Background:
The client was a leading global financial services business that was looking to review and update its Operational Resilience self-assessment document, that incorporated a severe but plausible crisis simulation, with a lessons learned analysis for its senior leadership team.
Solution:
Aldbury International was approached to develop a crisis exercise that, with minimal demands on both time and resources, would stretch the team and highlight where improvements could be made.
Stage 1 – Scoping call with COO to understand organisational structure, investment portfolios and core systems.
Stage 2 – Developed a complex scenario predicated by a ransomware attack on a core system host by third party.
Stage 3 – Ran a two-hour live time simulation with the client’s crisis management team, rehearsing decision making in the face of uncertainty and stress testing internal and external communications plans.
Stage 4 – Hot de-brief with key lessons learned captured.
Stage 5 – Written report highlighting strengths of organisational response and capturing lessons learned that would enhance future response.
Stage 6 – Update of self-assessment document.
Outcome:
The client reported that the members of the crisis management team had found the exercise extremely valuable in highlighting notable gaps in their current processes and capability, allowing resources to be focused on those areas. The self-assessment was fully accepted by the Board.
Head of Compliance said: “The team really enjoyed the exercise and were grateful for your input and ongoing support.”
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