Operational Resilience
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In today’s environment of rapid digital change, growing cyber concerns and outages impacting the financial sector, operational resilience continues to be top of mind for industry executives and supervisory authorities around the world.
Protiviti’s financial services industry subject matter experts developed a framework with which firms can approach and evaluate operational resilience. This framework provides a structure that can be leveraged to help understand, prevent, and recover from extreme-but-plausible events that may impact important business services provided by the organization.
Enhance Your Organization's Operational Resilience
The journey to operational resilience starts with understanding the current state of the firm’s operational resilience and knowing how many existing capabilities can be leveraged to support resilience efforts. Through our offerings, Protiviti experts will partner with you to:
- Assess the firm’s current practices with regard to operational resilience, including an assessment of the foundational elements.
- Analyze existing business services to determine criticality, establish initial impact tolerance methodology and create impact scenarios for business services defined as important.
- Design and implement a resilience program leveraging Protiviti’s framework, with a focus on governance and alignment with foundational elements.
- Address known deficiencies in foundational elements of operational resilience: Business Resilience, Cyber Resilience, Third-Party Resilience, Technology Resilience.
- Challenge existing resilience practices through enterprise wide scenario testing to simulate “extreme but plausible” scenarios impacting important business services of the firm.
- Develop overall operational resilience internal audit plans, ingrain operational resilience into existing audits and provide assurance over the operational resilience program.
Through our global Operational Resilience Command Center we provide our clients with unrivaled market insight, 24/7 on-demand subject matter expert support, and a world class suite of resilience assets and tooling.
Read our blog posts on Operational Resilience
Heard at Ops: The Criticality of Managing Risk with Ron Lefferts, Protiviti
Insights
Board Effectiveness: The Fed’s Guidance Speaks to Resiliency
Operational Resilience: Considerations for Boards, the C-Suite and Enterprisewide Implementation
The Biden Administration: The First 100 Days and Winners and Losers
Regulatory Drumbeat on Operational Resilience Grows Louder with Fed Paper on ‘Sound Practices’
Industry Bodies & Regulators
We have gathered and shared insights in over 100 meetings with industry leaders, regulators, and trade associations.
Through our Premium Associate Membership with SIFMA, we actively engage with committees, share our expertise on crucial industry developments, speak at events, and contribute to SIFMA's global advocacy efforts for effective and resilient capital markets.
Our People & Research
We have invested to build a global team of 50+ resilience experts, with experience across financial services, cybersecurity, business continuity / disaster recovery, risk and compliance, technology, and program management.
Our Command Center works with teams across Protiviti to apply disruptive thinking and develop innovative solutions for resilience challenges.
Market Participants
We have facilitated resilience working sessions and briefings with over 75% of the top global financial institutions.
Our relationships and on-going discussions across the industry allow us unrivaled insight into the challenges, thinking and approaches being used.
Engagement Insights
We use, adapt and develop our accelerators and tooling on each project. We understand and share implementation challenges and lessons learned with our delivery teams and clients.
Through leveraging non-proprietary data points, we are able to shape and share our understanding of regulatory trends, priorities and expectations.
Enhanced Participation with SIFMA
As one of only 11 Premium Associate Members, Protiviti actively engages with SIFMA committees and working groups, share insights and expertise on crucial industry developments, speak at conferences and events, and contribute to SIFMA’s advocacy efforts for effective and resilient capital markets.
Operational Resilience Protiviti Framework
Protiviti’s Operational Resilience Framework identifies the key components firms must consider when formalizing and managing resilience of the critical business services they operate.
