The Training Environment For Financial Services

Ensuring Operational Resilience in your Organisation

Outline and Objectives

 

Operational disruptions can have a significant impact on the safety and soundness of your firm, your customers and on the economy.

 

This practical course will help you to prepare for operational disruptions, whatever the source, and identify the steps that you can take to reduce the resultant impact. The key to a robust and effective Operational Resilience framework is understanding how you can leverage off existing activities, frameworks and artefacts to create and implement the eight steps necessary for effective Operational Resilience. The looming March 2025 deadline makes ensuring operational resilience particularly important for UK regulated firms.

 

Attending will help you:

  • Understand the global regulatory concerns and expectations
  • Link your operational resilience framework to operational risk management and business continuity frameworks
  • Recognise whether an operational disruption could cause you to breach the Consumer Duty requirements
  • Establish appropriate governance arrangements
  • Identify your important business services
  • Map your important business services to the key operational resources
  • Establish effective impact tolerances
  • Create and implement a scenario process to assess resilience in severe but plausible scenarios
  • Learn from operational disruptions
Who will benefit

 

The course will benefit everyone directly and indirectly involved in operational resilience in the UK and globally, including Operational Resilience personnel, Business Continuity, Operations, Risk and Audit managers and Non-executive Directors.

Training Approach

 

The course programme will comprise a blend of trainer presentations, group discussion, practical examples and case studies. There will be ample opportunity for questions, experience sharing and networking. All course materials (and refreshments and lunch at in-person events) will be provided.

 

Course Tutor

The course will be lead by Andrew Sheen,who is best know for the 8 years he spent at the UK regulator, firstly in the FSA and subsequently at the PRA. In his time with these authorities he was manager of the Operational Risk Policy Team before moving to head the team responsible for providing Operational Risk subject matter expertise to supervisors. Andrew also represented the UK on the Basel Committee for Banking Supervisors Operational Risk Working Group and the European Banking Authority’s Operational Risk Working Group. Since retiring Andrew has been actively involved in Operational Resilience and is currently advising several banks looking to comply with the UK Operational Resilience requirements.

Course Programme

Session Content
Operational Resilience, governance and roles and responsibilities
  • Operational Resilience and regulatory origins
  • BCBS approach and UK regulatory requirements
  • The importance of Governance
  • The role of the Three Lines of Defence
  • Operational Resilience as an outcome of Operational Risk
  • Linkages to other frameworks and tools
  • Business value of Operational Resilience
Important Business Services
  • What is an Important Business Service?
  • Defining Important Business Services
  • Selection of Important Business Services
  • An assessment methodology to identify IBuS
Impact Tolerances
  • Impact Tolerances – requirements and approaches
  • Relationship to Risk Appetite and Recovery Time Objectives
  • Selecting Tolerance – time only?
  • Setting impact tolerances in practice
Mapping and identifying resources
  • Resources: People, Process, Premises, Technology, Third Parties, Data
  • Mapping requirements and methodologies
  • Relationship to Business Continuity Management, RCSA and process mapping
  • The importance of Third Party risk management
Severe but plausible scenarios and lessons learned
  • Severe but plausible scenarios – requirements and approach
  • Lessons learned and use of internal/external incident data
  • Performing horizon scanning for operational resilience related threats
Communications and annual self assessment
  • Communications: Internal & External
  • The Annual Self Assessment
  • Relationships to existing crisis/incident management
  • Relationship to SMCR and Board Expectations
  • Managing regulatory expectation

This course can be delivered in-house at a time and location to suit your business and tailored to suit your people and organisation. We can also create bespoke training when something very specific is needed.Please contact us to discuss your requirements in more detail and at no obligation.

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