How Control Functions Across all three Lines of Defence are Updating their Resilience Planning.

During times of organisational crises, the need to remain compliant when it comes to the trading floor is still present. Having resilient and robust business continuity plans in place are paramount in order to manage operational risk. Being resilient requires the “ability to prevent, adapt to, respond to and recover from operational disruptions without impact to markets or customers”. However the key challenge is creating an environment where businesses can understand where the risks are and how various organisations and divisions can respond, collaboratively.

Read our report in conjunction with 1LOD Digital Debates to explore the following:

Key Learnings

  • What operational resilience means during a crisis
  • How the COVID-19 outbreak has affected reliance on mobile communications now and in the future when it comes to mobile recording
  • The importance of third-parties to banks during operational crises when it comes to operational resilience
  • The importance of diverse datasets to identify risk signals
  • Adapting testing processes from periodic scheduled testing cycles to risk indicator-led testing cycles.

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