Bernadine Reese and Tom Lemon, Protiviti Managing Directors
The operating environment for financial firms has changed significantly in recent years. IT outages and cyber attacks — some of which have been very high profile — as well as increasing reliance on third parties through outsourcing and offshoring arrangements are transforming the risk environment and presenting significant risks of harm to customers and the stability of markets.
This article outlines six key actions firms should be taking to support and evolve their approach to operational resilience. These actions were discussed at a Protiviti event held in London in late November 2018, which brought together UK regulators, industry professionals and Protiviti subject-matter experts.