The UK regulators made clear their intentions to move operational resilience up their agenda following the joint discussion paper in 2018. The seven themes outlined in the paper placed greater emphasis on recovery and response when incidents occur, rather than just prevention, and now covers all risks to being able to provide critical business services.
Although there are no hard and fast remedies from the regulators yet for firms to adhere to, these are expected, and, as with all regulatory regimes, those who start early will be in a stronger position to their competitors.
To help you prepare and get ahead of the game, we answer the following five questions in our publication, Getting ahead of the game on Operational Resilience:
Do get in touch if KPMG can support you with your preparations for the Operational Resilience regime, or if you have any questions.