Illustrative: submarine cable routes and the traffic on them

Risk Academy, led by the Nexus Consortium · Finance and Economics

Operational resilience and ICT risk in finance

Supervisors now ask not only whether a bank holds enough capital but whether it can keep payments, trading and customer access running through an outage, an attack or a provider's failure.

Map operational resilience and ICT risk in finance on a real place

01Model

The model, step by step

The model

From an outage to an impact tolerance: recovery time, failover and the service a firm must keep

DataModelGateDecision

6 steps
Hours beyond the tolerance
4 h
Recovery time
8 h
Rerouted share
50%
Payments failed in the outage (million)
2.00
/

The model From an outage to an impact tolerance: recovery time, failover and the service a firm must keep

02Scope

What the discipline covers

The subtopics its courses and labs teach.

Operational resilience and ICT risk in finance: 0 primary courses open, 0 in preparation and 0 also taught here, across 9 subtopics. Courses: none yet.20L1L2L3L40
Operational resilience and ICT risk in finance at a glance
  • Open, 0
  • In preparation, 0
  • Subtopics, 9
Course codes from the curriculum; study levels L1 to L4.
Courses
In development
Levels
In development
Labs
In development
  • Important business services and impact tolerances
  • ICT risk management frameworks
  • Cyber resilience and threat-led penetration testing
  • Third-party and concentration risk in cloud services
  • Oversight of critical ICT third-party providers
  • Major incident reporting
  • Severe but plausible scenario testing
  • Operational risk capital and loss data
  • Business continuity for market infrastructures
03The discipline

The field and its scope

For operational risk, technology, cyber and third-party risk staff in financial firms and infrastructures, and for supervisors who set and test impact tolerances.

04Measures

Quantities and units

05Methods

Methods and their limits

Each method is listed with what it assumes and where it fails.

06Debates

What the field debates

07Bodies and data

Bodies that set practice, and the data they publish

Bodies and standards are named so learners can find and apply their published work; the Academy teaches their use and links to the publisher, and no affiliation is implied.

08Simulator

Run the discipline's simulator

Operational resilience and ICT risk in finance's own model, as a live chart: move each parameter and read how the outputs respond.

09Maps

Build a twin of any place

Search any place or open the world; the layers and generators follow operational resilience and ICT risk in finance on the planet map, the globe and in 3D.

Houston and the Ship Channel: a flat plan of the faculty twin. Terrain 0 to 66 m; 30 power plants, 11,875 MW; 7 refineries and chemical works; 2 port land; 29 named works; 154 named industrial sites; Surface water extent, OPERA DSWx (HLS): read live when the 3D twin opens; Built-up and settlement extent, HBASE 2010: read live when the 3D twin opens. Contours every 10 metres from the elevation grid; power plants as marks; refineries, terminals and industrial sites as marks.
Houston and the Ship Channel, United States. Flat plan of the same data: relief as contours from the inline grid, the plants by capacity, the industrial points by kind and the numbers below. The 3D twin opens on devices with WebGL once its data and library have been checked.
  • Terrain 0 to 66 m
  • 30 power plants, 11,875 MW
  • 7 refineries and chemical works
  • 2 port land
  • 29 named works
  • 154 named industrial sites
  • Surface water extent, OPERA DSWx (HLS): read live when the 3D twin opens
  • Built-up and settlement extent, HBASE 2010: read live when the 3D twin opens
Credits and dates per layer are listed under the stage. Relief in the twin is exaggerated ×1.5 for legibility.

Drag to move, right drag or Shift with a drag to turn and tilt, Ctrl with the wheel to zoom. Keyboard: arrows move, Shift with arrows turn and tilt, + and - zoom, 0 resets, V steps through the views, Escape clears.

Flat plan of the same data: relief as contours from the inline grid, the plants by capacity, the industrial points by kind and the numbers below. The 3D twin opens on devices with WebGL once its data and library have been checked.

The boundaries, names and designations shown do not imply any judgement on the legal status of any territory, or any endorsement or acceptance of such boundaries. Countries: Natural Earth (public domain).

10Research hub

Research hub: papers, preprints and datasets

Open scholarly sources searched with the subject terms of Operational resilience and ICT risk in finance.

Search termsOperational resilience and ICT risk in finance; Important business services and impact tolerances; ICT risk management frameworks; Cyber resilience and threat-led penetration testing; Third-party and concentration risk in cloud services; Oversight of critical ICT third-party providersDerived from the Risk Academy page on Operational resilience and ICT risk in finance.

  • OpenAlexlisted for reference; not queried
  • Crossreflisted for reference; not queried
  • DataCitelisted for reference; not queried
  • Zenodolisted for reference; not queried
  • arXivlisted for reference; not queried
  • Europe PMClisted for reference; not queried
  • OpenAIRE Graphlisted for reference; not queried

No source is enabled for live display on this site yet: the sources are listed for reference and none is queried. Once the publisher of record enables a source after its terms are reviewed, recent works are listed here. Metadata and links only: title, authors, venue, year, type, open-access status and licence as each source records them; works are listed for orientation, not reviewed or endorsed.

11Hub

Research and tools

Research and preprints as they are published, by discipline, with the faculty's other tools.

The hub lists the newest research and preprints for Operational resilience and ICT risk in finance, each with its source and date. Open the research hub

12Courses

Courses in this discipline

Courses for this discipline are in development; until they open, study it through the connected courses and open lessons below.

The course catalogue lists every open course of the Academy.

13Technology in this area

How technology helps and what risk it brings

14Achievements

Achievements in this discipline

  1. Course achievements

    One for each course with this as its primary discipline, earned when you pass the course's assessed activities.

  2. Department: Banking and Financial Stability

    Earn two discipline achievements in the Department of Banking and Financial Stability. In development.

An achievement is a record of the learning completed and assessed here. How recognition works.

15Where this is practised

Where the subject is practised

A field platform page on this subject is in development.

16Practised in

The two Nexus Foundry systems where it is practised

  • Nexus FoundryNSF systemSecurity assurance and authorization of financial systemsAssurance room
  • NET systemContinuity of the networks financial services run onContinuity room

Nexus Foundry system pages describe what each system and its rooms are designed to do; the courses teach the methods these systems apply.

17Across the ecosystem

Across the ecosystem

19References

Core references and where to begin

Start with Basel Committee on Banking Supervision, then Bank of England, then Regulation (EU) 2022/2554 on Digital Operational Resilience for the Financial Sector (DORA).

NRNexus Reports gateway · GW-ACADEMY

Contribute to Nexus Reports from this page.

Nexus Reports is the Consortium's quarterly publication. What you know about this subject can become evidence, a case or a correction in the next edition, credited to you and published under CC BY 4.0 where it is your own work.

Risk Academy
Operational resilience and ICT risk in finance

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