Article Posted date 25 August 2022
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In the first and second quarters of 2022, the Hong Kong Monetary Authority (HKMA) issued a new Supervisory Policy Manual (SPM) module OR-2 on “Operational Resilience”, a revised version of the SPM module TM-G-2 on “Business Continuity Planning”, as well as a revised SPM module OR-1 on “Operational Risk Management”. The modules provide detailed guidance on how authorised institutions (AIs) should develop and implement operational risk frameworks, as well as timelines for implementation.

This brief outlines the latest updates to OR-1, OR-2 and TM-G-2, key actions AIs need to take, and how KPMG can help.

Operational Resilience

Updates and revisions to OR-2, OR-1, and TM-G-2

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Tom Jenkins
Partner, Risk Consulting
KPMG China

Cara Moey
Director, Management Consulting
KPMG China