Operational Resilience definition
Operational Resilience means the ability to prevent, adapt, respond to, recover and learn from a series of linked events or a singular event which is unplanned by the Participant and which has or is likely to have an adverse impact on the integrity, availability, confidentiality, authenticity and/or continuity of services of the Participant;
Operational Resilience means the ability of an RE to deliver critical operations through disruption. This ability enables an RE to identify and protect itself from threats and potential failures, respond and adapt to, as well as recover and learn from disruptive events to minimise their impact on the delivery of critical operations through disruption. In considering its operational resilience, an RE should assume that disruptions will occur, and take into account its overall risk appetite and tolerance for disruption or impact tolerance.
Operational Resilience means (i) for Participants on the UK MTF, the ability to prevent, adapt, respond to, recover and learn from operational disruption as adopted by the FCA, Prudential Regulatory Authority and Bank of England, or (ii) for Participants on the EU MTF, the ability to prevent, adapt, respond to, recover and learn from a series of linked events or a singular event which is unplanned by the Participant and which has or is likely to have an adverse impact on the integrity, availability, confidentiality, authenticity and/or continuity of services of the Participant;
Examples of Operational Resilience in a sentence
Where Customer’s use of the Cloud Services is subject to ICT laws, regulations, or frameworks such as Digital Operational Resilience Act – Regulation EU 2022/2554, Customer shall not use Cloud Services unless and until the Parties have agreed on supplemental terms as required by such ICT Legislations.
More Definitions of Operational Resilience
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Operational Resilience the ability of a Supervised Entity to build and maintain its operational integrity and the full range of operational capabilities, related to any digital and data 5 For BCB the term may refer to an institution authorized and/or supervised by the BCB, under applicable Laws and Regulations, such as: Article 10, subsections IX and X of the Banking Law (Law 4,495, of 1964), Article 9, subsection V, of the Law 12,865, of 2013, amongst others. For BdI the term may refer, among others, to banks and investment firms not falling under the direct responsibility of the ECB and/or the SRB pursuant to the SSM Regulation and the SRB Regulation; asset management companies and collective investment undertakings; payment institutions and electronic money institutions. With regard to investment services and asset management business the Italian Consolidated Law on finance establishes that supervisory responsibilities are exercised by BdI and the Consob (the Italian Companies and Stock Exchange Commission) according to their purposes. BdI is responsible for matters related to intermediaries’ stability and risk containment, the Consob is responsible for matters related to transparency and market conduct. technology-dependant component, tool, process that the Supervised Entity uses to conduct and support its business. It encompasses ICT, outsourcing and security risks management.
Operational Resilience means (i) for Participants on the UK MTF, the ability to prevent, adapt, respond to, recover and learn from operational disruption as adopted by the FCA, Prudential Regulatory Authority and Bank of England, or (ii) for Participants on the EU MTF, the ability to prevent, adapt,
Operational Resilience means the ability of a financial entity to build, assure and review its operational integrity from a technological perspective by ensuring, either directly or indirectly, through the use of services of ICT third-party providers, the full range of ICT-related capabilities needed to address the security of the network and information systems which a financial entity makes use of, and which support the continued provision of financial services and their quality;