COVID-19 and operational resilience in the financial sector

Monitoring of the operational resilience of financial services firms during the COVID-19 pandemic represents an essential role that the regulators must accomplish. Also, this will continue to be an important focus for them as restrictions are gradually eased.

In the short term, regulators will look particularly close at how financial institutions refine their resilience plans, how they approach the governance perspective of their operational resilience and the quality of their crisis communication.

In the long term perspective, the current pandemic will influence the direction of operational resilience regulation.

This article provides further insight on at least three areas where firms should expect regulatory scrutiny to be most acute in the following months.