An Operational Resilience Framework is a structured approach adopted by organizations to anticipate, withstand, and recover from disruptions to their critical business services. This framework identifies vital operations, assesses potential threats, and establishes recovery capabilities to maintain essential functions during adverse events. It aims to ensure continuity and stability in the face of operational shocks.
Context
Financial regulators are increasingly requiring digital asset firms and traditional institutions operating in the digital finance ecosystem to implement robust operational resilience frameworks. News often reports on new regulatory guidelines, industry best practices, and the challenges of applying these frameworks to decentralized systems with their unique risk profiles and interdependencies.
Firms must immediately integrate DORA's systemic ICT risk framework and third-party oversight controls to achieve operational compliance by January 2025.
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