Operational risk and operational resilience

Executive summary As regulators focus on Operational Resilience firms need to realign their risk frameworks Without this alignment, firms risk overlaps and gaps in their controls Third parties play a key role in aligning controls and service metrics for your board Fines or excessive cost benchmarks are in store for those that get it wrong


Behavioural monitoring and conduct analytics technology promise to make it easier for firms to detect employee misconduct as well as predict where it might occur next. However, reliance on data- and technology-led solutions may fail to deliver insights and controls, while increasing firms’ exposure to data privacy risks and ethical issues. The emergence of surveillance


The Bank of England and the Financial Conduct Authority (FCA)-convened Artificial Intelligence Public-Private Forum (AIPPF) this month discussed potential accountability and governance frameworks that could form future guidance for the use of AI in financial services. Senior management accountability as well as the creation of a chief AI officer role were contemplated as oversight options,