Operational Resilience in Economic Uncertainty

Vivienne Bannigan

Operational Resilience in Economic Uncertainty

by Vivienne Bannigan
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The London Governance & Compliance Academy is excited to announce the below upcoming Online LIVE Course that will provide you with practical knowledge and in-depth understanding on this specialised subject.

Course Overview – Background

In December 2019, the Financial Conduct Authority (FCA) and the Prudential Regulatory Authority (PRA) published a joint Consultation regarding Operational Resilience. Operational Resilience is defined by UK Regulators, as a firms’ ability ‘to prevent, adapt, respond to, recover and learn from operational disruptions.’ Boards of regulated organisations are under increasing pressure to respond to difficult questions about how they provide oversight over business models, risk-taking, strategy and long-term business sustainability. Firms’ culture and governance are pivotal to building public trust and confidence in the UK’s financial services industry. The extension of the Senior Managers and Certification Regime (SM&CR) will ensure key staff are accountable for their conduct and decisions.

There are calls for increased transparency by regulated organisations to ensure the effectiveness of communication within the business which facilitates the cascading of information and instructions, and this includes effective reporting. Boards are requested to identify critical business services and map delivery back to the essential underlying resources; ensure that there is testing to ensure that the firm can withstand a severe event; and finally, check the results to identify resilience gaps – for example make investment choices that increase their ability to provide business as usual even under a severe disruptive event.

Moreover, increased consumer detriment can arise when authorised firms default or exit the market. Poor records and ineffective segregation procedures create a slower, costlier and more uncertain outcome for the customer and associated reputational damage to the Financial Conduct Authority (FCA) and United Kingdom financial markets.

Schedule 

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Date: 

October 21, 2020 

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Time: 

09:00am to 10:30am

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Duration: 

1.5-hours

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Price: 

£110 + VAT 

 

Learning Objectives What you will learn 

This two – hour online workshop will aim to consider the following:

  • Develop an awareness of current financial services industry trends and practices concerning operational resilience;

  • Identify challenges facing firms in the current environment including legal and regulatory, risk and strategy, stakeholders, sustainability and communication;

  • Identify practical elements and technical knowledge around conduct and culture about integrity, treating customers fairly and the management of client money and assets; and

  • Assess early signs of Regulatory and Operational Risk related explicitly to operational resilience.

WHO SHOULD ATTEND

This workshop will be of benefit to anyone who is likely to be affected by the challenges in maintaining operational resilience, including Board members, senior management, legal, compliance and those employees at the coalface.

 

BOARD BRIEFING STYLE AND TIMINGS

Workshops are participative. The presentation will combine key formal presentations, case studies and syndicate discussion sessions. There will be opportunity for delegates to benchmark experiences with their colleagues and raise issues of most concern to their organisation, either confidentially or in open session.

 

Who is Vivienne Bannigan

Vivienne is a financial services professional with over 20 years’ experience in regulatory and operational risk in the United Kingdom, Europe and internationally. Vivienne has held various roles across several organisations including the Financial Conduct Authority (FCA), Royal Bank of Scotland and UK Finance. Vivienne has worked in wholesale policy covering the Market Abuse Regime, Markets in Financial Instruments Directive (I & II), Securities lending, Client Money , Transaction Reporting and mentoring her colleagues along the way. Vivienne designed and implemented training and communications to support programme delivery, including the Markets in Financial Instruments Directive and Client Money and Assets. Vivienne holds various qualifications including an M. Econ. Sc. in European Economics and Public Affairs. Vivienne is an accredited Dispute Resolution Mediator and is completing an MA in Community Psychology at the University of Brighton. Vivienne is passionate about sailing and supporting individuals to achieve their potential while at the same time, creating an environment that is professional, practical and participative.

Additional Details

Price - 90

Duration - 1.5

 

Date And Time

21-October-2020 - 09:00 to
- 10:30
 

Location

 

Venue

Live Online Course
 

Event Category

online

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