Operational Resilience Software

Strengthen your operational resilience to protect your firm from the impact of unexpected events and operational disruptions.

Operational Resilience software
Build a solid operational resilience programme

Establish a holistic operational resilience programme to keep your organization prepared for unexpected events. Demonstrate compliance with current financial services regulations and respond confidently to everchanging requirements. Evidence that your firm is prepared to detect, prevent, respond to, recover from, and adapt to operational disruptions today and in the future.

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Operational Resilience Requirements

It has been a key priority for the Bank of England (BoE), Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA), collectively “the supervisory authorities,” to put in place a stronger regulatory framework to promote the operational resilience of firms and FMIs. The supervisory authorities published a joint Discussion Paper on Operational Resilience in 2018, setting out an approach to operational resilience. Next, the supervisory authorities published a suite of consultation documents “the consultations” in 2019 to embed this approach into policy. On March 29, 2021, the supervisory authorities published their final policy and supervisory statements “Operational resilience: impact tolerances for important business services.”

Under the consultations proposed requirements, firms and FMIs are expected to:

  • identify their important business services by considering how disruption to the business services they provide can have impacts beyond their own commercial interests;
  • set a tolerance for disruption for each important business service; and
  • ensure they can continue to deliver their important business services and are able to remain within their impact tolerances during severe (or in the case of FMIs, extreme) but plausible scenarios.
Corporater Operational Resilience Software

Corporater Operational Resilience solution is a digital tool developed specifically for financial services institutions (FSIs) in the UK. It enables firms to establish a holistic operational resilience programme — set clear standards for operational resilience in their firm, define important business services (IBS), map out operational dependencies, define maximum tolerable level of disruption to an IBS, assess and test resilience measures, create recovery and crisis management plans, identify gaps, make informed decisions to prevent undesirable risks, and demonstrate compliance with the FCA regulations, including requirements outlined in FCA’s DP18/04.

Corporater enables firms to take a systematic approach to operational resilience, which allows them to establish a solid operational resilience programme and continuously prepare, detect, respond, recover, and adapt to disruptions to important business services.

Corporater systematic approach to effective operational resilience

  • Identify the most important business services (IBSs) and how much disruption could be tolerated in what circumstances
  • Map out the systems and processes that support these business services
  • Assess how failure of an individual process could impact a business service
  • Test using scenarios and experience determine if resilience meets firms’ experience
  • Invest in a capability to respond and recover from disruptions through having appropriate systems, oversight, and training
  • Communicate in a timely manner to internal stakeholders, authorities and customers

Beyond UK

Corporater Operational Resilience software can also be used to manage regulations such as:

  • The Basel Committee on Banking Supervision (BCBS) principles for operational resilience
  • DORA Regulation (EU)
  • Cross-Industry Guidance on Operational Resilience (Ireland)
  • FRB, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency – Sound Practices to Strengthen Operational Resilience (USA)

Corporater Operational Resilience software can be used straight out of the box as a point solution, or in combination with other Corporater solutions to form a holistic GRC program. Built on Corporater Business Management Platform, your solution can be seamlessly extended to other business management areas such as enterprise risk management, compliance management, business continuity management, and internal audit, all within the same system.

Solution Features

  • Intuitive user interface
  • Operational Resilience Dashboards
  • Important Business Services (IBS) mapping
  • Dependency mapping
  • Impact tolerances
  • Automated workflows
  • Scenario testing
  • Process mapping and automation
  • Self-assessment
  • Task management
  • Data integration (automated and manual data input)
  • Data visualisation
  • Automated reporting
  • Document management
  • Alerts and notifications
  • Customizable branding
  • Access control / permissions
  • SSO

Solution Benefits

Establish a solid operational resilience programme

Establish clear lines of responsibility for the management of operational resilience in your firm. Define roles and responsibilities, promote accountability, set expectations, and communicate them across your organization. Define who is responsible for identifying important business services (IBS), and who is responsible for approving impact tolerances set for each of them. Create and maintain a self-assessment document outlining your resilience journey and how your firm is meeting its resilience responsibilities.

