CMORG was established to improve the operational resilience of the sector through public private management of collective action strategies. The group forms the strategic focal point for sector wide operational resilience discussions and is supported by a number of specialist industry groups. These groups design, manage, and deliver operational resilience improvement projects on a voluntary and collaborative basis.
CMORG operates on the principle that its outputs and interventions should benefit all in the sector, and any of its contingencies or interventions should be accessible beyond its core membership. Those firms directly participating on or within the CMORG structure are expected to act for the benefit of the sector without attribution to their firms.
CMORG is co-chaired by the Executive Director for Supervisory Risk of the Bank of England and the CEO of UK Finance. CMORG membership requires individuals at CRO, COO or SMF24 Chief Operations function level. To ensure the group has a relevant and balanced view from across the sector, CMORG membership will aim to consist of a minimum:
CMORG is supported by the PMO, jointly resourced by UK Finance and the Bank of England. The PMO supports industry’s design and delivery of sector resilience enhancements. This includes secretariat support for its governance, project management and advisory support, and providing the operations that underpin CMORG.
CMORG delivers for the sector through its strategy to improve the operational resilience of the sector
