Operational Resilience

1. Operational Resilience is the capability to absorb a shock to operations to incremental change to the disruptive events and then rebound to a level of operations that is acceptable to management, employees and stakeholders.

Operational Resilience:

Notes (1): requires an organization to look at risk through a service perspective rather than the current practice which focuses on management by risk category.

Notes (2): includes the resilience of systems, processes and people.

Notes (3): focuses more on actual business processes, such as an entire dealing service (and not only Treasury) for the bank or the assembly line the organization uses to prepare its work product.

Notes (4): is a necessary component of organizational resilience.

Notes (5): is an outcome that benefits from the effective operational risk management.