{"id":63644,"date":"2023-11-10T06:52:09","date_gmt":"2023-11-10T06:52:09","guid":{"rendered":"https:\/\/lgca.uk\/?post_type=event_listing&p=63644"},"modified":"2023-11-10T06:52:09","modified_gmt":"2023-11-10T06:52:09","slug":"operational-resilience-260324","status":"publish","type":"event_listing","link":"https:\/\/lgca.uk\/el\/\u03b3\u03b5\u03b3\u03bf\u03bd\u03cc\u03c2\/operational-resilience-260324\/","title":{"rendered":"Operational Resilience"},"content":{"rendered":"

Course Overview\u00a0<\/strong><\/p>\n

One of the ways in which regulators assess their performance is by measuring whether consumers get the products and services they need and want from firms they can trust.\u00a0 Principle 6 (of the Principles for Business) and the subsequent 6 Treating Customers Fairly Outcomes explicitly call out the obligation to pay due regard to our customer\u2019s needs and for products and services to perform as reasonably expected.<\/p>\n

Yet things can and do go wrong \u2013 and regulators remain concerned that Financial Institutions are not doing enough to identify where this might happen or to remedy weaknesses in their businesses which allow this to happen.<\/p>\n

This course explores the FCA and PRA proposals, explains the requirements and considers how we in firms can deliver a more resilient operational framework to deliver on what our customers and clients expect.<\/p>\n

 <\/p>\n\n\n\n\n\n\n
Date<\/td>\n\u00a026 of March 2024<\/td>\n<\/tr>\n
Time<\/td>\n13:30 – 17:30 UK Time<\/td>\n<\/tr>\n
Duration<\/td>\n4 hours<\/td>\n<\/tr>\n
Price<\/td>\nGBP 474 (incl. VAT)<\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

Training Objectives<\/strong><\/p>\n

By the end of the programme, participants will:<\/p>\n

 <\/p>\n

\u2022 Understand the regulatory drivers and priorities<\/p>\n

\u2022 Recognise the milestones and timelines to full compliance<\/p>\n

\u2022 Consider the factors you should promote to build an inclusive operational resilience framework that staff can buy into<\/p>\n

\u2022 Provide a foundation for your in-house strategies<\/p>\n

\u2022 Understand the criteria by which you can identify important business services<\/p>\n

\u2022 Recognise common risks and disruptors to operational stability<\/p>\n

 <\/p>\n

Training Outline\u00a0<\/strong><\/p>\n

Session 1: Introduction \u2013 the regulatory position<\/strong><\/p>\n

\u2022 FCA and PRA positions \u2013 risks to regulatory objectives<\/p>\n

\u2022 Where we are now and how we got here<\/p>\n

\u2022 Looking forward to March 31 2022 \u2013 what are the expectations and timelines<\/p>\n

\u2022 Key milestones and practical validation requirements<\/p>\n

\u2022 Rules or guidance \u2013 specific firm applicability<\/p>\n

Case Studies: Issues at British Airways, O2, TSB Bank, HSBC (customised to client)<\/strong><\/p>\n

Session 2: Governance & Strategy<\/strong><\/p>\n

\u2022 Messaging \u2013 more than \u201cEveryday Business Continuity\u201d<\/p>\n

\u2022 Prevent, Adapt, Respond, Recover, Learn<\/p>\n

\u2022 SM24 responsibilities and broader SMCR integration<\/p>\n

\u2022 Roles for all leaders, line of sight to senior management<\/p>\n

\u2022 Leadership in a hostile cyber environment<\/p>\n

Session 3: Building an effective and compliant operational resilience program<\/strong><\/p>\n

