Imagine a global bank unable to process its wholesale payments, or a cyber-attack locking down all the ATMs of a retail bank in its top revenue market. Breakdowns of critical business services do not just impact revenues, profit and reputation, they may damage relationships over the long term and have cascading impacts on broader market participants and communities.
This is why the financial services (FS) industry needs to think about operational resilience in terms of not only preventing disruption, but being prepared to continue and restore business services. To do so, firms need to elevate their traditional business continuity planning and disaster recovery (BCP/DR) to a more strategic, holistic set of capabilities.
Financial Services Advisory Regulatory Leader, PwC US
Principal, PwC US
US Financial Services Tax Reform Leader, PwC US
Principal, Resilience Leader, PwC US