- Risk Culture: Rolling out the employee risk culture survey to 40 additional regulated entities’ in the insurance and superannuation sectors is among the regulator’s key priorities for 2022.
- Climate risk: APRA has flagged plans to roll out a cross-industry climate risk self-assessment to 90 entities (across APRA-regulated sectors) in H1 2022. The aim it to enable APRA to understand the alignment between entities’ management of climate-relate financial risks, the guidance set out in CPG 229, and the recommendations of the Task Force on Climate-related Financial Disclosures
- Cyber risk: APRA identifies improving cyber resilience as ‘a key cross-industry supervision priority’. Over the next 12 months, APRA plans to: a) continue its CPS 234 Information Security independent compliance assessments of regulated entities (in tranches); b) continue its ‘deep dive thematic reviews’ at selected entities; c) collect ‘cyber resilience data; and d) work with industry and government agencies to ‘expand the cyber information sharing community and collaboration opportunities, thereby improving situational awareness’. In addition, APRA flags and cyber resilience as a key area of focus in the…
