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Basel Releases Principles for Operational Resilience and Operational Risk

Learn about the implications and how Iceberg Networks and ServiceNow are helping firms manage risk and resilience in real time.

In the era of pandemics, geopolitical unrest, and post-pandemic economic changes “How do we become a more resilient enterprise” is the discussion on the minds of executives across all avenues of business. This conversation has been accelerated in the financial services space with the recent release of the Basel committee guidance on Operational Resilience and Operational Risk (March 2021).

Even if your organization doesn’t fall under the purview of Basel the principles remain applicable across jurisdictions, industries, and geographies.

In this session we will look at the implications of Basel guidance on the following:
• Building an ‘active’ operational resilience framework
• Using indicators across your environment to monitor risk and resilience
• Monitoring for macro level risk while surfacing micro level issues before they become real problems
• Strategies for setting and adjusting risk tolerances
• Turning your dashboards into an actionable navigation tool versus a static report

Operational resilience is the outcome of sound risk management practices. Learn how resilient organizations manage risk and resilience by taking an end-to-end view of critical business across the enterprise. A critical component is the ability to anticipate potential operational disruptions and take actions to prevent, respond, and adapt.

In a truly resilient enterprise, key risk indicators and scorecards are updated automatically in near real time. Risk reporting is driven by continuous monitoring of risk and controls with workflows against your established risk appetite and tolerances. The result is when risk indicators are flagged on your scorecard meaningful action is taken.

Speakers: Michael Murphy, Global Solution Senior Director, Financial Services Compliance, ServiceNow and Andrew Vesay, Chief Strategy Officer, Iceberg Networks
Recorded May 5 2021 34 mins
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Presented by
Michael Murphy, ServiceNow and Andrew Vesay, Iceberg Networks
Presentation preview: Basel Releases Principles for Operational Resilience and Operational Risk

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    Learn about the implications and how Iceberg Networks and ServiceNow are helping firms manage risk and resilience in real time.

    In the era of pandemics, geopolitical unrest, and post-pandemic economic changes “How do we become a more resilient enterprise” is the discussion on the minds of executives across all avenues of business. This conversation has been accelerated in the financial services space with the recent release of the Basel committee guidance on Operational Resilience and Operational Risk (March 2021).

    Even if your organization doesn’t fall under the purview of Basel the principles remain applicable across jurisdictions, industries, and geographies.

    In this session we will look at the implications of Basel guidance on the following:
    • Building an ‘active’ operational resilience framework
    • Using indicators across your environment to monitor risk and resilience
    • Monitoring for macro level risk while surfacing micro level issues before they become real problems
    • Strategies for setting and adjusting risk tolerances
    • Turning your dashboards into an actionable navigation tool versus a static report

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    In a truly resilient enterprise, key risk indicators and scorecards are updated automatically in near real time. Risk reporting is driven by continuous monitoring of risk and controls with workflows against your established risk appetite and tolerances. The result is when risk indicators are flagged on your scorecard meaningful action is taken.

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Iceberg Networks helps organizations make more confident and effective business decisions. We plan, deploy, and manage successful programs for Integrated Risk Management (IRM), providing organizations the framework to achieve trusted, aggregated and transparent risk & security intelligence.

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  • Title: Basel Releases Principles for Operational Resilience and Operational Risk
  • Live at: May 5 2021 6:00 pm
  • Presented by: Michael Murphy, ServiceNow and Andrew Vesay, Iceberg Networks
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