08 September 2021
Unless you have been living under a rock for the past year, you will know that regulators have set deadlines for businesses to deliver their operational resilience framework by the first Bank of England deadline of March 2022. Organisations then have three years to transition onto their framework and operate within their defined impact tolerances.
But this is not a fluffy subject. Operational Resilience is a serious and complex matter, and March 2022 is rapidly approaching.
Luckily for you, KA2 has a formulated program to deliver a risk and control framework to ensure that firms can prevent, adapt, respond, recover and learn from disruption events, enabling a dynamic view of ’risk to resilience’.
Using a three-phased approach, KA2 delivers the Smarter Operational Resilience Framework using ServiceNow IRM capability to automate risk and compliance activities across an integrated platform and make it actionable through digital workflows and AI-powered user experiences.
Phase 1: Design and build prototypes to integrate the Operational Resilience Framework requirements into ServiceNow, including the roadmap and dependencies for implementation. Create Service Owner-driven views around the services and potential risks as well as ongoing remediation items.
Phase 2: Design and build prototypes to integrate controls to proactively update, monitor, and maintain the control environment, including the roadmap and dependencies for implementation. Develop the data model and data attributes, creating a consistent target data model that proactively monitors dynamic service and process status to prevent disruption events from occurring.
Phase 3: Design the operational approach and automation of the first line control environment. Design the downstream functional activities and create workflows and dashboards to increase effectiveness and consistency by removing manual processes.
After reading this article, you should have a high-level understanding of how the KA2 Smarter Operational Resilience Framework, designed by our experienced Business Risk and Resilience Consultants, delivers a comprehensive Operational Resilience solution using ServiceNow IRM capabilities.
So now is the time to ask yourself, are you confident that you can deliver your operational resilience framework by the rapidly approaching deadline of March 2022, which is just a short six months away?
If the answer is ‘no’ and you would like to know more about the KA2 Smarter Operational Resilience Framework, please get in touch today and arrange a consultation with one of our domain experts.