[OR] [RBI] [11] Mapping of Interconnections and Interdependencies

Mapping of Interconnections and Interdependencies in Operational Resilience

Mapping interconnections and interdependencies is critical to understanding how various organisational elements interact and influence each other. This process involves identifying and analyzing the relationships between systems, methods, and stakeholders within and with external entities. By creating a detailed map of these interconnections, organizations can gain insights into potential vulnerabilities, cascading effects, and the overall resilience of their operations. This understanding is essential for effective risk management, as it allows organizations to anticipate and address potential disruptions arising from complex interdependencies.

Principle 11: Comprehensive Mapping for Critical Operations

To ensure operational resilience, REs (financial institutions) must map the interconnections and interdependencies required for delivering critical operations. This mapping includes internal and external elements and supports the identification of vulnerabilities that could disrupt operations.

Critical Components of Interconnection and Interdependency Mapping

Identification and Documentation

Mapping includes documenting people, technology, processes, information, and facilities.
Interconnections and interdependencies are identified and documented, including those involving third parties and intragroup arrangements.

Leveraging Recovery and Resolution Plans

• Utilizing definitions and frameworks from recovery and resolution plans to ensure consistency.
• Ensuring operational resilience strategies align with organizational mappings of critical operations and third-party service providers.

Granularity and Vulnerability Identification

• The mapping approach should be detailed enough to identify vulnerabilities.
• It supports testing the ability to deliver critical operations through disruptions in line with risk appetite and tolerance.
• Identifying potential vulnerabilities such as concentration risk, single points of failure, and inadequate substitutability of resources.

Group-wide Risk Consideration

• For REs to be part of a larger group, the mapping must account for risks from other group members that could impact operations.
• Ensures readiness to handle severe but plausible disruptions.
• By comprehensively mapping interconnections and interdependencies, REs can better understand and manage the vulnerabilities in their critical operations, enhancing overall operational resilience.

More Information About Blended Learning OR-5000 [OR-5] or OR-300 [OR-3]

To learn more about the course and schedule, click the buttons below for the OR-3 Blended Learning OR-300 Operational Resilience Implementer course and the OR-5 Blended Learning OR-5000 Operational Resilience Expert Implementer course.