Operational Resilience in the UK Financial Sector

The chapter discusses the current state of firms in relation to operational resilience in the UK financial sector, highlighting the varying levels of progress and resources among different firms. It explores the step-by-step approach provided by consultation papers for implementing policy statements, focusing on identifying important business services and understanding potential harm caused by service failure. The chapter also addresses challenges such as setting impact tolerances and the importance of involving all parts of the business in the philosophy of operational resilience.