Operational Resilience

Strengthening your organisation’s planning and response to operational disruptions

Achieving Operational Resilience, not just a regulatory requirement.

Operational Resilience is a key regulatory priority and refers to the ability of firms, financial market infrastructures and the financial services sector as a whole to prevent, respond to, recover and learn from operational disruptions.

Operational Resilience is not just a regulatory requirement, but is a better way to run a firm, help improve controls and deliver better outcomes for customers and the market.  It is a complex and holistic process which requires time and resources to implement reliably.

By 31 March 2022, firms need to have assessed their ability to remain within impact tolerances.  After that date, they need to review important business services at least annually and remedy any operational resilience gaps.  By 31 March 2025, they need to be able to operate consistently within impact tolerances.

Our regulatory compliance specialists provide firms project assistance in meeting their operational resilience obligations, ensuring compliance with the respective regulatory deadlines and requirements, and maintaining operational continuity.

 

Operational Resilience,
Outsourcing and Third-Party Risk Management

  Outsourcing is not a new topic, but there are increasing pressures for organisations to keep pace with market innovation

 

 

 

 

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Maintaining important business services within impact tolerances

 

Organisational Resilience

We collaborate with clients at all stages of their operational resilience journey.  We provide subject matter expertise and project input during the implementation phase in order to assist them with meeting their operational resilience obligations including:

  • Delivering tailored workshops and training to Senior Managers and project teams.
  • Identifying important business services
  • Setting impact tolerances for each important business service.
  • Identifying and mapping supporting resources
  • Conducting testing to assess their ability to remain within impact tolerances.
  • Preparing a self-assessment document detailing the firm’s journey in meeting operational resilience requirements, for Board sign-off.
  • Assisting with remediation activities to address any operational resilience gaps identified.

We also carry out project audits and independent assessments of a firm’s operational resilience framework in order to provide assurance to Boards and Senior Managers on the firm’s operational resilience readiness.

Expert operational resilience input and independent assurance.

Xcina’s regulatory compliance consultants work seamlessly with firms, achieving the following:

  • Input from our operational resilience specialists will significantly enhance the likelihood of the firm successfully meeting its obligations within the relevant timeframes by establishing a robust operational resilience framework. This will optimise the firm’s ability to respond positively to unplanned disruptions and events with minimal impact to markets and consumers.
  • An independent review of the firms’ operational resilience framework provides independent assurance and peace of mind to the Board and Senior Managers regarding the adequacy of the firm’s
  • The firm’s Senior Managers will be in a stronger position to evidence the discharge of their accountabilities and responsibilities with regard to meeting the firm’s operational resilience
  • Upskilling of teams and further embedding of the operational resilience within mindsets across the firm.
  • Regular sharing of insights into relevant operational resilience trends and developments, as well as leading practices.
Operational Resilience

Establish an operational resilience framework with confidence

Organisational Resilience

Our team includes multidisciplinary expertise across regulation, operational risk as well as technology.  Clients benefit from our extensive subject matter expertise and leading practices gained from assisting organisations across financial services sectors with their operational resilience requirements. 

Our Operational Resilience consultants are attuned to the latest developments, regularly providing thought leadership and speaking at industry conferences on operational resilience.  Our team is able to provide pragmatic value-added operational resilience solutions and recommendations tailored to your specific context, not generic impractical recommendations.

We partner with clients along their operational resilience journey, share with them our deliverables and provide knowledge transfer including providing training so that their team is equipped to use and maintain the Operational Resilience framework independently going forward.

We provide a flexible solution enabling clients to cost-effectively access subject matter expertise and advice upon request.

What our clients say

Operational resilience … other organisations have had longer to do this but we’re still working to the same timeline, which is March 2022, a short timescale in reality. Utilising Xcina has helped in running the workshops internally within Perenna, producing output, putting things together, a really good piece of work.

Colin Bell, COO & Co-Founder at Perenna

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