Operational resilience fundamentals
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
Embarking on the journey to transform an organisation requires a solid foundation in operational resilience. In this chapter, we explore the fundamentals essential for establishing a robust operational resilience programme within an organisation.
Launching an organisational transformation toward operational resilience requires a thoughtful and systematic approach. To gauge the resilience of your organisation, a comprehensive understanding of the most critical threats and significant vulnerabilities is imperative. Without clear comprehension of your operational ecosystem and its dependencies, the ability to assess your company’s resilience posture remains limited.
Establishing alignment with the risk management aspect of the organisation is important. Although there is no one-size-fits-all approach to managing or measuring resilience, clarity and alignment within the risk taxonomy are pivotal.
Agreeing core principles for operational resilience management and defining clear outcomes that the organisation aims to achieve are fundamental steps in developing a robust resiliency strategy. A principles-driven approach ensures that resilience initiatives are guided by overarching values such
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