BCI Operational Resilience Report 2024

The BCI Operational Resilience Report 2024 serves as a comprehensive guide detailing the current state of operational resilience within organizations, particularly in the financial services sector. The report outlines the increasing urgency for compliance with various operational resilience regulations, including the EU Digital Operational Resilience Act (DORA) and the Australian APRA CPS 230 standard, with deadlines approaching in 2025. It documents that a significant majority of organizations either have an operational resilience program in place or are in the process of developing one. The report also highlights the growing complexity of compliance, as many organizations are now required to adhere to multiple regulatory frameworks simultaneously. Additionally, it discusses the evolving roles within organizations, noting an increase in the creation of positions such as Chief Resilience Officer. The findings indicate a shift towards a proactive approach in operational resilience, emphasizing the importance of identifying critical services and managing vulnerabilities. Overall, the report reflects the dynamic landscape of operational resilience and its critical role in organizational strategy.