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A rapidly growing financial technology firm based in the UK offers various services, including savings accounts, cryptocurrency accounts, domestic bill payment services, and multi-currency payment options. The company is currently focusing on developing a strategy to comply with the newly introduced UK regulatory requirements for operational resilience. A senior operations manager is tasked with formulating this strategy. Which of the following actions should the manager recommend for the company to most effectively satisfy the regulatory standards for operational resilience?
A
Develop an impact tolerance for each of the internal processes performed by the firm.
B
Identify important business services and map the dependencies between these services.
C
Calculate the 1-year 99.9% VaR for operational risk for each of the firm's business divisions and use this result to reserve additional capital for each division.
D
Create an operational resilience team that is led by the IT department, with its other members coming from the operational risk management, legal, and compliance functions.