Operational Resilience Working Group
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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 will be updated periodically, when there are sufficient changes or revisions to make updates worthwhile. They will be version controlled and published here.
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:
- help share a sense of all being in it together and not alone, especially across common services
- 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
- 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.
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.