Operational Resilience and Third Party Risk Management – What does it mean for you?
The disruption experienced across many business sectors over the last 18 months has been met with various operational challenges. While many firms have taken steps to minimise significant lasting impact, measures taken do not go far enough.
Over the next few weeks, our Senior Director and Regulatory Compliance Lead, Lindsey Domingo at Xcina Consulting, addresses key questions Boards and Senior Managers should be asking following the proposals and expectations set out by the FCA, PRA and Bank of England.
Our analysis this week focuses on the following:
- What is the regulators’ perspective on Operational Resilience?
- Which organisations are impacted by the Operational Resilience obligations?
- Why is this important now? – Key definitions explained
- How should firms be demonstrating compliance and approaching this exercise?
- When do firms need to comply with the requirements by?