Operational resilience: CrowdStrike chaos and how to plan for disruption

The significant disruption caused by the recent CrowdStrike failings has brought operational resilience to the forefront of the payments industry’s attention. How can firms prepare for similarly destabilising events to avoid operational breakdown?

The next 6 months for payment firms will be crucial as they must meet the FCA’s March 2025 deadline for operational resilience and align to new regulations involving critical third parties. Across the channel, the DORA framework comes into play in January and will also ask impact financial institutions operating in the EU.

Alison Donnelly, TPA’s Regulatory Working Group Lead & Director at fscom, and industry experts will be explaining the history of operational resilience regulations up until the present, using FCA timeline from 2022 – 2025 March deadline. They will be breaking down how operational resilience regulations apply to all firms that host critical third parties and discuss what it means to be compliant, delving into various scenarios to demonstrate how the regulations could apply.

Join the webinar to:

• Receive practical advice on how to tackle regulatory requirements and potential risks when relying on external service providers, including establishing a roadmap, ow to avoid misunderstandings of the current regulations and how that might affect operations, and how to use resources effectively to satisfy the FCA.
• Note the challenges in effectively mapping out the processes, technology, people etc. of third parties.
• Learn how regulators might approach enforcement
• Discover how the UK approach compares to DORA. Is there more that needs to be done outside of DORA?

14:00 Welcome remarks 

14:10 Introduction to past and current regulations

14:30 Panel Discussion with Live Q&A 

14:55 Closing remarks

15:00 Finish