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Geopolitics, regulations, and resilience

Fusion Risk Management

Keeping third-party risk management top of mind, building a stronger foundation of risk management, and working with and learning from industry peers were the top three agreed takeaways. Another U.S. The panel agreed that regulators are taking a more prescriptive approach to TPRM across the globe.

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Empowering Customers on Their Resilience Journey with a New Model of Compliance

Fusion Risk Management

And just like that, the first milestone on the Bank of England, Prudential Regulation Authority (PRA), and Financial Conduct Authority (FCA) operational resilience regulatory timeline came and went. Reach out to your Account Manager to learn more about this new integration!

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Operational Resilience in 2023: What Can We Expect?

Fusion Risk Management

and the EU operate with dedicated teams who work with the organization and local regulators to address the requirements that have been established by the Bank of England (BoE), Financial Conduct Authority (FCA), Prudential Regulation Authority (PRA), and other EU-based authorities.

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Preparation Continues for the Digital Operational Resilience Act

Fusion Risk Management

Increasingly, financial services supervisory authorities are seeking to ensure that the third parties that are supporting a firm’s important business services meet all resilience requirements. One legislation addressing these risks is the landmark Digital Operational Resilience Act (DORA). Risk Management.

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The Digital Operational Resilience Act is Finalized – Now is the Time to Act

Fusion Risk Management

The DORA is an expansion of the groundbreaking operational resilience requirements first set forth by the Bank of England , FCA, and PRA. The key difference between the DORA and other resilience requirements is that its focus is on Information and C ommunication T echnology ( ICT ) risk. Defining a Critical ICT. Map your dependencies.

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TSPs: Making the Case to Invest in Risk and Resiliency

Fusion Risk Management

Even if it is difficult to use that regulatory hammer to secure funding for budget to purchase technology, this should not stop a progressive organization from using effective risk management disciplines to run their programs and serve their customers. Or, as so well articulated by the great British writer C.

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Everything You Need to Know About Business Continuity Plans

Erwood Group

Some managers have authority and experience as to when to invoke all or parts of a business continuity plan. If you have a key contact or account manager there, you can even include, ask for Betty or Steve. Strategy 2 – Utilize Alternate Method – Notify Bank to Utilize Previous Weeks Payroll.