Cross Market Operational Resilience Group (CMORG)
Financial Services - London, England, United Kingdom
Cross Market Operational Resilience Group (CMORG) Employees
Cross Market Operational Resilience Group (CMORG) Details
The Cross Market Operational Resilience Group (CMORG) supports the improvement of the operational resilience of the financial sector through public-private collective action. The group forms the strategic focal point for sector wide operational resilience discussions and is supported by a number of specialist industry groups. These groups design, manage, and deliver operational resilience improvement projects on a voluntary and collaborative basis for the stability of the sector, the safety and soundness of firms, and to protect customers.CMORG operates on the principle that its outputs and interventions should benefit all in the sector, and any of its contingencies or interventions should be accessible beyond its core membership. CMORG actively supports the principle of strong competition within the sector.Objectives I. To identify risks to the operational resilience of the financial sector. II. To develop solutions to improve the operational resilience of the sector. III. To share knowledge for the benefit of all. Industry governance Specialist groups support CMORG to deliver outputs to the benefit of the sector, with a focus across technology, cyber and information security, sector exercising, incident response, and business continuity. These groups are represented across retail, wholesale and capital markets, insurance, mid-tier and global banks.CMORG-endorsed capabilities (including good practice guidance, response frameworks and contingency tools) have been developed collectively by industry to support the operational resilience of the UK financial sector. The financial authorities support the development of these capabilities and collective efforts to improve sector resilience. However, their use is voluntary, and they do not constitute regulatory rules or supervisory expectations; as such, they may not necessarily represent formal endorsement by the authorities.
