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 […]
Impact Tolerance – Setting Impact Tolerance is a Vital Step to Build and Enhance Operational Resilience of an Organisation.
Impact Tolerance is quantifying the level of disruption, a critical business service can accommodate or absorb, before such disruption creates a significant impact or harm on the organisation or its customers. These impact could be financial, operational, regulatory etc. Regulators now mandating the financial services organisations to quantify these impact tolerances in terms of time […]