APRA introduced the Supervision Risk and Intensity (SRI) model in 2020 to assess risk and determine supervisory intensity. The SRI Model replaced APRA’s Probability and Impact Rating System (PAIRS) and the Supervisory Oversight and Response System (SOARS) which had been in place since 2002.

Grounded on the three core attributes of APRA’s supervision philosophy – risk based, forward looking and outcomes focused – the SRI Model is the common platform by which all APRA-regulated entities are assessed, and their level of supervision intensity determined.

The SRI is a more contemporary model to its predecessor and has been developed to reflect the many changes within APRA’s regulated industries, environment, risks and supervisory approach. Consistent with APRA’s supervision philosophy, the SRI Model is flexible and able to adjust to the evolving risk landscape.

This document provides an overview of the SRI Model and its key components. It forms part of a series of publications explaining how APRA undertakes its responsibilities as a prudential regulator.

You can read more about the SRI Model in the guide below:

For answers to common questions about how the SRI Model is applied in practice, see the Frequently Asked Questions.