Operational Resilience: The Evolution of Business Continuity

Main Article Content

Jennifer Wilkinson https://orcid.org/0000-0003-1718-8778

Keywords

Operational Resilience, Business Continuity Management, Leadership, Resilience Education, Evolution

Abstract

This paper explores the views of business continuity and resilience practitioners within the financial sector, to critically analyse the supervisory authority’s introduction of the regulatory Operational Resilience Policy, having concluded that although business continuity planning is a necessary process, it is not sufficient to ensure the sector’s most important services can continue during any disruption that may occur (Gerken, 2017, p.3).  Findings suggest that practitioners agree there are gaps within Business Continuity Management (BCM) practice, with leadership being a central theme identified. Specifically supervisory authority leadership, organisational leadership and practitioner leadership, which have impacted the effectiveness of BCM programmes, resulting in a number of high-profile incidents within the sector (Monahan, 2018; Hogg, 2018; Financial Conduct Authority, 2018, p.4). This paper recommends areas of future research such as business continuity and resilience education for practitioners and senior managers and its impact on an organisation’s resilience, which could provide additional insight into the role of education and leadership on the evolution of the business continuity discipline (Andrews, 2019; Asgary, 2016; Thomas, 2019; Wong, 2009;). Once the Operational Resilience Policy has been embedded, further research could explore the impact of the policy on strategic leadership within financial organisations and if this has an impact on operational resilience outcomes. The future research areas noted could build upon these initial research findings and provide evidence to further support the development of policy and practices within BCM to address the gaps identified and potentially enable its next evolutionary step.

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