Jurisdiction(s):
United Kingdom

Key definition

Operational resilience definition

What does Operational resilience mean? Operational resilience describes, in legal and regulatory practice, an organisation’s ability to prevent, withstand and recover from operational disruption so that critical services continue and harm to customers, markets and the financial system is not amplified. In the UK financial services sector it is a regulatory concept rather than a single statutory definition: FCA and PRA rules (e.g., SYSC 15A and the PRA Operational Resilience Parts) require firms to identify important business services, set impact tolerances, map and test severe but plausible scenarios, manage outsourcing/third‑party risk, and maintain communications and remediation plans. Boards are accountable and firms must remain within impact...

UK Operational Resilience Regime: FCA/PRA/BoE Rules on Important Business Services, Impact Tolerances, Mapping and Testing—Scope and Compliance Timeline (2022–2027)

Published by a LexisNexis Financial Services expert

Practice notes

This FLASHCARD is designed to help you take in or recall the essentials of the UK’s Operational resilience regime, covering the main obligations, the regime’s scope and the compliance timetable.

What is operational resilience?

Operational resilience is the capacity of firms and the financial system to prevent, adapt to, respond to, recover from, and learn from operational disruption. It goes beyond business continuity and disaster recovery and is a strategic focus for regulators worldwide.

What are the UK operational resilience Requirements?

Existing operational resilience expectations (e.g. Principle 3 of PRIN, and various provisions in SYSC within the Financial Conduct Authority (FCA) Handbook, together with the Operational Resilience section of the Prudential Regulation Authority (PRA) Rulebook) are reinforced by rules issued by the FCA in PS21/3 and by the PRA in PS6/21 and SS1/21. These require firms to:

identify ‘important business services’ (defined differently under the FCA and PRA rules) that could lead to ‘intolerable harm’

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Web page updated on 27/05/2026

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