target audience: TECH BUYER Publication date: Feb 2024 - Document type: Tech Buyer Presentation - Doc Document number: # EUR251750824
Bank Enterprise Resiliency — An Old Art Wrapped in New Clothes
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Abstract
This IDC Tech Buyer Presentation provides an overview of the key dimensions of organizational resiliency. Resiliency has become one of the most important risk dimensions to monitor in the wake of recent pandemics. Regulatory bodies across all jurisdictions have developed very similar legal frameworks defining resiliency, its components, and the tools and activities needed to monitor it. One such legislation in the European Union is the Digital Operational Resiliency Act (DORA).
This presentation points out that resiliency should encompass leadership, organization dynamics, workforce sustainability, and other aspects, rather than be limited to the digital domain. The presentation describes four building blocks needed to create resiliency: the identification of key business functions, the breakdown of IT services into distinct capabilities, the creation of prioritized road maps, and the development of test models.
Finally, the presentation highlights several areas that are perceived as barriers to achieving resiliency in financial organizations.