Operational resilience has been on the forefront of regulators’ minds globally, with a plethora of announcements from the likes of the SEC and NFA in the US, the FCA in the UK, through to the SFC in Hong Kong and the MAS (here and here) in Singapore. In Edition 126 of the AIMA Journal, there were two excellently-written pieces (here and here) that describe what operational resilience means in the eyes of (UK-focused) regulators and how firms should react. A year on, those themes remain applicable globally, so I shall not go into much further depth on those. What I will say is that there are various definitions of what operational resilience means, as there is no single definition but, to me, a better replacement for operational resilience is corporate bouncebackability.1 This is because operational resilience can imply that resilience is solely an operational or technological issue, which is not true – having corporate bouncebackability can be a value-driver too, helping firms to create another avenue of competitive advantage.
