{"id":3472,"date":"2021-02-10T20:24:30","date_gmt":"2021-02-10T20:24:30","guid":{"rendered":"https:\/\/www.icsr.co.uk\/?page_id=3472"},"modified":"2022-07-06T09:44:26","modified_gmt":"2022-07-06T09:44:26","slug":"operational-resilience","status":"publish","type":"page","link":"https:\/\/www.icsr.co.uk\/operational-resilience\/","title":{"rendered":"Operational Resilience"},"content":{"rendered":"

[et_pb_section fb_built=”1″ _builder_version=”4.7.4″ _module_preset=”default”][et_pb_row column_structure=”1_2,1_2″ _builder_version=”4.7.4″ _module_preset=”default”][et_pb_column type=”1_2″ _builder_version=”4.7.4″ _module_preset=”default”][et_pb_image src=”https:\/\/www.icsr.co.uk\/wp-content\/uploads\/2021\/02\/Pixabay-success-2081167.jpg” alt=”Operational resilience” title_text=”Operational resilience” _builder_version=”4.7.4″ _module_preset=”default”][\/et_pb_image][\/et_pb_column][et_pb_column type=”1_2″ _builder_version=”4.7.4″ _module_preset=”default”][et_pb_text _builder_version=”4.7.4″ _module_preset=”default”]<\/p>\n

Operational Resilience<\/h1>\n

[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=”4.7.4″ _module_preset=”default”][et_pb_column type=”4_4″ _builder_version=”4.7.4″ _module_preset=”default”][et_pb_text admin_label=”Intro text” _builder_version=”4.7.4″ _module_preset=”default”]<\/p>\n

Operational Resilience has received increased regulatory scrutiny with the release of the joint discussion paper by the Bank of England, Financial Conduct Authority and the Prudential Regulatory Authority in July 2018. A clear statement from the regulators that the continued failure of organisations through neglect or oversight to implement strong Operational Resilience controls was no longer acceptable in light of the evident harm caused to consumers and markets.<\/p>\n

The regulators are now close to releasing a final Policy Statement which, once delivered, we expect to set the clock running for firms. Inaction will no longer be an option and we anticipate firms will need to be substantively \u2019complete\u2019 by the end of this year.<\/p>\n

Firms must look at their Operational Resilience and ensure that they take action to minimise the risk of harm to customers arising through interruptions to Important Business Services. The approach will need to consider:<\/p>\n