Best Practices: Managing Operational Resilience
08 Jan, 2024
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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.
Operational resilience is a strategic investment that safeguards firms
Operational 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
Operational 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
Figure 1. Components of operational resilience
Figure 2. Operational resilience component definitions
Figure 3. Operational resilience regulations and industry guidelines
Figure 2. Operational resilience component definitions
Figure 3. Operational resilience regulations and industry guidelines
GE Aviation, Zoom, UK Prudential Regulation Authority (PRA), Microsoft, Bank of England, International Organization for Standardization (ISO), Automattic, DarkBeam, US Cybersecurity and Infrastructure Security Agency (CISA), Australian Prudential Regulation Authority (APRA), Cisco, Zapier, GitLab, Salesforce, Basel Committee on Banking Supervision (BCBS), BP, Global Association of Risk Professionals (GARP), WordPress, UK Financial Conduct Authority (FCA)
About the Authors
Elizabeth Babalola
Industry Analyst
Elizabeth is an Industry Analyst in the Verdantix Risk Management practice. Her current research agenda focuses on enterprise risk management, risk management information syst…
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Daniel Garcia
Senior Manager
Daniel is a risk and compliance subject-matter expert (SME), with over 16 years of global experience, having worked for major financial institutions and consulting firms in La…
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