Video Transcription
Ciaran Flynn
Hello, my name is Ciaran Flynn, and I’m Head of Governance and Consulting Services here at Arthur Cox. Welcome to our new series of videos, which will cover the more nuanced and complex aspects of resilience. Over the course of the series, we will take a closer look at how firms can build resilience frameworks that are not only compliant with relevant regulations, but are also fit for purpose in today’s fast-moving environment. We’ll also look at how firms should prepare for something going wrong and how they should stress-test those resilience processes.
Resilience is becoming a strategic priority and increasingly the key differentiator between firms. With operating models growing ever more interconnected and disruptions from the likes of cyber threats and climate risks becoming ever more frequent and impactful, firms really need to be prepared to respond, recover, and adapt. In this series, we’ll explore the evolving regulatory landscape, including the growing influence of DORA and the Central Bank of Ireland’s revised cross-industry guidance on operational resilience. This revised guidance incorporates changes which have been informed by recent developments and ongoing industry insight, but are primarily focused on alignment and consistency with those DORA requirements. To support the series, we’ve developed the concise Resilience Playbook.
It summarises the key takeaways and offers practical tips to help you assess and enhance your resilience strategy. For more information, please visit arthurcox.com/resilience. Thank you.
In today’s unpredictable environment, shaped by global events, cyber threats, and regulatory shifts, resilience is a top priority for legislators and regulators around the world.
This series supports organisations in designing, reviewing, and refining their Resilience Frameworks through expert insights and actionable guidance.
- Regulatory expectations and supervisory priorities
- Core components of a resilience framework
- Workforce culture and accountability
- Incident response and recovery playbooks
Each video delivers actionable insights to help you strengthen your organisation’s ability to withstand disruption, adapt effectively, and recover swiftly.
To complement the series, we’ve also developed a resilience playbook, which is a hands-on resource to support your journey toward greater operational resilience.
Components of a resilience framework
In this video, Siobhán McBean, Partner in our Asset Management and Investment Funds Group and Ciaran Flynn, Head of Governance and Consulting Services, discuss the latest changes in operational and digital resilience, focusing on recent updates from the Central Bank of Ireland. These updates bring local regulatory guidance into closer alignment with the EU’s Digital Operational Resilience Act (DORA), encouraging firms to adopt DORA’s standards as best practice. They explain why organisations now need to maintain separate but aligned frameworks for operational risk and operational resilience, and stress the importance of addressing both internal and external critical business functions to ensure robust protection against disruption.