How We Helped an APRA Entity Get Ready for CPS230
Preparing for CPS230
An APRA regulated financial services company approached Ethika when facing the daunting task of preparing for CPS230 compliance.
Their challenges included:
- Risk management frameworks that needed a comprehensive update to comply with CPS230.
- A small team overwhelmed by the volume of contracts and policies to review.
- Limited tools for identifying and managing emerging risks.
- Pressure from the board to ensure readiness within a tight deadline.
- Lack of risk management framework or registers.
How Ethika Solved It
Ethika provided a combination of AI tools and expert advisory services to tackle the challenge:
01. Framework Uplift
We used AI and deep human expertise to update their risk management frameworks in line with CPS230 requirements.
02. Streamlined Contract Reviews
Our AI driven process reduced contract review time by 50%, freeing the team for higher-value work.
03. Uplifted SOPs and Policies
We used AI-driven processes to verify and uplift of hundreds of standard operating procedures so their operational resilience wasn’t a superficial exercise.
04. Risk Assessments at Scale
Conducted over 1500 risk assessments on suppliers to risk rate and remediate them efficiently.
05. Board Confidence
Delivered clear, actionable risk reports that gave the board confidence in their risk strategy.
The Result
The company achieved full compliance ahead of schedule, reduced operational costs by 40%, and gained a proactive approach to managing risks. Their board and management now views risk management as a strategic advantage.
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Partnering with Ethika was a game-changer for us. Before, our team struggled with outdated, manual processes that made keeping up with CPS230 and other regulatory demands a constant uphill battle. Ethika's AI-driven services streamlined everything—from contract reviews to risk framework updates—freeing up our team to focus on higher-value tasks.
The insights we gained not only ensured compliance ahead of schedule but also gave us a clear edge in managing emerging risks proactively. We reduced costs significantly, improved efficiency, and now have a board that’s confident in our risk strategy. Ethika didn’t just solve our immediate challenges—they set us up for long-term success.
Reach out to Ethika today for a tailored consultation and discover how our AI-driven solutions and expert guidance can streamline your processes, reduce risk, and empower your team.
Schedule a Call
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