Operational resilience is usually defined as the ability of an organisation to adapt rapidly to changing environments. This includes both the resilience of systems and processes and more generally the ability of the organisation to continue to operate its business in the event of disruptive events.
This discussion paper looks at:
More recently, the emerging approach of regulators in the UK in particular has taken a broader view of operational resilience, covering all risks to the provision of key business services and focusing increasingly on how the continuity of key business services could be preserved in the event of disruptions occurring. This represents a fundamental shift in how financial institutions in the UK should approach operational resilience.