Hongkong’s Regulations for Operational Resilience

Hongkong’s Regulations for Operational Resilience

On 22nd December, 2021 HKMA (Hong Kong Monetary Authority) came up with a Supervisory Policy Manual for Operational Resilience to provide Authorized Institutions (AI) with guidance on the general principles which they are expected to consider when developing their operational resilience framework. When is an AI said to be Operationally Resilient? An AI is said […]

Irelands’ Financial Service Sector Guidance on Operational Resilience

Irelands’ Financial Service Sector Guidance on Operational Resilience

The Central Bank of Ireland`s objective of this guidance is to communicate to industry how to prepare for, respond to and recover and learn from an operational disruption that affects the delivery of critical or important business services. The Guidance aims to boost operational resilience and recognise the interconnections and interdependencies, within the financial system, […]

New Operational Resilience Regulation for Financial Institutions in United States (USA)

New Operational Resilience Regulation

The Federal Reserve, the Central Bank of the United States in August 2021 has released a paper intended to help community banks assess threats when considering connections with financial technology (fintech) companies. This paper came up after the European Central Bank and the UK Prudential Regulatory Authority released regulations around operational resilience earlier in 2021. […]

Process Mapping is an important step in building an Operational Resilience Framework

Process Mapping is an important step in building an Operational Resilience Framework

The Covid -19 pandemic has clearly shown two trends within firms: The intensified use of technology and Operations can be managed through digital work force also. The pandemic-related disruption has impacted processes, people, service providers, customers, internal systems, employees, and facilities. Regulators across the globe are concerned that, as dependability on technology and digital way […]

Growing Importance of Operational Resilience in the Digital Era

Growing Importance of Operational Resilience in the Digital Era

Operational Resilience assumes that things will go wrong, and it will force organizations to plan on how to recover from the disruption. It is a mindset shift. Rather than trying and controlling disruptions, the approach is to assume disruptions will happen and plan accordingly on how to recover and comeback to normalcy from that state.  […]