Operational resilience is the ability of firms, financial market infrastructures (FMIs), and the financial system to prevent, adapt, respond to, recover from and learn from operational disruption.

An important component of operational resilience is the role of, and potential risks regarding the stability of and confidence in Critical Third Parties (CTPs), that may provide external facilities to one or more firms with the financial services industry.

Operational resilience and CTPs are essential areas of focus for PIMFA to help ensure that our member firms are prepared and are able to minimise the likelihood of a disruption occurring and impacting clients, by having in place the appropriate responses and recovery processes through risk identification, mitigation, and monitoring.