Growing Importance of Process Visualisation in Operational Risk & Resilience Management

Process Visualization for Operational Risk & Resilience

Embarking on a journey through the realms of Process Visualization, Operational Risk, and Operational Resilience. let us understand the Growing Importance of Process Visualization in Operational Risk & Resilience Management. What is Process Visualization? Process visualization Involves creating and presenting graphical representations of workflows and activities, ranging from simple to intricate. In addition to delineating […]

Fortifying Digital Frontiers: DORA’s Role in Enhancing ICT Risk Management

DORA's Role in Enhancing ICT Risk Management

In the complex world of contemporary finance, where new digital innovations occur at a dizzying rate and new cyber dangers appear at every turn, the Digital Operational Resilience Act (DORA) of the European Union serves as a beacon to guide the financial sector across these treacherous waters. Financial institutions may rest assured that their operations […]

The ICT Risk Management Revolution: An Outline of DORA Articles 5-16

ICT Risk Management: Outline of DORA Article 5-16 - Gieom

Due to continuous digital advancements, the financial sector is seeing significant hurdles in handling and reducing information and communication technology (ICT) risks. The Digital Operational Resilience Act (DORA) by the European Union aims to strengthen the digital infrastructure of financial institutions. Articles 5-16 of DORA offer a detailed plan for improving operational resilience by highlighting […]

Process Mapping – The What, Why and How?

Process Mapping – The What, Why and How?

What is Process Mapping? Let us break down the words. Process means “a series of actions you do for a particular purpose that produce an outcome”. Mapping means “creating a picture or diagram that represents something (a process)”. Process Example – If You want to make 1 cup of Tea so, here is the process […]

The Role of Process Mapping in Change Management

The Role of Process Mapping in Change Management

Change is constant in the fast-paced world of business. Companies must frequently adjust operations to respond to market developments, technology advancements, or internal reorganisation. Process mapping is an invaluable tool in change management. Here are some of the many instances in which process mapping can help change management and employee adaptation to new processes. VISUAL […]

Overview of the Australian Operational Resilience Regulatory Guidelines

Overview of the Australian Operational Resilience Regulatory Guidelines

The objective of this Prudential Standard CPS 230 is to establish and uphold operational resilience for APRA (Australian Prudential Regulation Authority) regulated entities. Such entities are required to proficiently mitigate operational risks, ensure the continuity of critical operations during disruptions, and effectively address risks associated with service providers. This Prudential Standard is applicable to all […]

Policy Management Solutions: Your Key to DORA Compliance

Building Resilience: The Crucial Role of Policy Management Solutions in Compliance with the Digital Operational Resilience Act(DORA)

A policy management solution is of utmost importance from a Digital Operational Resilience Act (DORA) regulation perspective. The DORA regulation aims to ensure the operational resilience of digital services providers, including financial institutions and other critical entities, in the face of cyber threats and other disruptions. Implementing a comprehensive policy management solution is crucial for […]

6 Simple Steps for Implementing an Operational Resilience Framework

6 Simple Steps for Implementing an Operational Resilience Framework

On March 29, 2021, the Bank of England (BoE), Prudential Regulation Authority (PRA), and Financial Conduct Authority (FCA) jointly issued policy and supervisory statements to enhance the UK financial system’s resilience against operational disruptions. Operational resilience necessitates firms embracing the notion that disruptions are inevitable. The underlying assumption is that business disruptions and failures will […]

Digital Operational Resilience Act (DORA) – A Brief Overview

Digital Operational Resilience Act (DORA) – A Brief Overview

The use of information and technology is essential in the modern era as it supports complex systems used for daily activities. It plays a critical role in keeping our economies running, especially in key sectors such as finance, and improves the functioning of the internal market. However, as digitalization and connectivity continue to increase, so […]

Operational Resilience Program – Steps to Conduct a Failure Modes and Effect Analysis (FMEA)

Operational Resilience Program – Steps to Conduct a Failure Modes and Effect Analysis (FMEA)

Basel defines Operational Resilience as a bank`s ability to deliver critical operations even at times of disruption. This would mean that the bank should have the ability to identify and protect itself from threats and potential failure. Failure Mode Effect Analysis is a step-by-step approach for identifying possible vulnerabilities or failures and prioritize the same […]