---
title: "[MTE] [Sep 2024 Q&A] Questions Asked and Answered During MTE From Implementation of Operational Resilience: Global Pains and Learnings"
description: [MTE] [Sep 2024 Q&A] Questions Asked and Answered During MTE From Implementation of Operational Resilience Global Pains and Learnings
---

[BCM Institute | Meet-the-Experts](https://blog.bcm-institute.org/meet-the-expert)

# [\[MTE\] \[Sep 2024 Q&A\] Questions Asked and Answered During MTE From Implementation of Operational Resilience: Global Pains and Learnings](https://blog.bcm-institute.org/meet-the-expert/mte-sep-2024-qa-questions-asked-and-answered-during-mte-from-implementation-of-operational-resilience-global-pains-and-learnings)

 Written by [Moh Heng Goh](https://blog.bcm-institute.org/meet-the-expert/author/moh-heng-goh) | Sep 27, 2024 6:03:00 AM

 

Operational resilience is critical to modern business, especially in the financial sector. It involves an organization's ability to maintain essential functions and services during and after a disruptive event.

This is a summary of questions asked by the webinar participants. Given time constraints, Dr Goh Moh Heng provided the answers.

This blog post provides insights from an expert Q&A session on operational resilience, focusing on common challenges and practical implementation strategies.

In the subsequent two postings, we will summarise the speaker's presentation.

### **Summary: Key Takeaways from the Q&A Session**

#### **Navigating Operational Resilience: Key Takeaways from an Expert Q&A**

##### **Misconceptions and Clarifications**

- **Operational Resilience vs Business Continuity Management (BCM).** While BCM is a component of operational resilience, the broader scope encompasses cyber resilience, third-party risk management, and incident response.
- **The Role of Technology.** Technology is crucial in enabling operational resilience but is not the sole solution. Human factors, processes, and governance are equally important.

##### **Mapping Critical Dependencies**

-   **Identify Critical Business Services (CBS)** and map all essential processes that deliver value to customers and the market.
- **Analyse Dependencies.** Understand the interconnectedness between CBS and supporting functions, such as IT, data, personnel, sourcing, and facilities.
- **Prioritise Risks.** Assess the potential impact of disruptions on each dependency and prioritise accordingly.

##### **Scenario Testing**

- **Develop Realistic Scenarios.** Consider natural disasters, cyberattacks, and economic downturns to create severe but plausible scenarios.
- **Utilise Diverse Testing Methods.** To test resilience, combine tabletop exercises, live simulations, and self-assessments.
- **Focus on High-Risk Dependencies.** Prioritise testing scenarios that involve critical dependencies identified through mapping.

##### **Governance and Roles**

- **Clear Roles and Responsibilities.** Establish clear roles and responsibilities for operational resilience across the organisation's different levels.
- **Collaborative Approach.** Foster collaboration among IT, risk management, compliance, and business operations departments.
- **Centralised Oversight.** Implement a centralised steering committee to provide guidance and ensure consistency.

##### **Third-Party Management**

- **Contingency Planning.** Develop contingency plans for disruptions to critical third-party services.
- **Diversification.** Consider diversifying suppliers to reduce dependence on any single provider.
- **Contractual Obligations.** Include operational resilience clauses in contracts with third parties to ensure their alignment with your organisation's goals.

##### **Additional Takeaways**

- **Standardisation vs. Customisation.** Balance global guidelines with local regulatory and cultural adaptations to achieve a tailored approach.
- **Continuous Learning.** Operational resilience is an ongoing process that requires regular reviews, adjustments, and learning from incidents.
- **Regulatory Landscape.** Stay updated on evolving regulatory requirements and best practices in operational resilience.

#### **Conclusion**

Building a robust operational resilience framework requires a comprehensive approach that addresses each organisation's unique challenges.

By understanding the key factors, implementing effective strategies, and fostering a culture of resilience, financial institutions can enhance their ability to withstand disruptions and deliver critical services to their clients.

Contact Dr Goh Moh Heng if you have any questions.

 

#### More Information About OR-5000 \[OR-5\] or OR-300 \[OR-3\]

They are the \[OR-3\] OR-300 Operational Resilience Implementer course and the \[OR-5\] OR-5000 Operational Resilience Expert Implementer.

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