UK FCA/PRA Operational Resilience Framework for Risk Managers
What does UK FCA/PRA Operational Resilience Framework require of a Risk Manager?
The UK Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) operational resilience framework (effective March 2022, full compliance by March 2025) requires financial institutions to identify important business services, set impact tolerances, and ensure they can remain within those tolerances during severe but plausible disruptions. Under UK FCA/PRA Operational Resilience Framework, which defines 22 controls, a Risk Manager's work is deciding which controls you own outright, which you share and which belong to another team, then holding the evidence for the first group.
Which UK FCA/PRA Operational Resilience Framework controls land on the Risk Manager
Risk Managers identify, assess, and prioritise organisational risks. They build risk registers, conduct risk assessments, define risk appetite, and ensure that compliance frameworks address the most material threats to the organisation.
UK FCA/PRA Operational Resilience Framework defines 22 controls across 3 domains that directly affect the Risk Manager role. Understanding which controls fall within your ownership, which are shared, and which are owned by other teams is the foundation of effective compliance management.
What a Risk Manager is accountable for under UK FCA/PRA Operational Resilience Framework
Conducting enterprise risk assessments and maintaining the risk register
Defining risk appetite and tolerance levels with executive leadership
Mapping compliance controls to identified risks for coverage analysis
Monitoring key risk indicators (KRIs) and escalating emerging threats
Integrating compliance, operational, and strategic risk management
Where Risk Managers lose time on UK FCA/PRA Operational Resilience Framework
These are the most common obstacles Risk Managers face when managing UK FCA/PRA Operational Resilience Framework compliance, and how to address them:
Challenge 1
Quantifying cyber risk in financial terms that resonate with executives
Challenge 2
Identifying gaps between compliance control coverage and actual risk exposure
Challenge 3
Integrating risk data from siloed tools and departments
Challenge 4
Keeping risk assessments current as the threat landscape evolves
Challenge 5
Prioritising remediation when resources are limited
A working order for a Risk Manager starting on UK FCA/PRA Operational Resilience Framework
1. Readiness Assessment
Take a 5-minute readiness assessment to identify your organisation's current gap profile against UK FCA/PRA Operational Resilience Framework. Get a prioritised action plan tailored to your specific situation.
2. Cross-Framework Mapping
Use our platform to map UK FCA/PRA Operational Resilience Framework controls against other frameworks you already comply with. UK FCA/PRA Operational Resilience Framework maps to 123 other frameworks in our database.
3. Build Your Toolkit
Equip yourself with UK FCA/PRA Operational Resilience Framework toolkits, self-assessments, and implementation guides from our store. Resources designed specifically for Risk Managers managing compliance programmes.
4. Continuous Monitoring
Establish ongoing compliance monitoring using our platform's gap analysis tools. Track your maturity over time and demonstrate progress to stakeholders.
UK FCA/PRA Operational Resilience Framework in your sector
Who else owns part of UK FCA/PRA Operational Resilience Framework
Questions Risk Managers ask about UK FCA/PRA Operational Resilience Framework
What does a Risk Manager need to know about UK FCA/PRA Operational Resilience Framework?
How does UK FCA/PRA Operational Resilience Framework affect the Risk Manager role?
What are the biggest UK FCA/PRA Operational Resilience Framework challenges for Risk Managers?
How should a Risk Manager prepare for a UK FCA/PRA Operational Resilience Framework audit?
What tools help Risk Managers manage UK FCA/PRA Operational Resilience Framework compliance?
Risk Manager: How ready is your organisation for UK FCA/PRA Operational Resilience Framework?
Answer 25 questions and get a professional readiness report with gap analysis, maturity scores, and prioritised action items. Results in 5 minutes.