The Risk Glossary
300+ curated definitions across ERM, cyber, privacy, AML/CTF, ESG and emerging risk — tuned to Australian regulatory vocabulary.
12 TERMS
CPS 230 Tolerance Level
The board-approved maximum acceptable disruption to a critical operation — time, data loss and minimum service — required under APRA CPS 230.
Notifiable Data Breach
An eligible data breach under the Privacy Act 1988 likely to result in serious harm, triggering notification to the OAIC and affected individuals.
Essential Eight Maturity Level
A 0–3 rating of how completely an organisation has implemented the ACSC's eight mitigation strategies against escalating tradecraft.
Material Service Provider
A provider on which an APRA-regulated entity relies for a critical operation, or that exposes it to material operational risk — registrable under CPS 230.
System of National Significance
A critical infrastructure asset declared under the SOCI Act attracting enhanced cyber obligations including incident response planning and vulnerability reports.
FAR Accountable Person
A senior executive registered under the Financial Accountability Regime with prescribed responsibilities and deferred-remuneration consequences.
Scope 3 Emissions
Indirect value-chain emissions — 15 categories — disclosable from year two of an entity's AASB S2 reporting.
Suspicious Matter Report
A report to AUSTRAC where a reporting entity suspects on reasonable grounds a link to crime — 24 hours for terrorism financing, 3 business days otherwise.
Three Lines Model
Governance model separating management controls, risk & compliance oversight, and independent internal audit assurance.
Shadow AI
Unauthorised or undisclosed use of AI tools by employees outside formal governance — an emerging APRA and OAIC supervisory theme.
Risk Appetite Statement
A board-approved articulation of the risk the entity is willing to take — mandated for APRA entities under CPS 220.
IRAP Assessment
An Infosec Registered Assessors Program review against the ISM, commonly required for cloud services handling Australian government data.