OneView: Operational Resilience

Introducing OneView

From the global financial crisis to technology failures to pandemics, the UK financial services sector has experienced diverse market shocks in recent years.

To minimise disruption for their customers, and the market at large, it’s now more important than ever for these organisations to improve their operational resilience to high impact events.

With the introduction of new regulatory requirements, firms must now demonstrate to the regulators that they are meeting their operational resilience requirements. They must prove they have fully assessed the risk and impact of disruption or loss of their resources (for example suppliers, technology, people and property) on important services, not just for their business, but also their customers and the market.

Whilst there will be many business continuity plans in place across each organisation, these will likely be held on separate platforms, by separate teams, and sometimes even separate businesses. The challenge lies in how you bring these together to ensure that they include sufficient focus on your important business services and highlight any interconnected vulnerabilities so you can focus attention on the areas that matter most for your business, your customers and the wider economy.

Our technology solution, OneView, draws on our risk management and regulatory experience to transform the way that businesses enhance their operational resilience and comply with new regulatory requirements. It allows you to quickly and easily assess business services, mapping these against key resources to identify vulnerabilities. As well as supporting you in meeting your regulatory obligations, it also provides you with the data you need to make better strategic and investment decisions over time.

Benefits

Total visibility of resources and services to map vulnerability

With a complete view of all of your business services and how each of your resources connects with these, you are able to easily map out vulnerabilities.

Strategic and investment decisions based on the data

With a clear understanding of where your operational vulnerabilities lie, this data can help inform strategic and investment decisions for the future.

Align to your risk appetite

OneView offers you a consistent framework through which to set your risk appetite. This allows you to monitor your critical resources and business services in line with your tolerance levels.

Deliver industry best practice

By combining technology with our regulatory and market expertise, we’re able to offer a solution that delivers industry best practice. OneView embeds your operational resilience processes to support meeting regulatory requirements as soon as they come in to effect.

Promote confidence for your board and business

With an up to date perspective on all your key operational information, you’re able to quickly deliver greater insight to your stakeholders. Regular review cycles built into the platform also help you to stay on top of your self-assessment responsibilities.

Improve collaboration and accountability

OneView allows teams to collaborate and manage resources more easily, and creates a greater sense of accountability. Resources, business services and remedial actions can be clearly assigned to different users, with full audit trail available for any changes made within the platform. By providing one framework for data input right across the organisation, consistency is also improved.

Join us

We are working with leading Financial Services organisations, including Aon, to quickly and easily assess the operational resilience of their vital services.

Get in touch

Key features

OneView - operational resilience includes the following key features:

Risk based framework
Governance and assignment of roles
Workflow management
Dynamic management information
Open API
Cloud based
Single sign on

How it works

Identify important business services OneView provides a central location to manage your lists of services, with a consistent framework to identify those that are most important to your business.
Map important business services against resources OneView guides you to identify the combination of resources that the delivery of each of your important business services relies upon. This highlights which critical resources may pose a risk to the delivery of your important business services, allowing you to focus on increasing resilience in the areas that are most integral to your business, customers and the market.
Set impact tolerances and regular reviews OneView provides a consistent framework through which you can set impact tolerances for your important business services. You’re able to access regular MI indicating how your business is performing in relation to the impact tolerances you set, as well as prompting regular reviews to ensure the tolerances remain accurate.
Conduct scenario tests OneView helps you to create scenario testing plans by generating possible scenarios that involve the loss or disruption of your most critical resources. This allows you to test how this will impact your important business services, with functionality to record the results of the testing in OneView, as well as remedial actions and communication plans. You can also use the ‘sandbox environment’ in OneView to make hypothetical changes to your business services and resources to fully understand the impact of scenarios and upcoming strategic decisions to your organisation, without impacting the live version of the platform.
Run self-assessments OneView allows you to run regular self-assessment reports on your operational resilience, and delivers this in a format that is regulator ready, so that you can quickly and easily demonstrate that you’re operating in line with regulatory expectations.