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APRA SPS 220 Risk Management (Superannuation) for Compliance Officers

What does APRA SPS 220 Risk Management (Superannuation) require of a Compliance Officer?

Australian Prudential Regulation Authority Prudential Standard SPS 220 sets out risk management requirements specifically for RSE licensees (superannuation trustees). Under APRA SPS 220 Risk Management (Superannuation), which defines 28 controls, a Compliance Officer's work is deciding which controls you own outright, which you share and which belong to another team, then holding the evidence for the first group.

Which APRA SPS 220 Risk Management (Superannuation) controls land on the Compliance Officer

Compliance Officers ensure the organisation meets its regulatory obligations. They manage audit programmes, maintain evidence repositories, track regulatory changes, and coordinate across business units to sustain compliance posture.

APRA SPS 220 Risk Management (Superannuation) defines 28 controls across 10 domains that directly affect the Compliance Officer role. Understanding which controls fall within your ownership, which are shared, and which are owned by other teams is the foundation of effective compliance management.

What a Compliance Officer is accountable for under APRA SPS 220 Risk Management (Superannuation)

1

Monitoring regulatory changes and assessing their impact on the organisation

2

Managing internal and external audit programmes and evidence collection

3

Maintaining compliance documentation, policies, and control frameworks

4

Coordinating with business units to implement and maintain required controls

5

Reporting compliance status to senior leadership and regulatory bodies

Where Compliance Officers lose time on APRA SPS 220 Risk Management (Superannuation)

These are the most common obstacles Compliance Officers face when managing APRA SPS 220 Risk Management (Superannuation) compliance, and how to address them:

Challenge 1

Tracking overlapping requirements across multiple regulatory frameworks

Challenge 2

Collecting evidence from multiple teams and systems for audit readiness

Challenge 3

Keeping policies and procedures current as regulations change

Challenge 4

Demonstrating compliance ROI to justify programme investment

Challenge 5

Managing the volume of regulatory change across jurisdictions

A working order for a Compliance Officer starting on APRA SPS 220 Risk Management (Superannuation)

1. Readiness Assessment

Take a 5-minute readiness assessment to identify your organisation's current gap profile against APRA SPS 220 Risk Management (Superannuation). Get a prioritised action plan tailored to your specific situation.

2. Cross-Framework Mapping

Use our platform to map APRA SPS 220 Risk Management (Superannuation) controls against other frameworks you already comply with. APRA SPS 220 Risk Management (Superannuation) maps to 84 other frameworks in our database.

3. Build Your Toolkit

Equip yourself with APRA SPS 220 Risk Management (Superannuation) toolkits, self-assessments, and implementation guides from our store. Resources designed specifically for Compliance Officers managing compliance programmes.

4. Continuous Monitoring

Establish ongoing compliance monitoring using our platform's gap analysis tools. Track your maturity over time and demonstrate progress to stakeholders.

APRA SPS 220 Risk Management (Superannuation) in your sector

APRA SPS 220 Risk Management (Superannuation) for Healthcare→APRA SPS 220 Risk Management (Superannuation) for Financial Services→APRA SPS 220 Risk Management (Superannuation) for Technology→APRA SPS 220 Risk Management (Superannuation) for Government→APRA SPS 220 Risk Management (Superannuation) for Manufacturing→APRA SPS 220 Risk Management (Superannuation) for Energy→APRA SPS 220 Risk Management (Superannuation) for Retail→APRA SPS 220 Risk Management (Superannuation) for Education→

Who else owns part of APRA SPS 220 Risk Management (Superannuation)

APRA SPS 220 Risk Management (Superannuation) for CISOsView guide →APRA SPS 220 Risk Management (Superannuation) for Risk ManagersView guide →APRA SPS 220 Risk Management (Superannuation) for IT DirectorsView guide →APRA SPS 220 Risk Management (Superannuation) for DPOsView guide →APRA SPS 220 Risk Management (Superannuation) for AuditorsView guide →

Questions Compliance Officers ask about APRA SPS 220 Risk Management (Superannuation)

What does a Compliance Officer need to know about APRA SPS 220 Risk Management (Superannuation)?
As a Compliance Officer, your key responsibilities under APRA SPS 220 Risk Management (Superannuation) include monitoring regulatory changes and assessing their impact on the organisation and managing internal and external audit programmes and evidence collection. The framework contains 28 controls that fall within your area of responsibility. Understanding which controls you own versus which are shared with other teams is critical for effective implementation.
How does APRA SPS 220 Risk Management (Superannuation) affect the Compliance Officer role?
APRA SPS 220 Risk Management (Superannuation) directly impacts Compliance Officers through monitoring regulatory changes and assessing their impact on the organisation, managing internal and external audit programmes and evidence collection, maintaining compliance documentation, policies, and control frameworks. The framework provides structure that helps Compliance Officers demonstrate due diligence and report compliance status to stakeholders.
What are the biggest APRA SPS 220 Risk Management (Superannuation) challenges for Compliance Officers?
Common challenges include tracking overlapping requirements across multiple regulatory frameworks; collecting evidence from multiple teams and systems for audit readiness; keeping policies and procedures current as regulations change. Using cross-framework mapping tools and automated evidence collection can significantly reduce these pain points.
How should a Compliance Officer prepare for a APRA SPS 220 Risk Management (Superannuation) audit?
Start by conducting a readiness assessment to identify gaps. Then focus on maintaining compliance documentation, policies, and control frameworks and coordinating with business units to implement and maintain required controls. Maintain a current evidence repository and ensure all control owners have documented their processes. Our readiness reports provide a prioritised action plan specific to your gap profile.
What tools help Compliance Officers manage APRA SPS 220 Risk Management (Superannuation) compliance?
Effective APRA SPS 220 Risk Management (Superannuation) compliance management requires tools for gap analysis, control mapping, evidence collection, and reporting. Our compliance platform provides AI-powered gap analysis across 1,121 frameworks with 315K+ verified control-to-control mappings, helping Compliance Officers identify overlapping requirements and reduce duplicate compliance effort.

Compliance Officer: How ready is your organisation for APRA SPS 220 Risk Management (Superannuation)?

Answer 25 questions and get a professional readiness report with gap analysis, maturity scores, and prioritised action items. Results in 5 minutes.

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Written and maintained by Gerard Blokdyk, The Art of Service.Last updated .