Firms are 6 months away from the FCA’s policy deadline. Here’s an update on what we’re doing now to help businesses like yours put their Operational Resilience policy in place, which should hopefully shed some light on where your firm should be in its process…
Knowledge
In anticipation of the March 2022 deadline, our specialists have been running webinars to promote and build understanding of the new Operational Resilience regulatory framework.
Feedback
Aldbury International has been providing feedback to regulators on common concerns and implementing issues.
Checks
Our Operational Resilience consultants have been sense-checking clients’ internal project teams’ interpretation of new regulations.
Schedules
We have been identifying key programme milestones and pace-making “on schedule” progress to meet the March deadline.
Validation
The Operational Resilience policy stipulates that firms must set Impact Tolerances for the maximum tolerable disruption. We have been designing “severe but plausible scenarios” to validate the impact tolerances.
Simulations
The disruptions caused by COVID-19 prove why it is critical for firms to invest in their resilience and prevent operational disruptions, which can negatively impact customers, firms and cause instability in the financial system. So, we have been running crisis simulations and exercises, to identify any vulnerabilities in companies' operational resilience.
What next?
Aldbury International are very knowledgeable and experienced in helping firms through this process. To discover how we can help your organisation comply with the new Operational Resilience policy from the FCA, contact the team on 0203 475 2953 or email enquiries@aldburyinternational.com.