Identify your important business services

Identify important business services (IBS) that, if disrupted, could cause intolerable levels of harm to one or more firm’s clients, or pose a risk to the soundness, stability or resilience of the UK financial system or the orderly operation of the financial markets. List out your IBS in digital registers with corresponding impact tolerance.

Map your important business services

Map your important business services (IBS) in digital maps, and evidence that your firm has the necessary people, processes, technology, facilities, and resources required to deliver each of its IBS. Map out interdependencies and interconnections among your IBS, and conduct scenario testing.

Set and test impact tolerances

Set and test impact tolerance of a disruption for each IBS. Define your tolerance threshold (between the points of desired recovery and intolerable harm) for each IBS, and generate impact tolerance statements.

Conduct scenario testing

Test your firm’s ability to remain within its impact tolerance for each of your IBS in the event of disruption. Identify an appropriate range of severe scenarios of varying nature, severity and duration relevant to your business and risk profile, and test their impact.

Create self-assessment documents

Demonstrate compliance to key stakeholders, auditors, and the FCA regulatory body. Create self-assessment documents outlining your firm’s IBS, corresponding impact tolerances, approach to mapping and identification of resources, strategy for scenario testing, and overview of vulnerabilities that pose a threat to the firm’s ability to deliver its IBS within impact tolerances. Generate and export your documents in a variety of popular formats including Word, Excel, PPT, and PDF.

Operational Resilience software
  • SaaS, on premise, or private cloud deployment
  • Industry-leading security for your data
  • Flexible configuration and customization
  • Rapid implementation
  • Ongoing support and innovation

Key Capabilities

Corporater Operational Resilience software comes pre-configured with best practice frameworks, templates, and functionalities needed to establish an effective operational resilience programme.

Custom Dashboards

Go beyond traditional dashboards. Configure custom business dashboards to display relevant information, KPIs, and other metrics. No coding needed.

Risk Planning

Keep your organization prepared for the unexpected with Corporater risk planning and early risk identification.

Risk Identification

Continuously identify risks in various ways — from forms, data integrations, or user input — and record them in a centralized risk register (risk inventory).

Risk Assessments

Analyze, evaluate, and respond to your risks. Corporater supports quantitative, qualitative, and semi-quantitative risk assessments.

Risk Monitoring

Monitor identified, residual and secondary risks, take a corrective action, and measure effectiveness of your response.

Powerful Reports

Generate comprehensive reports in a variety of popular formats, including Word, Excel, PPT, and PDF. Include visual elements such as graphs and risk heat maps.

Risk Register

Build and maintain a centralized risk register (risk inventory) to have a complete and current overview of risks across your organization.

Incident Management

Establish and automate incident management process to minimize adverse impact on your organization. Monitor, report, and resolve incidents.

Alerts & Notifications

Create custom alerts to notify key stakeholders when a KPI moves above or below a specified threshold, when a goal is reached, or when a new issue arises.

Automated Workflows

Automate your business processes and workflows to streamline operations, increase accountability, and ensure adherence to your procedures.

Data Visualization

Visualize your data story with custom-colored charts, graphs, risk heat maps, strategy maps, and more. Add your brand colors and design elements.

Access Control

Assign custom user access based on user role and control user permissions to manage content visibility and access to specific dashboards and features.

Ready to get started? Request your free demo today.

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All solutions built on Corporater Business Management platform can be seamlessly integrated with one another allowing you to start with one solution and scale up later as your needs evolve. With Corporater, the process of scaling up is fast, easy, and non-disruptive to the end users.

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Why top organizations choose Corporater

Deployment of your choice

Select deployment option that fits your needs: SaaS, on premise, or private cloud.

Powerful Data Integration

Integrate data from various sources to have a full picture of your business.

Flexible Configuration

Have it your way – create a solution that fits your specific business requirements.

Rapid Implementation

Get up and running in weeks, not months, with Corporater ready-to-go accelerators.

Industry-leading Security

Corporater is VL5 Veracode Verified and offers the highest level of security.

World-class Customer Support

We are here for you with premium support and continuous innovation updates.

Contact us to schedule your free demo.
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