Best Practices: Managing Operational Resilience
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Executive Summary
In an increasingly dynamic and interconnected business landscape, the pursuit of operational resilience has become paramount. Operational resilience is evolving from reactive business continuity and disaster recovery planning to a more dynamic approach, embedded as part of overall business strategy. Developing an operational resilience framework that not only meets regulatory requirements but enables a firm to preserve business integrity requires executives to promote an integrated view of risk management across their organization. This report leverages insights from interviews conducted with industry experts. It can be used by executives seeking to upgrade their operational resilience strategies to preserve the value of their business against future disruption.
Table of contents
Operational resilience is a strategic investment that safeguards firmsOperational resilience transcends business continuity
Operational resilience delivers tangible and significant benefits
Keeping abreast of mandatory regulations and guidelines is a complex task
Best practices for managing operational resilience
People are the backbone of resilient operations
Data are the basis of shatterproof operational resilience
Technology is an enabling tool for operational resilience
Table of figures
Figure 1. Components of operational resilienceFigure 2. Operational resilience component definitions
Figure 3. Operational resilience regulations and industry guidelines
Organisations mentioned
Australian Prudential Regulation Authority (APRA), Automattic, Bank of England, Basel Committee on Banking Supervision (BCBS), BP, Cisco, DarkBeam, GE Aviation, GitLab, Global Association of Risk Professionals (GARP), International Organization for Standardization (ISO), Microsoft, Salesforce, UK Financial Conduct Authority (FCA), UK Prudential Regulation Authority (PRA), US Cybersecurity and Infrastructure Security Agency (CISA), WordPress, Zapier, ZoomAbout the authors
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