Firms and senior management must keep up with rising regulatory
expectations, be ready to co-operate and be prepared to proactively
offer redress where appropriate
Six years on from the Basel Committee on Banking
Supervision's (BCBS's) consultation on the implications of cloud
computing and other technologies for banks and banking supervision,
what we now refer to as operational resilience has matured into a
more comprehensive regulatory policy covering business continuity,
incident management, critical supplier management, and more, in
many jurisdictions and across financial services.
As well as developments in regulatory policy, the sources of
likely disruption – from the profile of cyber threats to
geopolitics – shift continuously. Firms must continue to look
ahead. Insights into regulatory expectations and practical examples
of what regulators focus on when things go wrong come from
enforcement actions, which are therefore a useful source of lessons
for
