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A fast-growing UK-based FinTech firm offers savings accounts, cryptocurrency accounts, domestic bill payment services, and services that allow customers to make payments in different currencies. A senior operations manager at the firm is developing a plan to comply with new UK regulatory requirements for operational resilience. Which of the following steps should the manager recommend that the firm take to best comply with the regulatory expectations in this area?
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.