As all in the industry are aware, the Bank of England, FCA and Federal Reserve Board have been discussing recommendations for Operational Resilience since 2019.
Whether we like it or not, Operational Resilience is coming: the first deadline of 31st March 2022 is approaching rapidly.
If it’s true that firms have coped well with disruptive changes so far, now it is time to implement and strengthen their Operational Resilience plans to future-proof businesses against whatever lies ahead.
There’s a feeling that the current situation is not secure or sustainable, and that firms may fail to serve their clients properly, with a lack of accessibility to their services. This could directly harm their customers, and indirectly the whole financial sector.
