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What Is an Operational Level Agreement (OLA)?

BMC

In today’s technology-driven marketplace, delivering superior IT service management is a requirement. Work authorization and signatures You will want to define the specific tasks, and the team members assigned to them, so that you ensure the work gets done by the right people, and that you avoid duplication.

Audit 95
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Empowering Customers on Their Resilience Journey with a New Model of Compliance

Fusion Risk Management

And just like that, the first milestone on the Bank of England, Prudential Regulation Authority (PRA), and Financial Conduct Authority (FCA) operational resilience regulatory timeline came and went. By March 31, 2022 firms needed to identify their important business services, map dependencies, and set impact tolerances.

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Operational Resilience Self-Assessment: Achieving the March 2022 Deadline

Castellan

In March 2021, The Bank of England, the Prudential Regulation Authority (PRA), and the Financial Conduct Authority (FCA) published policy documents about operational resilience. This was explained in May by Lyndon Nelson Deputy CEO of the Prudential Regulation Authority.

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What Does Good Look Like in the Era of Operational Resilience?

Fusion Risk Management

The Prudential Regulation Authority (PRA), Bank of England (BoE), and Financial Conduct Authority (FCA) jointly issued stringent regulations to mitigate systemic risks and contain potential crises. Establishing a Framework for Critical Services Organizations should develop objective frameworks to determine core business services.

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DORA vs. DORA! by Lee Fredricks

PagerDuty

” Of course, FS firms were already on this path–OR helps them deliver their business in a consistent way, gives them competitive advantage and maintains their reputation. The FS firm must reassess these important services regularly and also whenever there is a significant change to their business or the market in which they operate.

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What’s Next After Completing Your Operational Resilience Self-Assessment?

Castellan

The Financial Conduct Authority (FCA) , the Bank of England (BoE) , and the Prudential Regulation Authority (PRA) announced these new requirements a year ago to improve the operational resilience of financial services in the UK. Going forward, organisations are expected to operate within those impact tolerances.

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The Digital Operational Resilience Act is Finalized – Now is the Time to Act

Fusion Risk Management

It also expands the scope of a regulator’s reach to those critical technology and data service providers that compose the digital footprint by which the important business services stand. The DORA definition of a technology and data service provider does not make a distinction between a cloud-based and non-cloud-based provider.