Key issues in integrating Operational Resilience and TPRM
There are, however, a couple key issues that will need to be addressed to make such an integration succeed:
Concentration Risk
This is significant in a complex supply chain landscape. The chances of multiple suppliers in the same chain making use of the same utility provider, cloud service provider, transportation system, or even network of Directors is surprisingly high. A single incident could impact multiple parts of a business in numerous ways. Visibility will matter.
Proportionality
Large global corporate institutions will have very different needs of, and relationships with, service providers, compared to a single-site Credit Union, for example. This will drive very different solutions for both, but ideally, there will be standard definitions and measures to help the industry maintain its robustness.
To help address these, in the UK there is a market-lead initiative emerging that will help institutions both large and small. In due course, it should provide a common set of definitions, measures, and language that will help institutions and their service providers to align services, requirements, and…
