Operational resilience has been a priority for the regulatory community for years. Today, the regulatory focus is on how effectively financial service institutions (FSIs) can prevent incidents and how FSIs can recover from them in the shortest possible time.
The respective authorities are setting requirements and expectations for financial institutions (FIs) to identify their critical or important business services by considering how disrupting their services can impact their consumers, the industry, and the overall economy.
Regulatory authorities expect organizations such as the FSIs to understand their vulnerabilities and invest in protecting the end-users and themselves, their consumers, and the market to preserve the public's interest and retain continuity of supply of products and services, even during operational disruptions.
These are some of the regulations published and are being circulated now. Please click the icon on the right for the latest copy of the regulatory requirement. However, if it is dated, please click the URL for the regulator and search for "Operational Resilience".
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Basel Committee on Banking Supervision (BCBS)
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Bank of England
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Central Bank of Ireland
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International Organization of Securities Commissions (IOSCO)
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European Commission
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Federal Reserve System (FED)
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Australian Prudential Regulation Authority
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Hong Kong Monetary Authority (31 May 2022)
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Monetary Authority of Singapore (6 June 2022)
Operational Resilience and Operational Risk Management - Draft guideline (2023)
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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.