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Operational Resilience A Tier 1 UK fixed income manager

Front-office resilience — FCA-aligned, investment-grade

The FCA required the firm to demonstrate that it could sustain critical front-office functions — including trading and fund management — during severe IT outages to mitigate severe damage to itself, its clients and the wider market due to the size of fixed income holdings. The existing contingency arrangements were not capable of surviving an anti-ransomware attack or similar threat — I led an industry first solution.

What the client needed to solve

A new standard for operational resilience: teams across the business had to identify their most important business services, set impact tolerances, and demonstrate they could remain within those tolerances during disruption. For a front-office investment manager, the ability to execute trades and manage fund positions during an IT outage was a critical business service — and the existing contingency arrangements did not meet the required standard.

The programme needed to design and deliver a solution that would satisfy the regulator, protect the firm's ability to manage risk during an outage, and be operationally viable for the front office in a real crisis scenario.

How the work was structured

  • Mapped the firm's critical front-office business services and defined impact tolerances in line with FCA requirements
  • Assessed the existing contingency arrangements across trading, portfolio management, compliance, and operations — identifying gaps against the regulatory standard
  • Designed the new resilience solution: a firm-wide platform enabling trade execution and fund management continuity during severe IT outages, built around realistic crisis scenarios completely segregated from the production and backup environments
  • Collaborated with front office, risk, compliance, and operations to ensure the solution was operationally viable — not just theoretically compliant
  • Managed delivery of the technical and process components, including testing against defined crisis scenarios
  • Documented the resilience framework, procedures, and evidence pack for regulatory submission
Outcomes
FCA
compliance achieved — regulatory submission supported by documented evidence
Reduced
Operational risk from IT outage materially reduced across the investment floor
Tested
Crisis scenario testing completed — front office demonstrated ability to manage within impact tolerances