Operational Resilience doesn’t just begin and end with a great management team, a tried and tested business continuity plan or a seasoned IT system, it must also promote a culture of awareness.
The FCA and PRA define operational resilience as the ability of financial services firms and the financial services sector to “prevent, adapt, respond to, recover, and learn from operational disruptions”. Learning is the key here if you want your organisation to successfully respond to that disruption.
Organisations should look to embrace adversity as the “norm” rather than the “exception”, by doing so they create a continuous learning experience that allows them to test and refine their business models. This in turn leads to a state of operational readiness that both encourages a culture of prevention and awareness and allows firms to focus on identifying weaknesses and areas of vulnerabilities.
To do that, an organisation must invest in all levels of their workforce from the CEO down. Resilient cultures begin with leaders who understand and support building resilience at the individual and organisational level. All of us can benefit from becoming more resilient, making us better able to face a crisis, recover, and adapt.
Organisations should help empower employees to create the ethos of “we are all in it together” and help them “create organisational awareness”. The key is to keep testing, learning and adapting to create a healthy resilient organisation.
If you would like to know more about how Aldbury can help you achieve this now through a GHOST exercise:
7-day lead in time – quick flash to bang
Half day on site, minimal disruption
Crisis capability enhanced through plan activation
Crisis Team cohesion improved by team building exercise