
UK authorities finalise operational resilience approach
Summary of the Bank of England, PRA and FCA’s consultation papers on building operational resilience and impact tolerances for important business services.
As firms develop their approaches to the new draft operational resilience regime (following the UK regulators’ consultation papers issued in December 2019), there is an understandable focus on defining business services. Determining which are your important business services is the critical first step in applying the draft policy requirements. It sets the scope for the rest of the work as it is these services which need to be mapped, need to have impact tolerances set for, and will be subject to scenario testing.
In the reports below, we take a detailed look at the practical steps firms need to take to define their business services, and to overcome common challenges.
For more background on the proposed regulatory approach to operational resilience you can read a summary in this PwC hot topic.
Summary of the Bank of England, PRA and FCA’s consultation papers on building operational resilience and impact tolerances for important business services.
Find out what how policy expectations for operational resilience and OCIR fit together
Joint report with TheCityUK to define and identify the key threats to operational resilience and recommendations to help ensure the UK remains a world-leader in FS