[OR] [BSP] Summary of the Self-Assessment Questionnaire on the Operational Resilience Framework

Overview of the BSFI’s Operational Resilience

This section outlines the Bank-Supervised Financial Institutions' (BSFIs) comprehensive transition plan for adopting an Operational Resilience (OR) framework in response to the identified gaps and corresponding action plans.

It highlights critical vulnerabilities, including operational gaps, and provides a timeline for their remediation to ensure the institution achieves full operational resilience.

Critical Strategies for Achieving Operational Resilience

This section details the primary strategies that the BSFI will employ to become operationally resilient.

These strategies may involve enhancing governance, improving risk management processes, mapping critical operations, and integrating business continuity management into the broader OR framework.

Challenges Encountered

The institution identifies the challenges and limitations faced during the adoption or execution of its OR framework.

These could include resource constraints, organisational silos, or technological limitations.  The BSFI outlines specific strategies to overcome these challenges and ensure operational resilience.

Board Approval

This section confirms the Board’s approval of the completed Self-Assessment Questionnaire (SAQ), demonstrating leadership commitment to the operational resilience journey.

Additional Remarks

The BSFI may use this section to provide additional information supporting the SAQ or offer further insights into its operational resilience framework and plans.

This summary serves as a final overview and action-oriented guide for professionals to refer to as they develop and implement operational resilience within their institutions.

Summing Up...

The BSFI’s Operational Resilience Plan overview details a comprehensive transition strategy designed to address vulnerabilities and operational gaps within the institution. This section emphasizes the importance of a structured approach to achieving full operational resilience, including a clear timeline for remediation activities.

By systematically identifying key weaknesses, the BSFI aims to enhance its readiness against potential disruptions while ensuring compliance with regulatory expectations.

The challenges encountered during the adoption of the OR framework are crucial for understanding the institution's operational landscape. Resource constraints, organizational silos, and technological limitations can hinder progress, but the BSFI is committed to addressing these issues with targeted strategies.

By recognizing these obstacles and implementing solutions, the institution demonstrates its resolve to achieve operational resilience. The Board's approval of the completed Self-Assessment Questionnaire (SAQ) further solidifies leadership's commitment to this critical initiative. At the same time, additional remarks offer insights into plans, ensuring a proactive approach to resilience in the face of evolving challenges.

BSP Operational Resilience Guidelines

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.

	If you have any questions, click to contact us.