The operational resilience challenge
Operational disruptions and the unavailability of Important Business Services have the potential to cause wide-reaching harm to consumers, pose a risk to market integrity, threaten the reputation or viability of firms, and cause instability in the financial system.
The PRA and FCA regulation that came into force on March 31st 2022 laid the groundwork for building improved operational resilience frameworks, alongside outsourcing regulation, into the UK financial sector – with similar work also being undertaken in financial territories globally.
Altus Consulting can support firms in 3 key areas:
1. Operational Resilience assessment toolkit
Altus Consulting have developed a toolkit to support firms to both assess and track the maturity of their current operational resilience plans.
2. Process mapping and evolution
Using our PEAK methodology Altus Consulting can support firms in mapping the key processes involved in the delivery of Important Business Services. This is then used to support the development of more detailed exit planning for the migration of key services during times of operational distress.
3. Contractual provisions, exit plans and step-in partner selection
Altus Consulting can support firms in reviewing Material Supplier exit plans and contractual provisions within outsourced arrangements to ensure alignment with maturing operational resilience plans as well as outsourcing regulations. We will also leverage our deep knowledge of the outsource landscape to help firms identify and engage suitable step-in partners.
Find out more, download our brochure below.
