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Operational Resilience Self-Assessment: Achieving the March 2022 Deadline

Castellan

In March 2021, The Bank of England, the Prudential Regulation Authority (PRA), and the Financial Conduct Authority (FCA) published policy documents about operational resilience. In terms of self-assessment, regulators do not expect firms to build out a full operational resilience capability ; instead, they are looking for a gap analysis.

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Preparation Continues for the Digital Operational Resilience Act

Fusion Risk Management

Currently, TSPs are subject to financial service providers’ requirements via contractual obligations (such as the European Banking Authority’s third-party outsourcing requirements). One legislation addressing these risks is the landmark Digital Operational Resilience Act (DORA).

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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. Leverage a gap analysis to understand where your organization can strengthen current processes or add new ones to meet the range of proposed requirements for your ICT risk management framework. .