Operational resilience is the next phase in the evolution of financial services regulatory policy.
Operational resilience is the ability to “prevent, adapt, respond to, recover and learn from operational disruptions".
Regulators’ expectations are increasing – but it’s an evolution rather than a revolution; firms – more specifically firms’ senior managers – must “join the dots” across a range of practical risk management and governance activities. In an increasingly digitalised and complex world, disruption is inevitable and will affect the whole of the operation –financial, people, regulatory, structures, and systems.
To strengthen operational resilience, firms must prepare and mitigate for the impacts of future incidents. Building a framework that incorporates tolerances for internal and external triggers is fundamental to an efficient and sustainable business that can respond quickly to risks and pursue opportunities
To help you stay up to date, we have created this interactive timeline of global standards and key regulatory milestones across the UK, EU, Hong Kong and Singapore. Over the coming months, more financial centres will be added, so bookmark this page for easy access.