Make use of APRA CPS 234
Conclusion: Australian financial organisations have been bombarding their suppliers and partners with requests to complete security assessments. If servicing or dealing with financial organisations is part of the operational model for the organisation, this has probably already happened or is about to happen.
Those financial bodies are being driven by an Australian Prudential Regulation Authority (APRA) issued prudential standard CPS 234 (Cross-industry Prudential Standard). This document lays out how a financial body should manage its cyber security with particular emphasis on extending that management to parties that support or supply the financial body.
These assessments can be tedious and raise concerns about cyber security maturity within the organisation. On the other hand, they bring a clear high-level focus on areas that all organisations should either be covering or working towards covering. This makes CPS 234 a valuable reference for senior executives building a cyber security program.