Strengthening Operational Resilience in Financial Services

For financial services firms, risk management is a responsibility that is both constantly expanding and relentlessly evolving. Ever since the financial shock of 2007-2008, global finance ministers and regulators have continually raised the standards for risk management and have included more and more areas in their definitions of covered activities. 

Regulators and the market in general have come to recognize that an increasingly complex, interconnected and expansive financial services ecosystem requires that risk management expand dramatically beyond purely financial measures to include the whole of the operation and the ecosystem in which it exists. 

Starting with the current state of regulation and digging in to see the similarities and differences between geographic regions and where the regulators are focusing their attention, we can then examine the challenges and approaches to managing this difficult subject. In the end, a picture of where the issue of operational resilience is headed will come into focus.