management matters, summarise the role and responsibilities of the risk management function, describe the risk governance relationship between the Board, board committees and senior management with respect to the framework, and outline the approach to ensuring all persons in the institution are aware of the framework and to instilling an appropriate risk culture.