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In April 2019, the European Supervisory Authorities advised the Commission to propose targeted improvements to the EU financial regulatory framework to develop a single regulatory and supervisory rulebook for ICT (Information Communication Technology) operational resilience in the financial sector. Moreover, in December 2019, the Financial Conduct Authority (FCA) and the Prudential Regulatory Authority (PRA) published a joint Consultation regarding Operational Resilience.
Operational Resilience is defined by UK Regulators, as a firms’ ability ‘to prevent, adapt, respond to, recover and learn from operational disruptions.’ It is becoming increasingly important across the global financial services markets that Boards of regulated organisations are in a position to respond to difficult questions about how they provide oversight over business models, risk-taking, strategy and long-term business sustainability. Firms’ culture and governance are pivotal to building public trust and confidence in the EU’s financial services industry.
By attending this programme participants will:
- Develop an awareness of current financial services industry trends and practices concerning operational resilience
- Identify the difficulties and challenges across a spectrum of areas
- Identify practical elements and technical knowledge around conduct and culture about integrity, treating customers fairly and the management of client money and assets
- Assess early signs of Regulatory and Operational Risk related explicitly to operational resilience
- Definition – what is operational resilience?
- It’s importance to the financial services industry
- The challenges professionals and their firms face
- The current environment
- Legal and regulatory
- Risk and strategy
- The stakeholders
- The Customer and the importance of culture and behaviour
- Signs of regulatory and operational risk
- Q & A
The presentation will combine key formal presentations, case studies and syndicate discussion sessions. Workshops are participative and there will be opportunity for participants to benchmark experiences with their colleagues and raise issues of most concern to their organisation, either confidentially or in open session.
This programme may be approved for up to 2.5 CPD units in Financial Regulation. Eligibility criteria and CPD Units are verified directly by your association, regulator or other bodies which you hold membership.
Who should attend
This workshop will be of benefit any professionals who is likely to be affected by the challenges in maintaining operational resilience, including Board members, senior management, managers, legal, compliance as well as front line employees.