The ability to deliver critical services through and after disruption. It focuses on outcomes for customers and the system, not on preventing every failure.
Where you will meet it
Operational resilience comes up in 6 learning outcome notes across the FRM syllabus.
A few of them:
Principles for Effective Data Aggregation and Risk Reporting FRM Part I · Foundations of risk management
“Exam point: the benefits are decision quality, resilience and efficiency, and the principles do not promise lower capital charges.”
Global Financial Stability Report, Chapter 2 FRM Part II · Current issues in financial markets
“The exam point is that capital buffers and liquidity buffers decide resilience, and that outflows net of cash are what force asset sales.”
Introduction to Operational Risk and Resilience FRM Part II · Operational risk and resilience
“Operational resilience is the ability of a firm to deliver its critical operations through disruption.”
Risk Measurement and Assessment FRM Part II · Operational risk and resilience
“Operational resilience is the ability to keep delivering critical services through disruption, by preventing, adapting, responding and recovering.”
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