As banks face an expanding array of threats and challenges, boards recognize the need to adapt their thinking. As a result, boards are increasingly taking a new approach to operational resilience.
The topic of operational resilience calls to mind internal planning efforts to address a list of everything that could go wrong: next-generation cyberattacks and data breaches, fraud, natural disasters and the economic shocks of inflation and interest rate changes. These critical issues all require careful board oversight of risk mitigation strategies.