Call us now:
A useful read. The Depository Trust & Clearing Corporation (DTCC), who process securities transactions valued at more than U.S. $1.85 quadrillion, across 170 countries with deposits totaling $52.2 trillion. Released a white paper this week on market resilience and the dependency on technology and digital and the impact of cyber on the stability of financial markets.
They call for a ‘Paradigm’ shift in resilience thinking across the financial services industry. Siting the need for better coordination at both company level and industry wide on resilience. I’ve summarized the key principles
1) Business resilience efforts must be industry and enterprise wide, regulatory and risk focused.
2) Building a resilience-centric culture and mindset is essential. Embedded into the risk culture and a continuous process of a company.
3) Enable resilience through governance. Resilience driven from the board table, through oversight, planning, funding and policies.
4) Transparency and measurability are Key. Reporting which is comprehensive, measurable, repeatable, timely.
5) Resilience must be sustainable and adaptable. Market focused, business focused, flexible, aligned to the business and threats.
6) Resilience requires eliminating complexities. Simple industry wide cooperation.
View Original Post
https://www.linkedin.com/feed/update/urn%3Ali%3Ashare%3A6583284580986429440