Podcast
EP4 Road to Resilience

EP4 – Road to Resilience

In this episode of RegNut, Isaac and Waleed discuss their preliminary views on FCA’s and PRA’s Operational Resilience agenda, report back from an industry event on how the topic is being received and consider the road ahead.

Show Notes:

Takeaways:

Operational resilience is a journey that started with the joint discussion paper from the FCA and PRA. The journey continues with the consultation paper (CP), seeking a response from the industry by the 3rd of April 2020

Four key messages for regulated firms to reflect on:

  1. Identify your key business services; a key difference in the approach presented in the CP is the shift of focus from business processes to business services which span across multiple processes and teams;
  2. Identify the desired availability for your key business services; consider a reasonable availability (Impact Tolerance) for your key business services against disruption, particularly for services that impact customer outcome;
  3. Identify the key owners for the delivery of these services; identify individuals responsible for effective delivery of your key business services (link to SM&CR) and ensure your Board is engaged and actively challenging the operational resilience of these business services.
  4. Bonus: consider the infrastructure supporting your key business services; identify the robustness of the systems, processes and IT systems supporting your key business activities and the extent to which these resources can help you meet your Impact Tolerance.
References & further reading:
  • Regs: FCA’s operational resilience paper (CP19/32).
  • Background: Commons Treasury Select Committee report on IT failures in financial services  

For more News, Views and Knowledge on all things Risk and Regulation, visit RegNut’s Blog.

Share this Story
  • EP4 Road to Resilience
    Podcast

    EP4 – Road to Resilience

    In this episode, Isaac and Waleed discuss their preliminary views on Operational Resilience agenda and consider the road ahead.
Load More Related Articles
  • EP4 Road to Resilience
    Podcast

    EP4 – Road to Resilience

    In this episode, Isaac and Waleed discuss their preliminary views on Operational Resilience agenda and consider the road ahead.
  • EP2 Feature Image
    Podcast

    EP2 – Raising the Bar

    In this episode, we speak to our first guest from Risk Coalition and discuss the evolving role of the Chair of Risk Committee.
  • EP1 Feature Image
    Podcast

    EP1 – Cracking the Nut

    In out first episode, Isaac and Waleed set out the vision for RegNut, What it is all about, Who it is for and What's to come.
Load More By Team RegNut
  • EP4 Road to Resilience
    Podcast

    EP4 – Road to Resilience

    In this episode, Isaac and Waleed discuss their preliminary views on Operational Resilience agenda and consider the road ahead.
  • EP3 Feature Image
    Podcast

    EP3 – Letters from a captious friend

    In this episode, we introduce our horizon scanning scorecard and do a deep dive on the "Dear CEO" letters published in Jan '20.
  • EP2 Feature Image
    Podcast

    EP2 – Raising the Bar

    In this episode, we speak to our first guest from Risk Coalition and discuss the evolving role of the Chair of Risk Committee.
Load More In Podcast

Check Also

EP3 – Letters from a captious friend

In this episode, we introduce our horizon scanning scorecard and do a deep dive on the "Dear CEO" letters published in Jan '20.

Coming soon

At RegNut we are working on some great new content that will make the world of Risk and Regulation accessible to all.


In the meantime, take a look at our Horizon Scanning Scorecard and bookmark this site for lots more to come ... so watch this space!

EP3 – Letters from a captious friend