Operational Resilience: Reserve Bank of India's Guidance Note on ORM and OR Series
OR BB RBI Guidance Notes 1

[OR] [RBI] [0] Table of Content RBI Guidance Note for Operational Risk Management and Operational Resilience

The RBI’s guidance emphasizes the critical importance of effective change management in mitigating operational risks. Financial institutions must establish a comprehensive change management process that involves all relevant departments and is supported by adequate resources. This process should thoroughly assess potential risks associated with changes, such as new products, systems, or markets.

The guidance reinforces the role of the three lines of defence in managing change. The first line is responsible for initial risk assessments, while the second line provides oversight and challenge. The third line independently reviews the change management process. To ensure adequate control, institutions should maintain detailed records of products and services and regularly monitor changes for any unexpected risks.

Ultimately, the RBI expects financial institutions to prioritize change management as a key component of their operational risk management framework to enhance overall resilience and protect against potential losses.

Moh Heng Goh
Operational Resilience Certified Planner-Specialist-Expert

BL-OR-3-5 Blog Under ConstructionIntroduction to RBI's Guidance Note on Operational Risk Management and Operational Resilience

New call-to-actionThe Reserve Bank of India (RBI) has recently published a pivotal Guidance Note on Operational Risk Management and Operational Resilience, dated April 30, 2024.

This comprehensive document marks a significant step in fortifying the financial stability of banks and financial institutions, drawing from global best practices and lessons learned from past crises.

These 19 individual blogs are intended to elaborate on the content for each Annex. They are developed to support the participants attending the operational resilience implementer and expert-level training courseware specifically for those assigned to meet the Reserve Bank of India (RBI) Guidance Note on Operational Risk Management and Operational Resilience requirement.

This training will lead to an international certification for Operational Resilience. 

Note that the author's additional comments do not represent the central bank's view. They are meant to align the participants' views with the other OR policies issued globally.

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