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
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
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 […]
How Financial Institutions can benefit from Incident Management Solution?
Financial institutions, such as banks, insurance companies, and investment firms, face various challenges in their daily operations. They have to deal with complex regulations, high customer expectations, cybersecurity threats, and competitive pressures. In such a dynamic and demanding environment, incidents are inevitable. Incidents are unplanned events that disrupt the normal functioning of a system or […]
From Spreadsheets to Success: Advantages of Operational Risk Management Software for Financial Organizations
Many financial organizations still rely on spreadsheets to manage their operational risk data. While spreadsheet is a powerful and versatile tool, it has some limitations and drawbacks that can compromise the quality and accuracy of risk analysis and reporting. In this blog post, we will discuss why financial organizations should move from spreadsheets to operational […]
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 […]
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)
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 […]
Operational Resilience
Operational Resilience WATCH VIDEO Request a demo What is Operational Resilience? The ability of an enterprise to continue providing services to consumers despite a sudden disturbance is known as operational resilience. The ability to prevent, respond to, recover from, and learn from operational interruptions is a key priority of operational resilience. Previously, that concept was […]
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. […]
