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Operational resilience – Safeguard against peril
Operational resilience is recognized worldwide as the right response to the risk imposed by the high level of interconnectedness across businesses, markets and government organizations. Regulators in all corners of the globe are imposing laws and regulations such as the CPS 230 in Australia and DORA in the EU to ensure market stability and uphold consumer trust and confidence. Although regionally enacted, many regulations require compliance outside regional borders.
Operational resilience is not new but it is increasing in its scope of activities going far beyond business continuity and data recovery planning. Whether driven by law or as to stay competitive, the goal of operational resilience is to ensure a company can respond and recover quickly from a disruption – and to prevent disruption from happening in the first place.
Build your operational resilience with the right solutions. Alfabet and ARIS help business and IT navigate the stormy seas of operational threats and sail smoothly through regulatory obligations.
Make sure your organization bends—not breaks—when facing adversity
Now is not the time to let down your guard. Disruption may be a fact of business life but that doesn’t mean you have to welcome it in. Having the right capabilities in place is your first line of defense. Resist, react and rebound with solid footing on a foundation built on proven practices managing business processes and the IT portfolio.
What makes Software AG’s approach different?
Enterprise Architecture Management
Most important for any regulation initiative is to have complete transparency into the IT landscape. And more—with an integrated, cohesive view of how the IT portfolio relates to the business operations and the risks involved.
IT Governance
Establish a framework for IT planning and management and the associated risk management. The framework should demonstrate ownership of business and IT operational elements. And it should have a clear methodology for IT change initiatives, reporting, policies and procedures, and standards enforcement mechanisms.
Threat Management
Threat management is important for identifying threats before they enter the IT environment. And the ability to relate them to the architecture or IT portfolio assets helps identify where danger could strike and what the impact would be—to business and IT operations.
Risk Management
Risk management comprises the inventorization and prioritization of applications to identify possible risks. You also want to do this for the technologies supporting the applications. You need to be able to assess the risks that have been identified. This includes categorization and damage potential.
Risk Mitigation
And you need to be able to plan risk mitigation to reduce the overall threat to the enterprise. For risk mitigation you need to consider risks already in the Demand Management of demands for new solutions and in Solution Design. This is how to build operational resilience.
Contract & Vendor Management
With a contract and vendor management capability, you know who all your 3rd party service providers are and you can associate contractual terms and conditions with related architecture elements to understand risk implications.
Risk Assessments
For efficient risk management and mitigation, you need to assess your operational and financial risk regularly. The probability for occurrence and possible impact can vary with every changing factor—be it a process update or new external circumstances like a new law. That’s why it’s crucial to keep an eye on your current risk status and make regular assessments.
Regulatory Management
The first step in regulatory management is the documentation of new laws and regulations and the creating transparency. Then you need to derive regulatory requirements and map them to your business landscape. Only when you know exactly where you will have an impact are you able to control compliance risks effectively.
Self-Assessments
What is the best way to receive information quickly? Ask the right questions to the right people. Your employees are the best source of information when it comes to possible bottlenecks, risks, issues, and such. Self-assessments help you to conduct surveys within your target group and use the evaluated results for process and compliance improvements.
Confirmation Management
Defining and publishing policies and company guidelines isn’t enough to ensure that all employees have read and understood them. It is important that everybody knows exactly what to do. Therefore, you need to ensure that they receive and confirm new guidelines and policy updates.
Control Testing and Management
Controls are necessary to check if you are compliant or not. Even better is the control of the control effectiveness. This is also necessary to give proof of your compliance to external auditors. Establish an internal control system (ICS) with regular controls for effectiveness, documentation of results and reporting capabilities.
Incident and Issue Management
No matter how good your ICS and risk management are, incidents will occur. The difference is in how well you handle them. You might also find weaknesses in your control system that you will want to eliminate or improve. Issue management can help you initiate improvements and adapt fast and easily to regulatory changes.
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