What Is Resilience?
What is Resilience? – “The ability to react and learn from an event, risk or failure while continuing to function above a known baseline for a pre-defined period of time”
With recent events requiring an almost overnight pivot to digital and the deployment of new innovations to stay open remotely, institutions have onboarded, through necessity, a greater exposure to specific risks e.g., non-financial and 3rd Party risk.
Firms need to think harder about where resilience fits in their organisations this is especially relevant for regulated entities who will need to use a defined measure of their resilience via impact tolerance and ultimately for competitive advantage – in nature, as an example, eco-systems which are able to rapidly adapt to adversity not only survive to thrive in the long term.
Powerful Data Analytics Platform
The ORBITT framework allows a score to be attributed to the risk of the threat materializing based on the evidence available within a given business unit. The tool has been developed iteratively by series of industry experts with an underlying mathematical model to provide a method of quantifying the underlying risk factors.
An aggregated resilience scoring per factor is then generated with the output produced to allow visualization of outlying risks for discussion
What ORBITT Offers
Our ORBITT tool is used to help organisations surface unseen vulnerabilities and non-financial risks. The outputs are used to inform firm-wide strategy and in the development of exploratory scenarios.
Developed in-house using our Risk and modelling expertise and underpinned by expected elicitation from security experts from a number of different domains.
The Future Of ORBITT
As one of our key pieces of intellectual property, we are constantly looking to extend ORBITT.
The forthcoming releases looks to incorporate a far wider set of inputs covering every aspect of the business operations (Balances sheet to Marketing campaigns to geographical locations to HR policies)