Due to current Coronavirus pandemic, firms have been forced to move to move thousands of employees out of the offices while maintaining, or even increasing, the digital services provided. Some firms were able to tackle this new, unexpected, challenge by upgrading the level of interconnectivity and security, whilst others struggled to deliver the same level. They were not resilient enough.
So, what’s the aim of operational resilience for the financial sector? Simply put: be able to prevent, adapt, respond to, recover and learn from operational disruptions. Set a minimum standard so that the end customers are not negatively impacted by service interruption.
The first deadline is approaching, set at the 31st March 2022, and wealth firms must be ready to dealing with it.