Debate: Embedding the regulatory principles of Operational Resilience

Operational Resilience: Challenges and Trends across APAC

Detailed Agenda
  • What have the other region’s regulators put in place to date?
  • How have some of the APAC regulators chosen to address the topic?
  • How APAC Banks & Asset Managers are currently addressing the requirements
      • Country-by-country/regional/global approach?
      • Establish a project, or implement as part of BAU?
      • Engage an external Consultant?
      • Functional ownership?
      • Establish a dedicated business-wide Ops Resilience function, with the relevant functions reporting in to, or have an overarching framework & ongoing oversight over all the relevant functions?
      • Relevant functions being: Compliance, Risk, Business Continuity, Information Security, Supplier Mgmt.
  • What are the common themes if choosing to satisfy requirements at a regional/global level?
      • Pretty much all regulations are “principles based”, which means it’s ultimately up to you how you want to interpret and comply with the regulations within your business, and then the regulators will decide later whether you’ve complied.
      • Implementation exercise:
          • Identify “critical” operations (people/processes/systems/Suppliers)
          • Mapping interconnections and interdependencies
          • Set impact tolerances
          • Perform scenario testing
          • Implement initial improvements
          • Implement ongoing governance oversight framework
      • Governance framework.
      • Operational risk mgmt.
      • Business Continuity planning & testing.
      • Supplier dependency mgmt.
      • Incident mgmt.
      • Information and communications technology, including information security.
  • What the optimal approach might me
      • All approaches can work, and not work – depends how well you execute on the chosen approach.
      • Depends on your regional/global coverage.
      • Depends on your ability to allocate a single owner.
      • Depends on the current state of your Compliance/Risk/Business Continuity/Supplier Mgmt/Information Security functions.

Consumer Duty – A Hot Topic

Terry Yodaiken, Armstrong Wolfe Advisor The July 2023 deadline for firms to have completed effective implementation for the FCA’s Consumer Duty initiative is fast approaching and exactly where asset managers are in their implementation journey’s is a hot topic.  To...

Converging Paths: The Synchronicity of Product Visionaries

In the realm of innovation, where revolutions unfold, it is crucial to comprehend the profound significance of design.Design is not about mere appearances; it is the fusion of aesthetics, functionality, and human experience. Our duty as pioneers of the digital age is...

Management challenges within hybrid working

Hybrid working has become the pyramidal battleground between the authority of the company to define its working patterns and the right of the individual to select their own. This point of tension rests upon an understandable, although some would say aged corporate...

3 of 24 things on the Control Officer’s mind

1. What’s in a name? 2. Can you measure culture? 3. Emerging technologies 1. What’s in a name? Within the continued evolution of controls and 1st line risk management, some banks are renaming their control function, risk management. Most say it would make sense to...

Workforce Management: Caught in the hybrid cul-de-sac

The honeymoon period for hybrid working is over, the hopes of a new epoch in working practices has hairline cracks, and companies that embraced this new dawn are facing difficult decisions. It is too simplistic to draw a line mid-Atlantic to define where banking and...

Mental Health Forum Summary – UK Mental Health Week 2023

The use of data to manage stress and mental health in the workplace is crucial for maximising productivity. In 2022, Armstrong Wolfe launched an ESG data management programme with our alliance partner Sutherland. From this programme, we concluded three things: Many...

The role of the COO in developing and implementing ESG strategies

Armstrong Wolfe are looking to establish the current roles and responsibilities of the COO where they relate to managing and interacting with their organisation’s ESG strategy, and to offer a possible framework of solutions to facilitate productive ESG management. In...

24 Things on the CCO’s Mind

Q1 Chief Control Officer Survey: What are the 3 top things you wish to debate with your peers in Q2 2023? In March 2023 iCOOC members participated in a Control and Business Risk survey. Despite a pressing need to adapt operating models and securing funding to further...

Creating High Performance Teams by Enabling Effective Followership

Q1 iCOOC Forum Summary - Creating High Performance Teams by Enabling Effective Followership Character has, throughout history, been one of the most prominent factors in determining the attributes of a good leader. Yet modern leaders are often disconnected from this...

Algo Trading Forum – Mifid 2 RTS 6 Annual Self-Assessment

Armstrong Wolfe Markets iCOOC Forum: Algorithmic Trading The management of risks surrounding the use of Algo Trading by banking corporations is a complex process, and in many places the industry has self-identified this process to be resource intensive, overly complex...