[OR] [BDCB] [E1] [C7] Establishing Organisational Goals for Operational Resilience

Chapter 7

Brunei Darussalam Central Bank

Introduction

Operational resilience is not merely a compliance requirement but a strategic imperative for the Brunei Darussalam Central Bank (BDCB).

As the guardian of Brunei Darussalam’s monetary and financial stability, BDCB must ensure that its operations, systems, and services remain robust and adaptable in the face of disruption.

Establishing clear organisational goals for operational resilience provides the foundation upon which policies, procedures, and culture can be built, ensuring the institution’s capacity to anticipate, withstand, respond, and recover from operational challenges.

In accordance with ISO 22316: Security and Resilience – Organisational Resilience, organisations are expected to define objectives that reflect their purpose, responsibilities, and operating environment.

For BDCB, these objectives must align with its statutory mandate under the Brunei Darussalam Central Bank Order, 2010, and its obligation to maintain confidence in the financial system, safeguard monetary stability, and protect consumers.

The resilience goals must therefore balance continuity of critical functions with long-term strategic adaptability.

Linking Organisational Goals with Operational Resilience

BDCB’s operational resilience goals must integrate with its broader strategic mission. The following guiding principles serve as the cornerstone:

1. Safeguarding Financial Stability
   • Ensure uninterrupted delivery of critical financial market infrastructure and payment systems.
   • Protect public trust in Brunei’s financial system by maintaining core central banking functions during disruptions.

2. Strengthening Regulatory and Supervisory Capacity
   • Establish resilience expectations for regulated financial institutions, aligning supervisory frameworks with operational resilience best practices.
   • Ensure oversight processes identify systemic risks early and support sector-wide resilience.

3. Ensuring Continuity of Critical Services
   • Define recovery priorities and acceptable levels of disruption for services essential to monetary policy, payment clearing, settlement, and financial consumer protection.
   • Maintain redundancies, backup systems, and alternate processes for critical functions.

4. Enhancing Organisational Agility and Adaptability
   • Build capacity to respond dynamically to emerging risks, such as cyber threats, pandemics, and geopolitical shocks.
   • Foster a culture of learning and adaptation to anticipate evolving challenges.

5. Promoting Stakeholder and Ecosystem Resilience
   • Collaborate with government agencies, financial institutions, and international bodies to build sectoral resilience.
   • Maintain transparent communication with stakeholders during crises to preserve confidence and stability.

Translating Goals into Measurable Objectives

To operationalise resilience goals, BDCB must convert high-level aspirations into measurable objectives. Examples include:

• Critical Service Continuity: Achieve recovery of priority services within defined Maximum Tolerable Downtime (MTD).
• Technology Resilience: Maintain a minimum uptime target for core IT systems and infrastructure.
• Regulatory Preparedness: Conduct periodic supervisory reviews and industry-wide stress tests to assess resilience capabilities.
• Crisis Management Readiness: Test and validate emergency response frameworks through simulations and exercises.
• Capability Development: Build workforce competence in resilience, crisis management, and emerging risk areas through structured training.

These objectives should be tracked against Key Performance Indicators (KPIs) and Key Risk Indicators (KRIs), with regular reporting to senior leadership and the Board.

Alignment with ISO 22316 and BDCB’s Policy Framework

ISO 22316 highlights that resilience goals should be embedded into an organisation’s governance structure, values, and decision-making processes. For BDCB, this means:

• Governance: Integrating operational resilience goals into strategic planning and board oversight.
• Policy Integration: Embedding resilience objectives into enterprise risk management (ERM), business continuity management (BCM), and information security frameworks.
• Culture: Fostering an organisational mindset that recognises resilience as a shared responsibility across all levels.
• Continuous Improvement: Reviewing and updating resilience objectives in response to changes in the operating environment, regulatory landscape, and emerging risks.

Summing Up …

Establishing organisational goals for operational resilience is essential for BDCB to uphold its mandate as the steward of Brunei Darussalam’s financial system.

By linking resilience objectives to its statutory responsibilities, adopting ISO 22316 principles, and integrating resilience into daily operations, BDCB can ensure it remains prepared for disruptions while strengthening stakeholder trust.

Clear, measurable goals provide the direction and framework to safeguard critical services, enhance adaptability, and build confidence in Brunei’s financial stability in an increasingly complex and uncertain environment.

Operational Resilience in Practice: The Brunei Darussalam Central Bank Approach
Understanding Your Organisation: Brunei Darussalam Central Bank

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