Operational Resilience Working Group

 Latest News

 
21 Oct - Operational Resilience Working Group and related groups structure.


Terms of Reference

The Working Group fulfilled its original objectives in the publication of guidance to the market.  Starting from April 2021 it will continue its work for the next 12 months under a new terms of reference  which will focus on:

  • approach to third parties : brokers, coverholders, DCAs
  • approach to common service providers : DXC, PPL, LIMOSS, and others
  • market-wide framework: market testing, supervisory, engagement of third parties
  • responding to feedback and questions to the guidance as firms begin or continue their own OpRes planning
  • continue with market benchmarking of progress and playing this back to managing agents 
  • work with the LMA Virtual Academy to help develop market training.
Members of the Working Group are listed here.  It is Chaired by Rachel Oliver (Brit)

Guidance Section

Guidance will be updated periodically, when there are sufficient changes or revisions to make updates worthwhile.  They will be version controlled and published here.

   Regulatory documents  
  FCA - Building Operational Resilience PS21/3   
  PRA - Operational resilience: Impact tolerances for important business services SS1/21  
  Operational Resilience: Impact Tolerances for Important Business Services  
  PRA Outsourcing and Third Party Risk Management PS7/21  
  Statutory Instrument 2021 /14  
  LMA Response FCA CP19/32     
  LMA Response PRA CP29/19  
   
 
   Launch Event  
 

The Operational Resilience Working Group launched guidance to the market on 29th April 2021. 

 Link to the presentation  & Link to the Video

 

 
   Guidance document  
   Operational Resilience Working Group Guidance document v1.0 290421  
  Version Control:
Current Version - v1.0 published 29th March 2021
 
   
Artefacts to the Guidance document
 
  Self Assessment PowerPoint Summary Page Template  
  Self Assessment Excel Template  
  Important Business Services Mapping Document - updated July 2021  
   Important Business Services - Selection Criteria and Scoring  
  ORCG Scenario Testing Guidance v1  
     
  Working Group deliverables  
  Operational Resilience Working Group deliverables - 1st July 2021  
     
   Other documents  
 NEW  Operational Resilience Working Group and related groups structure  
     


Operational Resilience Forum

There are ~100+ members of the forum representing 45 managing agents, a list of members can be found here

The OpRes Forum is to:

  1. help share a sense of all being in it together and not alone, especially across common services
  2. provide a sounding board for ideas and current thought processes and approaches to OpRes and Q&A of peers – how have others approached certain aspects of OpRes so far
  3. an opportunity for the Working Group to provide informal progress and outputs updates, and also listen, to get feedback and direction.

Please use the link in the top right-hand-side of this page to join the Forum.

Market Benchmarking 

The Working Group has/will publish surveys to the market on a quarterly basis through to March 2022 and publish the results here to allow members to compare their relative progress against peers. 
March 2021  Results  
 June 2021  Results
 September 2021  Results
 December 2021  
 March 2022  
 

Contact us

Matt Wood
Head of Technology

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Frequently Asked Questions

Questions raised with the Working Group are answered in the FAQ webpage.