Defining metrics is key to a successful operational resilience programme and BAU governance.
Through the mapping phase, firms should identify the key processes and resources that underpin an Important Business Service, and from there identify metrics in the five pillars (data, facility, people, 3rd party, technology) that compose each service.
To create a meaningful set of metrics, firms must cover 3 fundamental steps:
It is useful to organise a workshop with pillar owners to understand how to measure the defined resilience gap and how to reach the target level.
Topics to consider in the workshop are:
If you'd like to hear more about how we are providing support to financial services clients when defining their metrics, please get in touch here
FourthLine is working with financial services clients to help them achieve compliance and react to the challenges of operational resilience, through a mixture of consulting and resourcing propositions.
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