OPERATIONAL RESILIENCE, A KEY REGULATORY FOCUS
Darren Maher, partner: "The continued fall
out from COVID-19 has resulted in resiliency, now and into the
future, being placed high on the agenda of businesses worldwide and
financial services has been no exception. Alongside the increased
industry focus on resiliency, we have seen an equally strong
regulatory focus, at both a domestic and international level, on
operational resilience and in particular, digital resilience. This
is a trend which we can expect to continue into 2022 and
beyond.
At an Irish regulatory level we have seen operational resilience
feature in several outputs of the Central Bank of Ireland
("Central Bank"), including its 2021
regulatory priorities, its Consumer Outlook Report for 2021, and
several speeches made by its senior members. This culminated in the
publication of the Central Bank's Cross Industry Guidance on
Operational Resilience ("OR Guidance")
in recent weeks. Additionally, the
