As part of their Operational Resilience compliance programme, a well-known International Investment Platform provider needed expert guidance to define and map their Operational Resilience framework in line with the FCA's regulatory expectations.
FourthLine Consulting supported the client with an Enablement programme, followed by a Quality Assurance exercise.
Before engaging with FourthLine, the client spent 6 months bringing their risk management, disaster recovery and business continuity policies together under a new Operational Resilience framework. They also identified their important business services (IBS). They then had 6 months before the regulators’ March 2022 deadline to move from non-compliance to Operational Resilience compliance and to get board sign-off.
The client had to make numerous structural changes in terms of roles and responsibilities. They realised they needed an external expert to help them on the journey to compliance. They wanted to ensure that they were following a good methodology, and were consistent in delivering an Ops Res framework that was on par with their industry peers.
The key milestone of the project was to get board approval for the new Operational Resilience framework and have the self-assessment ready before the March 2022 deadline.
Because of FourthLine’s support and guidance, the board approval process was relatively straightforward. The board approved the project and self-assessment document with minimal changes needed and within the timeline set by the regulators.