Best Practices: Managing Operational Resilience
Daniel Garcia
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
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, Zoom
About the Authors
Elizabeth Babalola
Senior Analyst
Elizabeth is a Senior Analyst at Verdantix, where she delivers in-depth research to support corporate executives in strengthening operational resilience, optimizing insurance ...
View ProfileDaniel 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...