Operational Resilience is defined by UK Regulators, as a firm's ability 'to prevent, adapt, respond to, recover and learn from operational disruptions.'

Boards of regulated organisations are under increasing pressure to respond to difficult questions about how they provide oversight over business models, risk-taking, strategy and long-term business sustainability.

Boards and Senior Management, especially under SMCR are requested to:

• identify critical business services and map delivery back to the essential underlying resources,
• ensure that there is testing to ensure that the firm can withstand a severe event,
• check the results to identify resilience gaps,
• develop existing frameworks and policies to incorporate resilience,
• develop and embed a resilience culture,
  while continually improving the cascade of information and reporting mechanisms in place.

Learning Outcomes:

This two–hour online workshop will aim to consider the following:

• Develop an awareness of current financial services industry trends and practices concerning operational resilience;
• Identify challenges facing firms in the current environment including legal and regulatory, risk and strategy, stakeholders, sustainability and communication;
• Identify practical elements and technical knowledge around conduct and culture about integrity, treating customers fairly and the management of client money and assets; and
• Assess early signs of Regulatory and Operational Risk related explicitly to operational resilience.