Operational Resilience: Beyond the Checklists
First published:
ISBN: 9781782724568
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Facets of operational resiliency
Facets of operational resiliency
Acknowledgements
Abbreviations
Glossary
Foreword by Mike Campbell
Foreword by Raj Sardana
Preface
Introduction
What is operational resilience?
Facets of operational resiliency
Driving business value
How to approach operational resilience
Operational resilience fundamentals
Getting organised around operational resilience
Regulation: Reshaping the financial industry
Understanding impact tolerances: How severe is severe?
Scenario testing: What are severe but plausible scenarios?
Connecting the dots: Resilience, risk and resolution
How resilient are you? The supply chain imperative
Intersection of operational resilience, ESG and climate risk
Artificial intelligence and the transformation of operational resilience
Case study: Covid-19 and the transformational shift in resilience
Closing thoughts: The impact of operational resilience
Appendix: toolkit and guide
Endnotes
References
Operational resilience encompasses several critical facets that collectively fortify an organisation against various threats and disruptions. Understanding these facets not only helps to understand their individual importance, but also highlights their interconnectivity in enhancing an organisation’s overall resilience. Looking at these components collectively can also provide a comprehensive view of their resilience posture.
DEFINING OPERATIONAL RESILIENCE
This chapter will define each of the components, and provide examples to demonstrate their distinctions and nuances (see Figure 2.1). Let’s begin by understanding the difference between operational and financial resilience.
Differentiating between operational resilience and financial resilience
It is important to understand the difference between operational resilience and financial resilience. While financial resilience focuses on the fiscal soundness and risks within an organisation, operational resilience is more about the sustainability, viability, and associated risks pertaining to service delivery. Despite their differences, however, both contribute to an organisation’s overall robustness and sustainability. Notably, the
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