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Operational Resilience Policy

Operational Resilience Policy Template for Australia

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Key Requirements PROMPT example:

Operational Resilience Policy

"Need to draft an Operational Resilience Policy for a mid-sized Australian fintech company, focusing heavily on technology resilience and third-party risk management, with implementation planned for March 2025."

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Document background
The Operational Resilience Policy serves as a cornerstone document for organizations operating in Australia, establishing comprehensive frameworks for maintaining operational continuity and managing disruptions effectively. This policy becomes essential when organizations need to demonstrate robust risk management practices, comply with regulatory requirements, and ensure sustainable business operations. It typically includes detailed provisions for risk assessment, incident management, business continuity planning, and third-party risk management, while ensuring alignment with Australian regulatory requirements including APRA standards, the Security of Critical Infrastructure Act 2018, and industry-specific regulations. The policy is particularly relevant for organizations operating in critical sectors or those subject to prudential regulation, requiring regular review and updates to maintain effectiveness and regulatory compliance.
Suggested Sections

1. Purpose and Scope: Defines the objectives of the policy and its application scope across the organization

2. Definitions: Key terms and concepts used throughout the policy

3. Governance Framework: Outlines roles, responsibilities, and accountability structures for operational resilience

4. Risk Assessment and Management: Framework for identifying, assessing, and managing operational resilience risks

5. Critical Business Services: Identification and classification of critical business services and operations

6. Impact Tolerances: Definition and measurement of maximum tolerable disruption for critical services

7. Third-Party Risk Management: Requirements for managing operational resilience risks from external service providers

8. Business Continuity Management: Framework for ensuring continuity of critical operations during disruptions

9. Incident Management: Procedures for responding to and managing operational incidents

10. Testing and Assurance: Requirements for testing operational resilience capabilities and controls

11. Reporting and Communication: Framework for internal and external reporting of operational resilience matters

12. Review and Maintenance: Requirements for regular review and updates of the policy

Optional Sections

1. Technology Resilience: Specific requirements for IT systems resilience - include if organization has significant technology dependencies

2. Data Management: Specific requirements for data resilience and recovery - include if organization handles sensitive or critical data

3. Change Management: Procedures for managing changes that could impact operational resilience - include for organizations with frequent operational changes

4. Financial Resilience: Requirements for maintaining financial resources to support operational resilience - include for financial institutions

5. Location Resilience: Requirements for physical location redundancy - include if organization has critical physical premises

6. Regulatory Compliance: Specific regulatory requirements for operational resilience - include if organization is subject to specific regulatory frameworks

Suggested Schedules

1. Appendix A - Impact Assessment Matrix: Template and guidance for assessing operational impact levels

2. Appendix B - Critical Service Register: Template for documenting critical business services and their requirements

3. Appendix C - Incident Response Procedures: Detailed procedures for different types of operational incidents

4. Appendix D - Testing Schedule: Annual schedule and requirements for resilience testing

5. Appendix E - Key Performance Indicators: Metrics and thresholds for measuring operational resilience

6. Appendix F - Third-Party Assessment Template: Template for assessing third-party operational resilience

7. Appendix G - Communication Templates: Standard templates for incident and crisis communication

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant legal definitions
Operational Resilience
Critical Business Services
Impact Tolerance
Business Continuity
Operational Risk
Critical Infrastructure
Recovery Time Objective (RTO)
Recovery Point Objective (RPO)
Important Business Services
Incident
Major Incident
Crisis
Business Impact Analysis
Third-Party Provider
Critical Third Party
Vulnerability
Risk Appetite
Risk Assessment
Control Measures
Resilience Testing
Scenario Analysis
Service Level Agreement
Business Continuity Plan
Disaster Recovery Plan
Crisis Management Plan
Mapping
Monitoring
Key Performance Indicator (KPI)
Key Risk Indicator (KRI)
Material Outsourcing
Operating Environment
Significant Change
System Availability
Testing Program
Vital Records
Contingency Planning
Emergency Response
Resolution Time
Critical Staff
Risk Register
Incident Response
Change Management
Data Backup
Regulatory Requirements
Risk Treatment
Governance Framework
Control Environment
Assurance
Due Diligence
Recovery Strategy
Workaround
Disruption
Clauses
Purpose and Scope
Governance and Oversight
Roles and Responsibilities
Risk Assessment
Business Impact Analysis
Critical Services Identification
Impact Tolerance
Third Party Management
Technology Resilience
Information Security
Business Continuity
Disaster Recovery
Crisis Management
Incident Response
Change Management
Testing and Exercise
Training and Awareness
Documentation and Records
Monitoring and Reporting
Compliance
Review and Audit
Communication Protocols
Data Management
Resource Management
Performance Measurement
Quality Control
Emergency Response
Contingency Planning
Regulatory Reporting
Amendment and Review
Relevant Industries

Financial Services

Banking

Insurance

Healthcare

Energy and Utilities

Telecommunications

Transportation

Government and Public Sector

Critical Infrastructure

Technology and Digital Services

Manufacturing

Retail and Consumer Services

Professional Services

Education

Relevant Teams

Risk Management

Operations

Information Technology

Information Security

Compliance

Internal Audit

Business Continuity

Crisis Management

Procurement

Vendor Management

Quality Assurance

Emergency Response

Legal

Human Resources

Finance

Relevant Roles

Chief Executive Officer

Chief Risk Officer

Chief Operations Officer

Chief Information Officer

Chief Technology Officer

Head of Operational Risk

Business Continuity Manager

Risk Manager

Compliance Officer

Operations Manager

IT Security Manager

Business Unit Director

Audit Manager

Procurement Manager

Vendor Management Officer

Crisis Management Director

Emergency Response Coordinator

Resilience Officer

Quality Assurance Manager

Industries
Prudential Standard CPS 232 Business Continuity Management: APRA's prudential standard that sets requirements for regulated entities to implement a whole-of-business approach to business continuity management
Security of Critical Infrastructure Act 2018: Legislation governing the security and resilience of critical infrastructure assets in Australia, including requirements for risk management and reporting
Privacy Act 1988: Contains requirements for protecting personal information and maintaining secure systems, including the Australian Privacy Principles (APPs)
Prudential Standard CPS 234 Information Security: APRA's standard for information security management, including requirements for maintaining system resilience and managing information security incidents
Corporations Act 2001: Contains general obligations for company directors and officers regarding risk management and business operations
ISO 22301:2019: While not legislation, this international standard for Business Continuity Management Systems is widely referenced in Australian business practice and regulatory guidance
ASIC Regulatory Guide 259: Provides guidance on risk management systems for responsible entities, including operational resilience considerations
Critical Infrastructure Risk Management Program Rules 2022: Specific requirements for critical infrastructure risk management programs, including operational resilience measures
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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