Author: CUBE – cube.global
Operational Resilience is broad and far-reaching, touching every aspect of continuity within a business. This CUBE white paper explores the landscape of Operational Resilience and the increasing regulatory obligations facing firms today. Also touching on an ‘at a glance’ view of the key regulatory developments for Operational Resilience published over the last three years.
4 key areas
Transforming Operational Resilience into Operational Excellence
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1. The landscape for Operational Resilience
Operational Resilience is the act of ensuring a business is able to successfully function in the face of market adversity, unprecedented events, or technological malfunction. It requires firms to assess their appetite and tolerance for risk, create business continuity plans (BCP) in anticipation of risk, ensure uptime, and
prevent disruption.
2. Increasing turbulence, increasing regulations
As new risks emerge, regulators have moved swiftly to evolving regulatory guidance, rules and regulations to bring Operational Resilience risks within their ever-expanding regulatory perimeter. Whilst some measures have been temporary, many regulators have issued far-reaching, durable regulatory changes resulting in increased obligations for compliance teams and beyond.
3. The impact of increased regulatory obligations
Operational Resilience is broad and far-reaching, touching every aspect of continuity within a business. Historically this means that identifying specific regulatory obligations for Operational Resilience has been difficult. Obligations existed within a patchwork of existing regulations. Recent global efforts, such as those listed above, look to provide a clear, dedicated Operational Resilience framework that firms can
follow.
4. Managing Operational Resilience with Automated Regulatory Intelligence (ARI)
Broadly speaking, Operational Resilience is designed to ensure the risks of technology, innovation and unexpected events are pre-empted, considered and mitigated in advance. While technology poses risks, it also offers an effective solution for better management of Operational Resilience.
