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When You Can’t Rely on a Crystal Ball, Elevate and Invest in Resilience

Fusion Risk Management

Where are my vulnerabilities? But, with the invention of a crystal ball not on the horizon, organizations need an alternate way to gain a complete view of their important business services and be better prepared to prevent a potential disruption before it materializes. Where are my strengths? Where should I focus my efforts?

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Operational Resilience in 2023: What Can We Expect?

Fusion Risk Management

After all, Operational Resilience is not limited to the financial services industry. Operational Resilience is much more than just a compliance activity. The intent is to establish “resilience-by-design” in strategic investments and critical projects.

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The Playbook for Resilient Operations in Financial Services – March 2022 and Beyond

Fusion Risk Management

While we know that complying with it will take considerable time and investment, you are to an extent future proofing your business. You’re investing to make sure your important business services can withstand the unknown. Revisiting impact tolerances as services and value chains evolve .

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Sensing the Tremors of Disruption

Fusion Risk Management

In mapping all the important business services, many resilience managers reported finding themselves overwhelmed by the amount of data that required capture and analysis. This degree of scenario testing helps to highlight further vulnerabilities. Speed of Response. Decision-making assumptions are where we could fail.”.

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The Importance of Impact Tolerance in Operational Resilience

Castellan

By understanding your impact tolerance, you can better understand the impact single points of failure and vulnerabilities could have on your organization. Impact tolerance is an important component of an operational resilience strategy. And, importantly, learning from those events, by asking: What happened we didn’t anticipate? DOWNLOAD NOW.

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PRA’s Operational Resilience Roadmap: Looking Ahead to the March 2025 Compliance Deadline

Castellan

Defining Important Business Services (IBS) and Impact Tolerances were the first major milestones with initial compliance dates of March 31, 2022. The PRA uses an example from payment services and highlights the different ways organizations have defined a business service.

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Operational Resilience: Is it just business continuity done properly?

Plan B Consulting

In these two papers, the Bank of England and the FCA lay out how they want financial institutes to carry out a series of operational resilience activities to make the whole of the UK’s financial market more resilient, and that an incident in one organisation could have a major impact on other companies, leading to financial collapse.