Podcast: Developments in operational resilience

  • 13 July 2021

"[Operational resilience] is a really important risk management development in the financial services industry...I think we're all aware that the risk environment, particularly the non-financial and operational risk environment, has become ever more complex in recent years.
Steve Bishop, Head of Risk Information & Insurance, ORX

The latest episode of the ORX Operational Risk Podcast is now available. You can either listen through Apple PodcastsSpotify or anywhere else you get your podcasts from (search for 'The ORX Operational Risk Podcast' to find us). Or, you can listen to the episode online.

About the episode

"One of the concepts that operational resilience brings in is really thinking more broadly and thinking about the market that you operate in – thinking about the customers that you service and need to protect as well – so I think we're seeing a big shift in the thought process around risk management here to accompany this."
Steve Bishop, Head of Risk Information & Insurance, ORX

In this episode of the podcast, Steve Bishop, Melanie Lavallin and Luke Carrivick discuss the work being done in financial services to develop and implement approaches to operational resilience. They look at the challenges faced by financial firms around the world. They also look at how scenarios and the scenario framework can be used to test and support operational resilience.  

"Where people have started writing and building these scenarios for testing operational resilience, what they're actually finding is as they map their services – which is a requirement – the mapping naturally lends itself to those stories. So, when they map their services they need to think about things such as the tools, the processes, the people, but also the third parties – so across that end-to-end service where do your third parties operate? Which part of the service do they actually process for you?
Melanie Lavallin, Senior Research Manager, ORX

This podcast follows the publication of a recent report which is available exclusively to our members – Progressing operational resilience. This report is partly based on the activities and discussions held with our Operational Resilience Working Group, which has been running since 2020.

Listen to the full episode for more

Our podcast is available on Apple PodcastsSpotify or anywhere else you get your podcasts from (search for 'The ORX Operational Risk Podcast' to find us).

Or, listen to this episode and previous episodes online

Related resources from ORX:

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