Series 2, Episode 1: Operational resilience at the board room table
Welcome to the first episode of series 2 of Thomson Reuters Regulatory Intelligence’s Compliance Clarified podcast. For the second series we have an overarching theme of threats and particularly external ones – so there will be a recurring focus assessing what compliance functions need to consider which could impact their firm and the required good customer outcomes. In this episode Susannah Hammond is joined by Mike Cowan and Rachel Wolcott to discuss operational resilience, specifically operational resilience at the board room table, why this is an issue now, what the regulators have done and then also what firms need to consider. Below are the links mentioned in the podcast together with an article by Rachel: Speech by Lyndon Nelson, Deputy CEO & Executive Director, Regulatory Operations and Supervisory Risk Specialists at the U.K. Prudential Regulation Authority, entitled ”Operational resilience – outcomes in practice” https://www.bankofengland.co.uk/speech/2021/may/lyndon-nelson-uk-finance-webinar-building-operational-resilience Central Bank of Ireland consultation paper 140 on Cross Industry Guidance on Operational Resilience https://www.centralbank.ie/docs/default-source/publications/consultation-papers/cp140/cp140---cross-industry-guidance-on-operational-resilience.pdf?sfvrsn=5 ). Responses by July, 9 2021. U.K. Financial Conduct Authority Insights from the 2020 Cyber Coordination Groups https://www.fca.org.uk/publications/research/insights-cyber-coordination-groups-2020 Article on UK banks showing more operational resilience understanding https://www.linkedin.com/feed/update/urn:li:activity:6800392346098794496/ Further information on Thomson Reuters Regulatory Intelligence can be found here - https://legal.thomsonreuters.com/en/products/regulatory-intelligence