Supplier Stability in Operational Resilience

Cloud technology and third-party reliance pose new operational resilience challenges for financial firms. CeFPro and Escode's survey evaluates industry compliance with regulations on exit strategies, testing, and vendor risk.

Key insights:
· Inconsistent management of vendor risks with unclear accountability
· Vendor pushback and technical issues in stressed exit plan execution
· Limited use of tools like escrow to counter vendor failure

Confidence is high, but more work is needed to meet evolving regulations and strengthen supply chain resilience.

The full report offers strategies to improve third-party risk management and operational resilience.

Vendor:: NCC Group
Posted:: Jul 12, 2024
Published:: Jul 12, 2024
Format:: HTML
Type:: Analyst Report

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