Guidance for Firm Operational Resilience

The guidance considers the key requirements set out by the UK regulators for implementing operational resilience into firms


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Introduction to the Guidance for Firm Operational Resilience

The Operational Resilience Collaboration Group (ORCG) is a sub-group of the Cross Market Operational Resilience Group (CMORG) – the primary venue for collective action between the private sector and public authorities in the UK’s financial sector.

Established in 2019, the ORCG facilitates collaboration between financial institutions that have a common interest in operational resilience, focusing on shared problems that firms may not be able to address alone.

In response to the initial issuance of new policy requirements for operational resilience from the UK financial authorities in 2021, ORCG had commissioned the development of guidance for its members to assist with interpretation or implementation of these policies. ORCG then agreed at the end of 2022 to commission a refresh of the Guidance. 

Purpose of the Guidance

Following on to the development of the original guidance produced in 2021, this document provides an update to firms on the guidance to implementing operational resilience.

The guidance incorporates the key requirements set out by the UK regulators for implementing operational resilience into firms. The content should be considered as high-level principles that can be used proportionately by a firm accordingly to their size, scale and complexity. It is not intended to be prescriptive or mandatory, but rather to support completion of individual firm documentation that aligns to the organisation’s specific corporate governance requirements and templates.

Defining Operational Resilience

Operational resilience is an ‘organisation’s ability to anticipate, prevent, adapt, respond to, recover, and learn from internal or external disruption, continuing to provide IBS to customers and clients, and minimise any impact on the wider financial system when, not if, disruption occurs’.