With regulators sharpening their focus on fourth to nth-party risks, financial institutions must rethink their approach to compliance and resilience. Download our white paper to explore the essential framework changes needed to enhance risk visibility, ensure regulatory compliance, and leverage advanced technology for continuous risk monitoring. Discover More About: Enhancing

It would not be a misplaced statement to say that banks world over are under pressure to maintain a profitable bottom line. Stringent regulatory reporting and compliance requirements, a challenging market environment, and competition from fintech start-ups have squeezed profit margins for banks and have forced them to look inwards

Covid-19 pandemic have made financial institutions realize, the need to adopt an industry recognized operational resilience framework to be able to withstand the next disruption.

Operational Resilience is about having a comprehensive understanding of the core, or critical services that an enterprise offers to its customers and that must continue to operate during a period of disruption.

The operationally resilient firm would be expected to have a comprehensive understanding and mapping of the resources and dependencies that support their business services. Firm`s should identify and document the resources that deliver and support their critical business services. This identification process is referred to as mapping. Firms will only

Impact tolerance is defined as a firm’s tolerance for disruption to a particular business service. Setting impact tolerances for critical business services may help ensure that boards and senior management consider what the firm would do when a disruptive event occurs, rather than only trying to minimise the probability of

Financial firms would be required to carry out regular scenario testing of their ability to remain within their impact tolerances for each of their critical business service. The primary objective of the testing is to better understand the systems and process and identify vulnerability that needs remediation. Additionally, the firms

A firm should be prepared to manage all types of risks which has the potential to affect the critical services. It’s to be understood that the firm is bound to encounter number of risks and should leverage different risk management frameworks, as appropriate, to offer holistic and comprehensive support to