Join us on Monday 5 September to find out more about the upcoming critical third party regime and how both the financial services and technology sectors are responding to operational resilience challenges.
Last year, the Prudential Regulation Authority (PRA) published the Supervisory Statements SS1/21, pertaining to operational resilience, and SS2/21, pertaining to outsourcing and third-party management, have set the tone to what the regulators expect from financial services firms and the expected increased scrutiny.
These new rules have been set to tackle the new risks and challenges to ensure operational resilience and acknowledge the changes in the financial services industry landscape, from the growing number of participants in the market to the increased use of new technologies and third parties.
Beyond operational resilience there is now a much stronger requirement for enterprise-wide supply chain management capabilities that map and manage third party risks to core business processes. HM Treasury published a policy statement to address a ‘gap’ they identified in the current regulatory framework. A critical third party regime will be published with extended powers for regulators to assess whether the resilience standards are being met by third party providers.
The session will include speeches from:
- Orlando Fernández Ruiz, Financial regulation policy specialist - Prudential Regulation Authority (PRA)
- Maxim Tarnavsky, Senior Technology Risk Supervisor - Financial Conduct Authority (FCA)
Covering both the PRA's and FCA's DP3/22 discussion papers, both speakers welcome members' questions and feedback regarding the papers*.
Register to this webinar to find out how industry support the operational resilience objectives and what the new regime will mean for the sector.
*Please send questions to Hugo's contact details below.
For any queries, please contact the below team:
Jago Corry
Jago Corry
Jago joined techUK in July 2022 as a Programme and Policy Assistant to a mix of (but not limited to) Programmes including Financial Services, Justice and Emergency Services, and International Trade.
His role involves helping to shape the digital technology sector's response, position and general understanding towards UK Government, regulatory and international policymakers' rapidly developing frameworks and regimes covering technology's influence within economy and society. This also includes supporting the advancement of Government agencies’ approaches to DDaT and wider strategic cross-industry collaborative documents, within attempts to integrate digital transformation into wider administrative priorities.
He holds an undergraduate degree within Political Science, and master’s degree within European and Global Governance, of which his dissertation research project focused upon the European Commission's Social Dialogue mechanism, and its influence within labour market, employment, and European Stability Mechanism policymaking.
- Email:
- [email protected]
- Website:
- www.techuk.org
- LinkedIn:
- https://www.linkedin.com/in/jagocorry/
Andy Thornley
Andy Thornley
Andy joined techUK in August 2022 as Head of Programme – Financial Services. His role includes leading techUK’s work in building a greater understanding of the 'technological art of the possible' in order to apply it to the reform and evolution of financial systems.
Before joining techUK, Andy worked for a number of other bodies in the financial services sector, including the British Insurance Brokers’ Association, where in addition to owning policy and public affairs, he was also responsible for fostering InsurTech in the sector.
Andy has a degree in Human Biology and holds a Certificate in Insurance (Cert CII) qualification from the Chartered Insurance Institute. Outside of work, Andy is an avid cyclist and races competitively both on the road as well as the velodrome.- Email:
- [email protected]
- Twitter:
- @AndrewThornley
- LinkedIn:
- https://www.linkedin.com/in/mr-andy-thornley/
