The challenges in determining impact tolerance for operational resilience
Please note that this event is only for BCI Members, if you are a Member please log into your web profile to access the registration link.
Operational resilience is a critical aspect for financial institutions, driven by stringent regulatory guidelines such as those from the FCA and PRA. This webinar, "The challenges in determining impact tolerance for operational resilience. How understanding these challenges improves a firm's operational resilience," will delve into the multifaceted challenges firms face in defining and managing impact tolerance as part of their resilience strategy. We will begin with an overview of the regulatory landscape, highlighting the importance of compliance and its implications for operational resilience. Attendees will learn the fundamental principles of defining impact tolerance, including key metrics and criteria necessary for accurate assessment. Understanding and addressing the challenges associated with impact tolerance is crucial.
This session will cover common hurdles and practical solutions to overcome them, ensuring firms can set realistic and effective tolerances. The role of the Board of Directors will be emphasized, illustrating how leadership and governance are pivotal in establishing and maintaining robust impact tolerance frameworks. A comparative analysis of risk appetite versus impact tolerance will provide clarity on their distinctions and interdependencies, guiding firms in aligning their risk management strategies with their resilience goals. Scenario testing will be explored as a vital tool in assessing impact tolerance, with practical insights on designing and executing effective tests to simulate potential disruptions. Given the increasing reliance on outsourcing and third-party services, we will also examine the challenges and best practices for managing impact tolerance in these contexts. Attendees will gain actionable knowledge on how to ensure their third-party relationships do not compromise their operational resilience. This comprehensive webinar will equip financial institutions with the knowledge and strategies needed to navigate the complexities of impact tolerance, ultimately enhancing their overall operational resilience.
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