Operational Resilience Working Group

Purpose

The topic of Operational Resilience is increasingly becoming part of the regulators’ requirements. ISSA anticipates that there will be a need for firms to both request, and provide, evidence and attestation around operational resilience standards. The purpose of the Operational Resilience Working Group will therefore be to assist our members understand and deal with future operational resilience requirements.

Scope

The scope of the Working Group will be to explore how a firm can assess and mitigate the impact of operational disruption (excluding financial impacts which were covered in the Recovery, Resolution and Resilience Working Group). The aim will be to ensure that any future processes are aligned, standardized and pragmatic in order to minimize the administrative burden on the industry. 

Key Deliverables

The key deliverables will include:

• Agreeing the basic requirements and determining the outcomes/goals.
• Determining concrete steps that respond to regulatory developments and designing an attestation mechanism (potentially similar to the ISSA FCC Questionnaire).

Key Outcomes

Pending

Reports

tbd

Working Group Co-Chairs

tbd

Institutions represented by Experts in the Working Group

• Aite Novarica
• Cognizant
• Deutsche Börse
• Hong Kong Exchanges & Clearing
• ISSA
• Myriad Group Technologies
• SIX Group
• Strate (Pty) Ltd