Operational Resilience for Compliance, Operations, Risk and Front office

The UK Regulators regard Operational Resilience as a major regulatory initiative to ensure regulated firms are able to provide resilient services to their clients and to support the financial markets.

Operational Resilience is basically the ability of firms and the financial sector to prevent, adapt, respond to, recover from, and learn from operational disruptions. Firms must assume, from time to time, disruptions will occur which will prevent firms from operating as usual and see them unable to provide their services for a period.

Firms need to set clear standards for the services they provide and test their ability to meet those standards. Firms are required to review their existing approaches and make improvements where necessary.

Firms are expected to embed Operational Resilience in the day-to-day operations, changes to infrastructure and in their strategies and business plans. Their senior management and Boards are expected to take responsibility for the firms’ resilience.

The regulations published early last year kicked off major projects within the industry which need to be delivered by the end of March 2022. Because of the nature of the in-principle regulations, much is left to firms to for interpretation and implementation.

This poses both opportunities and challenges to management and particularly to Boards and NEDs who are expected to be able to understand the regulatory requirements and to judge whether their firms will be compliant.

This three hour interactive workshop will equip you with next steps to understand the regulatory requirements regarding Operational Resilience and the practical steps needed to help build your resilience.

Key learning objectives

• Understand the responsibility of the Board and senior management regarding the effective Operational Resilience framework which includes crisis management.
• Assessing if there is a proportionate and effective cross-functional response team to manage the resilience plans
• Understanding how the key elements comprise Operational Resilience
• Considering Operational Resilience from a client’s perspective and common pitfalls
• Understanding the importance of positioning of critical resources, Accessibility to critical systems – including remote access, operational solutions and substitutions, Level of service to customers and channels used to deliver those services
• How to gain confidence that the plan has been fully and robustly tested, the firm’s have capabilities to maintain adequate communications with stakeholders (Customers, staff and regulators) and whether this has been tested for vulnerabilities
• Confirming that the impact tolerances reflect your customers’ needs

09:30

Industry best practices on identifying Important Business Services (IBS), setting Impact Tolerances (ITs) and documenting the methodologies within the Operational Resilience Framework

10:15
Outsourcing and third party supplier management for Op Resilience purposes
How to address vulnerabilities identified during the stress testing exercises and how to remediate these during the transition period

11:15 Break

11:30
Suggested structure and content for the Self-Assessment document
Key areas to focus during the transition period

12:30 Conclusions and next steps

• Heads of Risk
• Heads of Compliance
• Heads of Operation
• Heads of Regulatory Change
• C-Suite (in particular Chief Operations, Risk and compliance)
• Non-Executive Directors

IA Member £545.00 +VAT
Non-Member £395.00 +VAT

Pay using a credit card online, or if you wish to be invoiced please email your full details to: Training@theia.org

PLEASE NOTE: Full payment for the course must be made prior to the course commencement date.

• Any cancellation must be made in writing.
• For all cancellation received 15-30 days prior to the course start date, 50% of the course fee is still payable.
• No refund is given for a cancellation made 14 days or less prior to the commencement of a course.
• Transferring from one course to another is treated as a cancellation. You can substitute one delegate for another at no additional cost. In this instance, please give two business days’ notice.

Hybrid Training Courses:

Hybrid deliveries of our training allows participants on our courses the option to attend in-person here from our offices at Camomile Court, or you can attend virtually via MS Teams.

Please be advised a training course could change from hybrid delivery to solely virtual delivery. In such an event, we will inform delegates at least one week prior to the course delivery date.

There are a limited number of in-person spaces available on this course and this will be allocated on a first come first served basis.

Priya Prakash

Priya is a proven subject matter expert for operational resilience. Priya has developed and led cohesive cross-geography teams across multiple clients to implement operational resilience regulatory requirements. She is an expert in setting up customised resilience (including third-party assurance / scenario testing / BCP) programmes for large multinational firms to align with their wider risk requirements and meet their overall organisational goals. Priya is highly adaptable in various client environments with proven senior stakeholder engagement experience.

As part of the Lloyds Working Group and Forums, she analysed challenges faced by managing agents with respect to resilience. Priya provided guidance on interpreting regulatory statements and developing methodologies to carry out each phase.