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Client Challenge
Following an initial Operational Resilience maturity assessment, the client, a specialist exchange, engaged TORI to conduct an Operational Resilience remediation review to cover the critical elements related to their governance framework, including; critical business services, risk metrics and tolerances, and dependencies with internal stakeholders and third-party suppliers.
The mandate involved reviewing the existing Operational Resilience framework, updating policies and standards, governance structure, end-to-end process mapping of important business services, an assessment of supplier contracts, and recommendations for MI reporting and dashboards.
The deliverables included, inter alia; revised Operational Resilience framework, policies, governance structures, end-to-end process mapping, contract assessments, and resilience reporting linked to critical business services.
What We Did
- Revised the Operational Resilience Policies and Standards to align with the resilience plan, enhancing consistency and compliance.
- Developed a governance and reporting structure, improving accountability and oversight.
- Mapped end-to-end processes for Important Business Services (IBS), enabling better identification of risks and dependencies.
- Assessed contracts and SLAs with critical suppliers, providing clarity on potential gaps and remediation plans.
- Designed a Resilience Dashboard and reporting process, facilitating efficient monitoring and decision-making.
Outcome & Results
- The client gained improved Operational Resilience alignment with resilience standards, ensuring better preparedness for disruptions.
- The client gained an enhanced governance structure, providing clearer oversight and accountability.
- Greater visibility into critical processes, enabling proactive risk management.
- Identification of supplier-related gaps, supporting targeted remediation efforts.
- Streamlined reporting through dashboards, enabling faster and more informed decision-making.
