Blog

Operational Resilience - The criticality of setting appropriate Impact Tolerances

Last week, around 500 Tesla owners were unable to connect and unlock their vehicles, causing lost hours for many users. Were people left outside in the cold, others unable to go to work or even worse get to the hospital?

Did Elon Musk ever consider this scenario?  Do Tesla think about intolerable harm?  Did they consider Impact Tolerances for customer disruption?

The Tesla scenario is one of many high profile outages from recent weeks (e.g. Santander, Virgin media) and demonstrates  the importance of setting the correct impact tolerance.

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The importance of collating all Business Units into your Operational Resilience plan

With the PRA and FCA's Operational Resilience compliance deadline now less than 5 months away, most in-scope firms are well on the way to building their own Operational Resilience resources and ...

Topics: Featured, Risk Management, Insurance, Banking, Professional Services, Flexible, Talent Solutions, operational resilience

November 9, 2021
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Outsourcing and Third-Party Risk - Understanding your Fourth parties

Managing third-party risk is high on the priority list for financial services firms in 2021, and for PRA regulated firms, the added requirement to comply with the new regulatory regime (SS2/21) means ...

Topics: Featured, Risk Management, Banking, Professional Services, Flexible, Talent Solutions

July 12, 2021
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The FCA's Payments & E-Money wind-down guidance- One year on

The continued fallout involving the payments processor, Wirecard, serves as a timely reminder of the prudential regulatory requirements that came into effect for the UK Payments sector, almost a year ...

Topics: Featured, Risk Management, Banking, Professional Services, Flexible, Talent Solutions

July 2, 2021
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Operational Resilience - 52% of Firms not getting Board Buy-In

With the FCA and PRA's deadline now defined for Financial Services firms to comply with the new Operational Resilience Policy Statement, financial services firms are indicating that they struggle to ...

Topics: Featured, Risk Management, Insurance, Banking, Flexible, Talent Solutions, operational resilience

June 17, 2021
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Operational Resilience- Main Learnings to Date

Intro On 29 March 2021, the Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) published their Policy Statements which include the final rules that in-scope firms will be ...

Topics: Featured, Risk Management, Insurance, Banking, Professional Services, Flexible, Talent Solutions, operational resilience

May 25, 2021
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Free Outsourcing & 3rd Party Risk Management Insight Paper

With the Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA) having released their Operational Resilience and Outsourcing & Third-Party Risk Management (O&TPRM) Policy ...

Topics: Featured, Risk Management, Insurance, Banking, Professional Services, Flexible, Talent Solutions, operational resilience

May 6, 2021
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Outsourcing & Third-party Risk Management – PRA expectations formalised in new statements

On the same day as the Prudential Regulation Authority published their Operational Resilience Policy and Supervisory Statements, the regulator made it a double-header with identical publications for ...

Topics: Featured, Risk Management, Insurance, Banking, Professional Services, Flexible, Talent Solutions, operational resilience

March 30, 2021
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The PRA and FCA release their Policy Statements for Operational Resilience

In line with their promise to deliver a Policy Statement for Operational Resilience by the end of Q1 2021, the FCA and PRA hit a buzzer-beating submission with their outputs this morning. The Policy ...

Topics: Featured, Risk Management, Insurance, Banking, Professional Services, Flexible, Talent Solutions, operational resilience

March 29, 2021
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