Operational Resilience.
Helping firms identify important business services, manage disruption risks, and meet regulatory expectations.
Operational Resilience requires standards and protocols that ensure you can continue to support your customers and deliver your services, even when your operational infrastructure is under intense pressure.
The FCA expects all Digital Finance firms to have robust and responsive plans to deal with unexpected service disruption decisively and to minimise harm to customers. Effective communication and resolution planning are fundamental.
PREPARE FOR THE UNEXPECTED.
As industry experts in Digital Finance, we understand the challenges you face when placing reliance on third party services. We can help you map your critical dependencies and important business relationships, and assess the impact of your current protocols against your product delivery obligations. We help you plan for the unexpected, be organised and deliver for your customers.
We have the experience to guide you through the assessment process and rationalise the response you need, to ensure continuity of your products and services, even in the toughest of circumstances.
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RELIANCE
Identifying and understanding your critical third-party dependencies and important business relationships are crucial for effective response planning. We can help you prepare for unexpected business interruption and in turn, stabilise your services.
REQUIREMENTS
We know what the regulator expects from you and can help you ensure that you meet the highest standards, and that the FCA’s expectations become a reality in your business operation.
RESOLUTION
We can provide a quality assurance assessment that will identify areas of weakness and suggest resolution planning. We can help with your customer communications planning and ensure you meet the highest regulatory expectations.
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FREQUENTLY ASKED QUESTIONS
Find answers to the questions we’re asked most often, from our compliance and training services to how we can support your business.
What is operational resilience and why does it matter for regulated firms?
Operational resilience is the ability of a firm to prevent, adapt to, respond to, recover from, and learn from operational disruptions. For FCA-regulated firms, particularly those in digital finance, operational resilience is a regulatory requirement and a critical component of maintaining customer trust, protecting stakeholders, and demonstrating sound governance.
What are the FCA's operational resilience requirements?
The FCA requires firms to identify their important business services, set impact tolerances for the maximum level of disruption they can tolerate, and test their ability to remain within those tolerances under severe but plausible scenarios. Firms must also have clear communication and resolution plans in place to minimise harm to customers in the event of a disruption.
What are important business services under the FCA's operational resilience framework?
Important business services are the services that a firm delivers to customers or the market whose disruption could cause intolerable harm. Identifying these services requires firms to map the people, processes, technology, facilities, and third-party dependencies that support them, assessing the potential impact of disruption at each point.
How should firms manage third-party dependencies under the operational resilience framework?
Third-party dependencies are a significant source of operational risk for many digital finance firms. Firms must identify and assess the resilience of critical third-party relationships, understand the potential impact of third-party failures on their important business services, and ensure that contractual arrangements support their operational resilience obligations.
How can Cosegic support our operational resilience programme?
Cosegic helps firms map critical dependencies and important business relationships, assess the impact of current protocols against product delivery obligations, and develop detailed operational plans for managing disruption. Our expertise in digital finance operational resilience ensures firms are organised, prepared for the unexpected, and able to deliver for their customers even in the most challenging circumstances.