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Practice paper

Operational resilience towards a global alignment

Alda Bida and Rupesh Nathoo
Journal of Business Continuity & Emergency Planning, 17 (4), 306-322 (2024)
https://doi.org/10.69554/VBCM7161

Abstract

Operational resilience lies between operational risk and business continuity. This paper provides a view on the implementation of the operational resilience framework, and its relationship with operational risk and business continuity. It analyses the similarities and differences between these exercises and how management information from these exercises can be leveraged and aligned. The paper also provides answers to three important questions: (1) What pushed the international regulators to add additional oversight? (2) What benefits and challenges are brought by operational resilience? (3) Why is it important to harmonise operational resilience within the international regulatory landscape?

Keywords: operational resilience; critical functions; technology risks; third-party risk; systems disruption; contingency planning; AI; digitisation

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Author's Biography

Alda Bida is the Operational Resilience Manager for BGC Group, GFI Group and Cantor Fitzgerald Europe. She is responsible for designing, embedding and maintaining a robust enterprise risk and resilience framework across the group, in order to deliver the effective assessment, monitoring and reporting of risks and resilience. Her responsibilities include but are not limited to ensuring that risks relating to resilience, outsourcing, business continuity management, ICT and information security, are identified and tracked, and that the resulting remediation is implemented effectively. Alda has more than ten years’ experience across enterprise risk, operational risk, credit and market risk in the financial services industry.

Rupesh Nathoo is the Business Risk and Controls Manager at BGC Group, where he is responsible for implementing and maintaining a robust risk control framework across the entire organisation. He oversees the risk control self-assessment, risk event management and controls assurance processes. He maintains a consistent operations resilience framework by closely monitoring and reporting on the firm’s important business services, associated risks and operational effectiveness. Rupesh has gained extensive experience over the past 20 years working at leading global banking firms.

Citation

Bida, Alda and Nathoo, Rupesh (2024, June 1). Operational resilience towards a global alignment. In the Journal of Business Continuity & Emergency Planning, Volume 17, Issue 4. https://doi.org/10.69554/VBCM7161.

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cover image, Journal of Business Continuity & Emergency Planning
Journal of Business Continuity & Emergency Planning
Volume 17 / Issue 4
© Henry Stewart
Publications LLP

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