\u2022 Identifying key business services<\/p>\n

1. Definitions<\/p>\n

2. Single activities \u2013 not groups<\/p>\n

3. Criteria for consistent assessment<\/p>\n

4. Alignment with other business themes<\/p>\n

\u2022Setting impact tolerances<\/p>\n

1. Identifying Risks and Disruptors<\/p>\n

2. Probability \/ Impact \/ Control Effectiveness<\/p>\n

3. Value-based \/ Volume-based \/ Time-based<\/p>\n

4. Quantifying the maximum tolerable level of disruption<\/p>\n

5. Addressing both FCA and PRA concerns<\/p>\n

\u2022 Understanding upstream \/ downstream dependencies by identifying and documenting:<\/p>\n

1. People<\/p>\n

2. Processes<\/p>\n

3. Technology<\/p>\n

4. Facilities<\/p>\n

5. Information<\/p>\n

\u2022 Ongoing management<\/p>\n

1. First Line – Monitoring \/ Surveillance<\/p>\n

2. Second line – Testing<\/p>\n

3. Scorecards \/ Dashboards \u2013 what, how, where<\/p>\n

4. Stress testing \/ Scenario modelling<\/p>\n

5. Annual review \/ Material change<\/p>\n

Exercise \u2013 Breakout Rooms \u2013 Groups to discuss challenges and opportunities in building an effective program using templated handouts<\/strong><\/p>\n

Session 4: Holistic management considerations<\/strong><\/p>\n

\u2022 Links to Business Continuity \/ Disaster Recovery<\/p>\n

\u2022 Front, middle and back office \u2013 connecting the lines to benefit consumers<\/p>\n

\u2022 What actually happens when business services are disrupted \u2013 roles and responsibilities<\/p>\n

\u2022 Communication plans \u2013 internal and external<\/p>\n

\u2022 Employees \u2013 engage, empower, evolve<\/p>\n

\u2022 Documenting effective self-assessment and lessons learned<\/p>\n

Course Wrap-up:<\/strong><\/p>\n

\u2022 Summary<\/p>\n

\u2022 Questions<\/p>\n

\u2022 Open forum<\/p>\n

 <\/p>\n

Industry Expert | Steve Fairclough<\/strong><\/p>\n

<\/p>\n

Steve began his financial services career in 1993 and has over 20 years practical training experience across a range of sectors and topics.\u00a0 He is a former Head of Education for HSBC covering the UK and Europe, responsible for regulatory and financial crime related compliance learning.\u00a0 His time at HSBC was during intense scrutiny from regulators and government functions during the bank\u2019s Deferred Prosecution Agreement.\u00a0 Other roles include leading the Monitoring and Testing programme for a UK Wealth Manager, and Senior Vice President responsible for Global Risk & Compliance training at a US-based bank.\u00a0 He also worked in the Insurance Firms division at the Financial Conduct Authority (in the FSA days) where he was the divisional expert for the rules and outcomes required under the Training & Competence handbook.<\/p>\n

The HSBC role, along with five years at Barclays in their Private Clients and Wealth functions, has seen Steve work with retail, commercial, wholesale and private banking channels.\u00a0 Since leaving HSBC, Stephen has worked with the compliance, HR and operational teams of firms to enhance their regulatory understanding, as well as delivering content across private equity firms, investment houses, banks and wealth managers.\u00a0 He regularly delivers core programmes for TISA and the Investment Association.<\/p>\n

Steve is a former member of the Investment Management Association Training & Education Committee and won the Thomson Reuters award for \u201cMost Effective Compliance Training at a Regulated Firm\u201d in 2010.<\/p>\n

 <\/p>\n

Who Should Attend\u00a0<\/strong><\/p>\n

PRA and FCA have differing application criteria though in the main, banks, building societies, PRA-designated investment firms, RIEs and \u2018Enhanced\u2019 SM&CR firms will have rules mandated.\u00a0 That said, the FCA\u2019s expectation is that all firms will have properly tested contingency plans and it is considered likely that the rules will apply as guidance for Core SM&CR firms who are solo-regulated.<\/p>\n

Relevant staff roles include Risk and Compliance, Operational Oversight and Management plus those in Business Continuity and Disaster Recovery who will have crossover responsibility for operational resilience.<\/p>\n

 <\/p>\n

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