Case Study: Board reluctance to accept full responsibility for Operational Resilience

Background

A COO faced an ongoing challenge in convincing the board to take full legal responsibility for Operational Resilience without detailed understanding and validation of progress to date.

Solution

Aldbury International was approached to help, specifically by validating practices and processes, benchmarking progress, addressing gaps and offering external assurance of progress.

The primary deliverables encompassed:

1. Assessing progress achieved thus far against regulatory benchmarks

2. Identifying and addressing significant gaps

3. Identifying tolerances significantly out of alignment with peer groups

4. Offering external assurance to facilitate Board approval

The process was completed quickly and within the agreed timeframe, enabling the business to adopt best practices well ahead of the March 2025 deadline.

Outcome

The client's Board quickly and enthusiastically endorsed the COO’s work, taking full legal responsibility for the approving the firm's Operational Resilience stance and its wider strategic implications.