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Can Your Critical Third Parties Pass the Road Test?

With the Bank of England, Prudential Regulation Authority (PRA), and Financial Conduct Authority (FCA) latest policy on “Operational Resilience: Critical Third Parties to the UK Financial Sector,” the pressure is on for critical third parties (CTPs) to be prepared for anything—because when they falter, it’s the whole financial system that feels it. And while traditional resilience...

Simplifying Third-Party Risk Management with Engagement

From the comprehensive approach of ISO 22301 in Business Continuity Management to the specialized third-party risk management guidelines set by regulatory bodies across the United States, EMEA, and APAC regions,  the universal emphasis on regular testing, senior management involvement, and stakeholder collaboration are gamechangers for organizations building the capability to withstand compound disruption. The practice...

Enhancing Digital Operational Resilience for Business Leadership under DORA

The EU’s Digital Operational Resilience Act (DORA) has ushered in a new era of responsibility for business leaders, executives, and board members in the financial sector. With the rising complexity of Information and Communication Technology (ICT) risks, traditional methods of training and risk assessment are being reevaluated. Microsimulations present an innovative approach to meeting these...

Gamechangers in Resilience: Practice, Practice, Practice

In today’s fast-paced business world, being adaptable is a must for a company’s success. iluminr’s ‘Gamechangers in Resilience’ interview series shines a spotlight on influential leaders who are masters of resilience, whether in the workplace or within their communities. These exceptional individuals not only help their teams and organizations thrive during turbulent times but also...

Enhancing Third Party Risk Awareness and Resilience Through Microsimulations

In today’s interconnected global marketplace, businesses are increasingly relying on third party partnerships to augment their capabilities, extend their reach, and drive growth. While these collaborations offer numerous advantages, they also introduce complex third party risks and vulnerabilities that can have a significant impact on an organization’s operations, reputation, and bottom line. To navigate this...