Resilience and supply chain risk are increasingly important issues for financial institutions. Both clients and regulators expect firms to provide services without disruption, and, when disruption inevitably does occur, to recover promptly and minimize the impact on clients and the market. Financial institutions’ responsibility is to ensure services are resilient, both for processes and operations within the firm itself and those undertaken by its suppliers.
Arguably, expectations are higher for the financial sector than for some other sectors, given the immediacy of finance and the connection to financial stability. The financial sector is also highly interconnected and complex, and with many interconnections cross borders, creating a challenging environment for supply chain risk management.
This paper provides an overview of resilience and supply chain issues facing European financial institutions and offers insights into the strategic aspects that senior executives will be considering.
