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Operational Resilience FAQs
Discover how Operational Resilience strategies can help your business adapt to disruptions.
Building a Resilient Organization
Learn how Operational Resilience helps businesses adapt, respond, and recover from disruptions while maintaining critical functions and services.
Operational Resilience FAQs
Resilience is the ability to bounce back from challenges or disruptions, maintaining function and stability during tough times.
Business resilience is the capacity of an organization to adapt, recover, and continue its operations when faced with challenges, ensuring long-term success.
Operational resilience is the ability of an organization to deliver critical operations during and through a disruption.
An operational risk is the potential for financial loss within a business due to failures in internal processes, people, systems, or external events, essentially meaning the risk of loss arising from inadequate or failed internal operations, including human error, system glitches, or external disruptions like natural disasters.
Operational risk management (ORM) is a continual cyclic process that includes risk assessments, risk decision-making, and the implementation of risk-based controls, which results in acceptance, mitigation, or avoidance of risk. ORM is the oversight of operational risk, including the risk of loss resulting from inadequate or failed internal processes and systems, human factors, or external events.
The Digital Operational Resilience Act (DORA) is a European Union regulation that aims to improve the resilience of financial institutions to digital threats.
An important business function refers to a critical area of operation within a company (such as Finance, Marketing, Human Resources, Operations, or Sales) that is essential for the successful running and overall health of the business.
An important business service is a service that is provided to an external customer where if disrupted, it could pose a risk to the customer, economy, or firm’s viability.