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The Operational Risk Handbook for Financial Companies: A guide to the new world of performance-oriented operational risk by Brian Barnier

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2.7. React and Recover—Right Action at the Right Time

Figure 39

When a problem or event in the system threatens business performance, a reaction is required. The reaction loop of the risk management cycle is followed. In reacting, options are limited to existing capabilities (resources, plans, oversight, management, controls and processes to use them) such as extra servers, investigators or crisis teams. For example, an institution can degrade operations in the event of a cyber-attack, close branches in the event of bad weather, or deploy a pre-defined ‘SWAT’-style team to address a system outage.

React to cascading events

In seminars, ...

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