Business resilience – CP32/19 and beyond

Operation resilience plans are so important to protecting our business, clients and the industry but making sure that they are maintained to cover recent changes and events can feel like a constant challenge. Especially when you are faced with a Global pandemic and there is so much that needs updating and the situation is evolving weekly.

Therefore, with Covid19 having such an impact not simply on your business, but your clients and the world as a whole it is important that your operational resilience plans have evolved to meet these current demands, as well as ensuring they are future proofed for what could yet come.

Following our successful webinar on Operational Resilience on 16th October, you can take your time to hear and see the content delivered by Stuart Smith, Senior Associate of FSTP.  Whilst the initial focus is for our Insurance and Solvency II clients – any enhanced firm should take note of the of the points and ensure you are ready for any supervisory visit from regulators.

A key aspect of Operational Resilience is the continued delivery of outcomes to consumers and how are you’re ensuring this is being done with the remote workforce?  Have you considered;

Health and Safety of your people – risk assessed their WFH issues and its impact on customer outcomes?
Well being of staff WFH – how are they responding to new vulnerabilities in your customer base as well as dealing with their own?
Customer complaints – are they being handled in a constantly compliant way?
Compliance monitoring – are planned monitoring schedules being adhered to?

(To name but a few!!)

FSTP have a Risk Assessment tool using AI which underpins our Operational Resilience Healthcheck – led by Stuart Smith and other of our Senior Associates it can be adapted for any sector of regulated activity, contact us today to arrange an initial discussion to see if our Healthcheck can help you.

To read more on the importance of operational resilience, especially in today’s climate, follow the link here to read an informative article focussing on CP19/32.

Stuart Bull

Marketing Manager