A systemic risk perspective on operational resilience − speech by Liz Oakes

Given at the Cross Market Operational Resilience Group (CMORG) conference
Published on 18 September 2025
Liz Oakes explains how the Bank of England’s Financial Policy Committee thinks about operational resilience from the perspective of protecting financial stability. She highlights the importance of firms considering system-wide dynamics when managing operational risks, and how collective action initiatives are an important tool to help with this.