The Australian Prudential Regulation Authority (APRA) will soon abandon manual processes used to determine its risk and manage compliance requirements in favour of a system delivered from the cloud. In a request for proposal (RFP) issued on Tuesday, APRA said it would roll out a software-as-a-service system to manage its enterprise risks and compliance obligations. The APRA overseas banks, credit unions, building societies, insurance companies, and most members of the superannuation sector. Currently, complete risk and compliance reporting using Microsoft Excel and the new SaaS system will reduce the manual steps involved in creating and tracking risk management and compliance activities with APRA, tender documents said. “APRA is looking to automate the management of its risk and compliance frameworks, for example, risk scenarios and compliance obligations, starting from the identification and classification through to capturing, monitoring, treating risks and obligations, and reporting,” the tender documents said. The cloud system will be used by more than 100 risk and obligation owners and delegates with oversight provided by risk and compliance management teams. Related content BrandPost The future of trust—no more playing catch up Broadcom: 2023 Tech Trends That Transform IT By Eric Chien, Director of Security Response, Symantec Enterprise Division, Broadcom Mar 31, 2023 5 mins Security BrandPost TCS gives Blackhawk Network an edge with Microsoft Cloud In this case study, Blackhawk Network’s Cara Renfroe joins Tata Consultancy Services’ Rakesh Kumar and Microsoft’s Nilendu Pattanaik to explain how TCS transformed the gift card company’s customer engagement and global operati By Tata Consultancy Services Mar 31, 2023 1 min Financial Services Industry Cloud Computing IT Leadership BrandPost How TCS pioneered the ‘borderless workspace’ with Microsoft 365 Microsoft’s modern workplace solution proved a perfect fit for improving productivity and collaboration, while maintaining security of systems and data. By Tata Consultancy Services Mar 31, 2023 1 min Financial Services Industry Microsoft Cloud Computing BrandPost Supply chain decarbonization: The missing link to net zero By improving the quality of global supply chain data, enterprises can better measure their true carbon footprint and make progress toward a net-zero business ecosystem. By Tata Consultancy Services Mar 31, 2023 2 mins Retail Industry Supply Chain Green IT Podcasts Videos Resources Events SUBSCRIBE TO OUR NEWSLETTER From our editors straight to your inbox Get started by entering your email address below. Please enter a valid email address Subscribe