IDEAS home Printed from https://ideas.repec.org/a/cup/bracjl/v30y2025ip-_25.html
   My bibliography  Save this article

Operational resilience in the UK financial sector: practical guidance

Author

Listed:
  • Chanon, Robert Daniel
  • Habahbeh, Lawrence
  • Klumpes, Paul J. M.
  • Mann, Suky

Abstract

This paper provides practical guidance to UK-based financial institutions (UKFIs) that are subject to the “operational resilience” guideline requirements of the Bank of England (BoE), Prudential Regulatory Authority and Financial Conduct Authority, issued in 2021, and fully effective for 31 March 2025. It contains practical suggestions and recommendations to assist UKFIs in implementing the guidelines. The scope of the paper covers issues related to (a) overviewing the latest equivalent operational resilience guidance in other countries and internationally (b) identifying key issues related to risk culture, risk appetite, information technology, tolerance setting, risk modelling, scenario planning and customer oriented operational resilience (c) identifying a framework for operational resilience based on a thorough understanding of these parameters and (d) designing and implementing an operational resilience maturity dashboard based on a sample of large UKIFs. The study also contains recommendations for further action, including enhanced controls and operational risk management frameworks. It concludes by identifying imperative policy actions to ensure that the implementation of the guidelines is more effective.

Suggested Citation

  • Chanon, Robert Daniel & Habahbeh, Lawrence & Klumpes, Paul J. M. & Mann, Suky, 2025. "Operational resilience in the UK financial sector: practical guidance," British Actuarial Journal, Cambridge University Press, vol. 30, pages 1-1, January.
    • Handle: RePEc:cup:bracjl:v:30:y:2025:i::p:-_25
    as

    Download full text from publisher

    File URL: https://www.cambridge.org/core/product/identifier/S1357321725100202/type/journal_article
    File Function: link to article abstract page
    Download Restriction: no
    ---><---

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:cup:bracjl:v:30:y:2025:i::p:-_25. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Kirk Stebbing (email available below). General contact details of provider: https://www.cambridge.org/baj .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.