Operational Resilience - delivering critical Operations through disruption

OSFI looks to ensure critical operations continued to be delivered through disruptions and expects organizations to:

1. identify critical operations

2. assess critical operations for ability to withstand disruptions

3. estimate financial losses due to disruption

4. map critical operations for dependencies: people, technology, processes, information, facilities, third parties

5. identify vulnerabilities

6. establish tolerances for disruption (maximum an institution can withstand in a crisis

7. perform scenario testing to assess ability of critical operations to persist through disruption within established tolerance (table top exercises, simulations, live systems testing)

Ethidex ASSESS - a flexible application with capabilities you combine, to support Governance, Risk, Control and Compliance assessments can help to meet these expectations.

1.       Build a library of Operations and Identify the Critical Operations using criteria.

2.       Define Tolerance for Disruption, Financial Loss and perform a Resilience Assessment using criteria

3.       Perform Mapping – using libraries you build of people, technology, third parties etc.

4.       Use the data, with filtering and sorting, to support scenario testing and identify gaps and action items.

If you would like to discuss further, please reach out.