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.
Register to this webinar to find out how industry support the operational resilience objectives and what the new regime will mean for the sector.
For any queries, please contact the below team: