Operational Resilience inertia set in for many firms amid competing priorities, and they spent Q1 2023 remobilising their Operational Resilience programmes to get through the 2023 self-assessment process. In refreshing the programme and taking a view on how to gear up for the 2025 deadline, firms have accepted that developing maturity is essential in creating resilient operations that protect the firm, and the firm’s customers.
For firms remobilising their programmes, and looking for direction on maturity activities between now and 2025, we suggest two good places to start:
This article delves into a proposed strategy for developing a Target Operating Model, in conjunction with our previous piece on the review process.
The Target Operating Model should be created collaboratively with the business to ensure that it reflects the desired end state, covering governance, structure, roles and responsibilities, integration with other protective disciplines, processes, programme efficiencies, people and culture, and an annual programme of resilience activities.
The end state Target Operating Model should align with regulatory requirements, internal strategy and desired resilience maturity and enable:
The Target Operating Model should be informed by your review, and you should start by working with the business, to:
That strategic vision provides your North Star to 2025 and creates the necessary parameters to start developing the Target Operating Model.
Considerations for inclusion in your Target Operating Model should be: