Events

Operational Resilience in the Financial Sector

IAA Banking Virtual Forum: Operational Resilience in the Financial Sector: Practical Guidance

The UK Financial Regulators (Bank of England, Prudential Regulatory Authority and Financial Conduct Authority) prioritize Operational Resilience (OR) to ensure firms can maintain service continuity and support financial markets during disruptions. Firms must establish and test clear service standards, embed OR into daily operations and strategies, and ensure senior management and Boards take responsibility for resilience. With regulations to be fully implemented by March 2025, firms face both challenges and opportunities in interpreting and applying these requirements.

This webinar offers practical guidance and recommendations to help UK-based financial institutions (UKFIs) implement the Operational Resilience guidelines.

The scope includes addressing issues related to the following:
• Overview the latest equivalent operational resilience guidance in other countries and internationally.
• Identify key issues related to risk culture, risk appetite, information technology, tolerance setting, risk modelling, scenario planning and customer-oriented OR.
• Identify a framework for an OR plan based on a thorough understanding of these parameters; design and implement an OR maturity dashboard.
• Recommendations for further action, including enhanced controls and operational risk management frameworks.

Moderator:

Michael Tichareva

Michael Tichareva is a Fellow of the Actuarial Society of South Africa (FASSA) and a Fellow of the Institute of Actuaries (FIA), holding a BCom (Hons.) degree in Actuarial Science and an MBA from Wits Business School, specializing in banking and finance. Michael entered banking in 2008 after initially qualifying as a pensions and employee benefits actuary in 2004. He has practiced in life assurance, pensions, and investments before moving to banking. He is the Executive Chairman & Senior Actuary of Claxon Actuaries International and Chair of the IAA Banking Virtual Forum.

Speakers:

Lawrence Habahbeh

Lawrence Habahbeh is a distinguished actuary and Strategic Risk Advisor with extensive experience. His expertise spans enterprise risk management, market risk, and counterparty credit risk, and he brings a wealth of knowledge in assessing and mitigating complex geopolitical and financial risks. He has a proven track record of developing innovative risk management strategies and tools, leveraging his deep understanding of both market dynamics and geopolitical contexts. His role involves providing strategic insights and solutions to clients, helping them navigate intricate risk landscapes and enhance their resilience.
As a member of the Institute and Faculty of Actuaries, Lawrence plays a leading role in the Risk Management Board and the Operational Resilience Task & Finish Group. His leadership in spearheading the Climate and Sustainability Working Group and the Black Swan Insurance Working Party underscores his commitment to advancing risk management frameworks in response to emerging threats and uncertainties. Lawrence regularly contributes to risk management publications, industry journals, and research studies

Paul Klumpes

Dr. Paul Klumpes is a freelance consultant and retired academic. He was formerly Associate Professor of Accounting at Aalborg University, Professor of Accounting at Abu Dhabi University, Professor of Finance at Nottingham Business School, Professor of Accounting at EDHEC Business School and Imperial College London and Swiss RE Chair of Risk Accounting at the University of Nottingham. He holds a PhD in Accounting and is Fellow of CPA Australia and Honorary Fellow of the UK Institute and Faculty of Actuaries. He regularly contributes to academically refereed journals, other professional journal publications, book chapter contributions and research manuscripts. His current research interests cover the inter-relationship of financial sector institutions voluntary reporting and risk management practices with emerging risks related to climate and nature related financial risks, and cyber-related risk.

05 March 2025
07:00 EST| 12:00 GMT

REGISTER HERE

When

3/5/2025