Show, don’t tell, on op resilience – Fed examiner
Banks warned of “disconnect” between theory and practice on resilience planning by NY Fed’s op risk expert
Banks in the throes of drawing up a playbook for how to cope with a repeat of the coronavirus pandemic or disaster of a similar sweeping magnitude need to make sure first-line employees understand it and could implement it at short notice, a senior bank examiner has warned lenders.
“I’ll be disappointed if I go into a firm, and resiliency people show me graphs and PowerPoints, and then I go to senior management or people on the front line and they can’t explain it. If I see a disconnect between
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