APRA CPS 234 Readiness Workshop in AISA Cyber Conference
AISA Cyber Conference - APRA CPS 234 Readiness Workshop
The Optus Macquarie University Cyber Security Hub is leading the paradigm shift from compliance to risk based cyber security management approach, by providing education in cyber risk quantification. The Australian Prudential Regulation Authority (APRA) released Prudential Standard CPS 234 Information Security in Nov 2018, demanding business board of regulated entities to maintain an information security capability commensurate with the size and extent of threats to its information assets, and which enables the continued sound operation of the entity. This standard will be enforced from July 2019, building on the strength of the Prudential Practice Guide CPG 234 which has been released and practiced since 2013. CPS 243 bought into sharp focus of the need to quantify the threat to the entities’ information asset, to demonstrate their security capabilities commensurate with the threat. Research by MRes candidate Denny Wan into cyber risk management in supply chains provides insights into CPS 234 Readiness Programs. Denny is also the chair of the Sydney Chapter of FAIR Institute, focusing on the practicing of theOpen Group Factor Analysis of Information Risk (FAIR) Cyber Risk Quantification framework. He will be delivering a breakout session on “CPS 234 Readiness Program” in the Australian Information Security Association Cyber Conference 2019 scheduled for Oct 2019.