Operational Resilience in the UK Financial Sector: Practical Guidance

Paul John Marcel Klumpes; Robert Chanon; Lawrence Habahbeh; Suky Mann

Operational Resilience in the UK Financial Sector: Practical Guidance

Paul John Marcel Klumpes, Robert Chanon, Lawrence Habahbeh, Suky Mann

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Abstract

This paper provides practical guidance to UK-based financial institutions (UKFIs) which are subject to the “operational resilience” requirements that are fully effective for 31 March 2025. The paper first overviews the latest equivalent operational resilience guidance in other countries and internationally. It then identifies key issues affecting UKFI operational resilience and presents a framework for implementing a system of operational resilience. Evidence is then provided concerning the degree of operational resilience maturity for a small sample of large UK banks, asset managers and insurance firms. The study also recommendations policy actions to enhance the effectiveness the operational resilience of UKFIs.

Original language	English
Journal	British Actuarial Journal
Number of pages	41
ISSN	1357-3217
Publication status	Published - 2024

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title = "Operational Resilience in the UK Financial Sector: Practical Guidance",

abstract = "This paper provides practical guidance to UK-based financial institutions (UKFIs) which are subject to the “operational resilience” requirements that are fully effective for 31 March 2025. The paper first overviews the latest equivalent operational resilience guidance in other countries and internationally. It then identifies key issues affecting UKFI operational resilience and presents a framework for implementing a system of operational resilience. Evidence is then provided concerning the degree of operational resilience maturity for a small sample of large UK banks, asset managers and insurance firms. The study also recommendations policy actions to enhance the effectiveness the operational resilience of UKFIs.",

author = "Klumpes, {Paul John Marcel} and Robert Chanon and Lawrence Habahbeh and Suky Mann",

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AU - Habahbeh, Lawrence

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N2 - This paper provides practical guidance to UK-based financial institutions (UKFIs) which are subject to the “operational resilience” requirements that are fully effective for 31 March 2025. The paper first overviews the latest equivalent operational resilience guidance in other countries and internationally. It then identifies key issues affecting UKFI operational resilience and presents a framework for implementing a system of operational resilience. Evidence is then provided concerning the degree of operational resilience maturity for a small sample of large UK banks, asset managers and insurance firms. The study also recommendations policy actions to enhance the effectiveness the operational resilience of UKFIs.

AB - This paper provides practical guidance to UK-based financial institutions (UKFIs) which are subject to the “operational resilience” requirements that are fully effective for 31 March 2025. The paper first overviews the latest equivalent operational resilience guidance in other countries and internationally. It then identifies key issues affecting UKFI operational resilience and presents a framework for implementing a system of operational resilience. Evidence is then provided concerning the degree of operational resilience maturity for a small sample of large UK banks, asset managers and insurance firms. The study also recommendations policy actions to enhance the effectiveness the operational resilience of UKFIs.

M3 - Journal article

SN - 1357-3217

JO - British Actuarial Journal

JF - British Actuarial Journal

ER -

Operational Resilience in the UK Financial Sector: Practical Guidance

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