The BCI has released its latest survey report, the Operational Resilience Report 2022. Sponsored by Castellan Solutions, this examines how organizations understand operational resilience while taking a look at the steps they have taken to achieve it.
Key findings include:
- More than three-quarters (78 percent) of surveyed organizations have or are developing an operational resilience programme.
- Operational resilience take-up is not limited to the financial sector: whilst regulation is a primary driver for operational resilience programmes, good practice is encouraging take-up amongst the broader market.
- 71 percent of organizations are confident they have identified their important business services correctly, but less than two-thirds are confident their impact tolerances can be met.
- Just one in five UK financial services institutions which fall under the regulation believe the regulators have done enough to help organizations implement operational resilience.
- Although larger organizations have the funding and capacity to support building a dedicated operational resilience team, for smaller organizations, business continuity professionals are commonly those who are directed to manage operational resilience programmes.
- Most professionals have experienced challenges to introducing operational resilience into their organizations, with knowledge being the primary inhibitor.