Operational Resilience Working Group
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 3rd 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.
Frequently Asked Questions
We will develop an FAQ section here as responses and questions are raised.
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.
| June 2021
| September 2021
| December 2021
| March 2022
Providing Comments or Feedback to the Working Group
Your comments, feedback and questions are not just welcomed, but essential. Tell us what you like, what you don't like, or what you don't understand!
As a result of feedback we will
1. respond individually where possible,
2. update the FAQ where appropriate,
3. update the guidance where necessary