PIMFA
Operational Resilience
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.
- Operational Resilience WORKING GROUP
The PIMFA Operational Resilience Working Group shares intelligence, explores a wide range of issues impacting our sector, and develops best practices and guidance.
If you are interested in joining this member only group, please contact Kevin Sloane.
Maria Fritzsche
Senior Policy Adviser - Operational Policy, Regulation and Innovation Lead
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latest work
New FCA incident and third party reporting rules
Firms have 12 months to prepare for new FCA rules on operational incident reporting and material third party reporting (PS26/2, in force 18 March 2027). All firms should review their incident management processes and threshold frameworks ahead of the deadline.
Read the Policy Statement here
Read the Guidance here for Operational Incident Reporting here
Read the Guidance here for Material Third Party Reporting here
Watch the FCA webinar: Operational resilience 1 year on, incident and third party reporting requirements here
Please contact Maria Fritzsche if you would like to join the discussions.
CTP regime: industry needs next steps for formal designation process
Read PIMFA’s article in the Financial Times on the CTP regime
PIMFA Compliance Conference 2025
Maria Fritzsche, Senior Policy Advisor, PIMFA, Adam Schollar, Operational Risk Manager, Killik & Co LLP, Robert Blinkhorn, Chief Operating Officer, Wise Investment and Claudia Bezerra-Dyson, Risk Business Partner, Equiniti Financial Services Ltd Panel – Operational Resilience – six months on, how are firms doing?
