Basel Principles for Operational Resilience scenario testing with simulations
The Basel Committee’s 2021 Principles for Operational Resilience set out how banks should be able to withstand, adapt to and recover from severe adverse events.
iluminr simulations let teams rehearse the decisions Basel Principles for Operational Resilience cares about against severe-but-plausible scenarios, and keep a record of who decided what, and when. Run them as Microsimulations, full-scale simulations, or facilitated by our team of experts.
Simulations mapped to Basel Principles for Operational Resilience
Mapping is indicative. Confirm scope against your own obligations.
Frequently asked questions
What is Basel Principles for Operational Resilience?
The Basel Committee’s 2021 Principles for Operational Resilience set out how banks should be able to withstand, adapt to and recover from severe adverse events.
How do simulations help with Basel Principles for Operational Resilience?
Simulations let teams rehearse the decisions Basel Principles for Operational Resilience cares about against severe-but-plausible scenarios. iluminr keeps a record of who decided what, and when, which you can use as evidence of testing.
Which iluminr simulations map to Basel Principles for Operational Resilience?
Simulations mapped to Basel Principles for Operational Resilience include Claims Surge: Severe Weather, Connectivity Down: Severe Weather, Core Platform Outage: Rollback, Crisis Mode: Natural Disaster, Exit Plan: Vendor Insolvency and Flooded Future: Climate Reckoning, among others.
Who should take part?
These simulations are most often run with Executive & Board, Business Continuity, Operations and Crisis Management.
Can I build a 12-month Basel Principles for Operational Resilience testing program?
Yes. The iluminr program builder suggests a 12-month plan of simulations for Basel Principles for Operational Resilience. You can add or remove scenarios and export the plan as a PDF for your board.
Can we customize these simulations?
Yes. Run any template as is, tailor the roles, plans, critical services and injects to your organization, or build your own from scratch with the iluminr builder.
Is this mapping legal or compliance advice?
No. The mapping between simulations and Basel Principles for Operational Resilience is indicative. Confirm scope against your own obligations.