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 Sponsored by Freshworks When your AI chatbots mess up AI ‘hallucinations’ present significant business risks, but new types of guardrails can keep them from doing serious damage By Paul Gillin Dec 08, 2023 4 mins Generative AI brandpost Sponsored by Dell New research: How IT leaders drive business benefits by accelerating device refresh strategies Security leaders have particular concerns that older devices are more vulnerable to increasingly sophisticated cyber attacks. By Laura McEwan Dec 08, 2023 3 mins Infrastructure Management case study Toyota transforms IT service desk with gen AI To help promote insourcing and quality control, Toyota Motor North America is leveraging generative AI for HR and IT service desk requests. By Thor Olavsrud Dec 08, 2023 7 mins Employee Experience Generative AI ICT Partners feature CSM certification: Costs, requirements, and all you need to know The Certified ScrumMaster (CSM) certification sets the standard for establishing Scrum theory, developing practical applications and rules, and leading teams and stakeholders through the development process. By Moira Alexander Dec 08, 2023 8 mins Certifications IT Skills Project Management 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