Operational Resilience for non-FS Firms
What can non-FS firms take from FS?
The financial services operational resilience regulations are based on principles and outcomes. As such, there is nothing in them that is specific to the financial sector. At their core, are a handful of principles which guide a firm into thinking in terms of resilience outcomes.
These outcomes build upon existing non-financial risk disciplines, e.g. operational risk, technology risk, third party risk, cyber risk, and set out how to move beyond probabilistic risk management and into the realm of resilience as viewed through the lens of severe but plausible scenarios.
Phoenix Resilience can explain the principles that drive this regulation and how they can be applied to all firms, regardless of their business.
