Operational Resilience Software

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 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 (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 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.

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.

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.