Why is this relevant and important?
Operational resilience is a necessary framework and has become fundamental in a backdrop of ever-increasing market uncertainty. Firms that have recognised its importance will be in a stronger position to respond and adapt in the face of disruption and minimise the risk of detriment.
Building and maintaining a resilience organisation is a journey and an iterative learning process. It is not to be underestimated and firms must build in sufficient time. By 31 March 2022 regulators expect firms to have carried out a thorough analysis and assessment to identify major shortcomings and where more work is required.
Important business services are at the core of Operational Resilience. Their identification is one of the critical first steps in a firm’s Operational Resilience journey.
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