Bring clarity to processes and key people, technology, information, facilities and service provider resources needed for critical operations
CPS 230 compliance is non-negotiable for financial institutions. It requires entities to identify critical operations and document their processes and resources including people, technology, information, facilities and service providers.
Entities are expected to underpin operational risk assessments with clear documentation of these processes and resources. They need to conduct scenario analysis and keep records of how changes to these resources in the operating environment (e.g. a disabled supplier or technology) could affect their ability to operate.
Creating clarity of the processes and resources can be challenging – the disparate pieces of information are often held in different places and systems across the organisation, and sometimes might not exist at all.
This vast information needs to be consolidated, governed with clear stakeholder accountabilities, and kept up to date at all times.
This is where Holocentric Connect comes in – it enables teams to collaborate and manage process and resource information for CPS 230 compliance easily.
Link your organisation’s obligations, regulations and policies to processes to support deeper understanding of the business drivers the process and their resources contribute to compliance to regulations and internal policies.
Link risks and controls to processes and resources to provide clarity of the operational risk landscape and logic for the identified risks and controls.