Financial services 40-minute briefingsUnited Kingdom | July 01, 2020 | 08:45 - 09:30 BST
Financial institutions have to deal with two challenges in the face of the COVID-19 pandemic. The first challenge is financial – how to address and mitigate the sharp drop in the value of financial assets or loss of liquidity. The second challenge is operational – how to address the risk of failure of resources (people, processes, technology, facilities and information) and have clear, robust and dynamic plans in place to deliver consistent services to their customers and other stakeholders.
Supervisory guidance on business continuity is typically aimed at restoring business processes after relatively localised short disruptions, such as those caused by cyber and terrorist attacks. Operational disruption caused by the pandemic also poses different challenges in the sense that its impact is global and the duration appears to be at least for months.
In this webinar, lawyers and risk consultants from our financial services practice will provide their views on the following:
- The operational resilience process – mapping, impact tolerances and testing
- Outsourcing and third party supply
- What we are seeing in the market and key pitfalls for which to look
- Our take on the key lessons from various operational incidents across the financial services industry
Who should register?
The webinar is likely to be of particular value to senior and middle management, compliance, risk and legal professionals within all types of financial institutions.
Operational resilience and COVID-19 survey
Our risk consulting team is carrying out a survey to explore how financial institutions are managing their crisis response planning and preparedness in the event of a severe operational disruption, particularly in light of COVID-19.
The survey is relevant to all types of financial institutions globally, particularly CEOs; COOs; board members; senior management; risk and compliance professionals; business continuity teams; general counsel/heads of legal and other key decision makers.
Please complete the survey by midnight on 5 July 2020. The results will be published in a report, on an anonymous basis, once the analysis is completed.