Insight

Operational resilience: Common challenges in risk management

A survey of financial services firms reveals weaknesses in traditional business continuity plan approaches to crisis management.

Brian Hart

Brian Hart

Principal, Financial Services Risk, Regulatory and Compliance Network Leader, KPMG US

+1 212-954-3093

Paul Fagone

Paul Fagone

Principal, Advisory, FS Regulatory &Compliance Risk, KPMG US

+1 214-213-3560

Anand Desai

Anand Desai

Principal, Advisory, Technology Risk Management, KPMG US

+1 212-872-2139

COVID-19, social unrest, and severe market dislocation have all converged to create the perfect storm. And the limitations of the traditional Business Continuity Plan (BCP) approach to crisis management have highlighted the importance of understanding and planning for multiple events, and the need for an operational resilience approach.

Read about:

  • the limitations created by traditional BCP and siloed approaches
  • the 10 most common challenges to operational resilience
  • what proactive firms do to differentiate themselves
  • our perspective reacting to and addressing challenges.
Operational resilience: Common challenges in risk management
A survey conducted with global and US-based financial services institutions highlights the need to understand and plan for tail end events and their impacts on operational resilience.