Risk Appetite
Operational Resilience refers to an organization's ability to anticipate, prepare for, respond to, and adapt to operational disruptions in order to maintain its critical business functions and protect its vital interests. It is a proactive approach to managing risk that focuses on ensuring continuity and stability in the face of unexpected events. Operational Resilience goes beyond traditional risk management and operational risk management by considering the interdependencies and cascading effects of disruptions across an organization's systems, processes, and functions. It is a holistic and integrated discipline that requires cross-functional collaboration and communication to effectively manage operational risks and ensure business continuity. Operational Resilience aims to minimize the impact of disruptions on an organization's operations, customers, reputation, and financial performance.