New layers of risk and complexity call for holistic, collaborative and cross-border responses.
As a vast majority of the financial industry's workforce continues working remotely, organizations are operating in entirely new ways. No one could have predicted at the end of last year that a global pandemic would impact the world's workers in 2020 and force millions of financial services staff, 以及其他行业的员工, 进入远程工作环境.
These changes have added layers of risk and complexity to the financial industry ecosystem, magnifying the importance of operational resilience, or the ability of firms to continue to provide critical services in the face of adversity.
Operational resilience has evolved significantly over the years. Although resilience was once focused on siloed risk management areas such as cybersecurity and information technology, operational resilience encompasses additional areas including financial risk, 基础设施的稳定性, 供应商的风险, vnsr威尼斯城官网登入管理, security and technology — enabling a more holistic view into risk and resiliency. It calls for all parts of an organization to work collectively across the financial industry and across national borders.
甚至在COVID-19之前, operational resilience was viewed as a key priority across the industry, 正如福布斯- bmc白皮书所记载的那样, vnsr威尼斯城官网登入的未来. 去年年底对300名美国人进行的一项调查显示.S.美国vnsr威尼斯城官网登入业的高管, 44% were actively training employees in resiliency protocols to ensure and address potential regulatory issues related to business resilience.
When asked about the measures firms could take to address business resiliency challenges, most respondents (49%) highlighted an emphasis toward industry collaboration with peers. 也, 37%的人建议增加审计和评估, and 37% mentioned the need for clearly defined resiliency ownership within firms.
前瞻性的指导方针.
At 存, we view operational resilience as a key business and industry priority. The increasingly complex financial services environment requires a new approach to enhancing resilience that is holistic, 前瞻性和高度协作性. Our Resilience First white paper outlines a set of guidelines to help drive further advancements around how firms plan for and respond to disruptive events that could impact critical business services. 它们包括:
- A firm's business resilience planning should be holistic. 在规划, firms should consider key dependencies and potential vulnerabilities across all areas of the business globally, 包括操作, 技术和财务风险. Firms should conduct an end-to-end analysis of critical services, 客户活动, 第三方依赖项和所有接触点.
- Resilience should be embedded into an organization's risk culture and mindset in order to drive improvements in risk and response management. Establishing a “resilience centric” culture and mindset emphasizes a shared approach and common objectives supported by and governed by the board and senior management; encourages employees to change the status quo to address weaknesses and risk; and creates a continuous learning mindset.
- To make informed business decisions around resilience, 持续评估是关键, Firms should determine resilience objectives which should help drive the re-architecting of existing services, 以及新vnsr威尼斯城官网登入的设计.
- Finally, as resilience-enhancing initiatives are implemented, industry coordination will be critical. 继续, 正在进行的, sector-wide collaboration will be necessary to ensure all firms understand their roles and are ready to mitigate the impact future disruptions to critical business services. 我的工作 CPMI-IOSCO is undertaking around cyber resilience is a great example of this. 在他们的一个工作小组内, the organization has asked for the industry to look at issues across sectors such as communication, data protection and third-party concerns in order to best identify how we can work together to get even better and stronger.
截至9月下旬，该公司 世界卫生组织 报告超过32例.全球新增700万COVID-19病例. The pandemic cannot be understated in its current impact and long-lasting ramifications. 随着我们在2020年最后几个月的进展, we must stay focused on the fundamental principles of resilience while adapting to changing market and business conditions, as well as new threats and advances in technology.
The pandemic remains a top threat to operational resiliency across the industry, 但是在很多方面, it is no different than previous crises that prompted an unprecedented industry response, 比如9/11和超级风暴桑迪. We must continue to place operational resilience on the top of our priority lists, addressing the challenges of today and ensuring we are well prepared for those future events that are sure to come.
本文最初发表于 GARP.