Operational Resilience Standard - Focus on Ratings

Question 1

What is the order of priority in C3 tiering?

Answer 1

1. Country
2. Company Critical
3. Customer Time-Critical
4. Customer Non-Time Critical
5. Company Supporting

Question 2

In C3 Tiering, what is the definition of Country?

Answer 2

Stability of market, economy, or payments ecosystem would be threatened.

Question 3

In C3 Tiering, what are some services/functions under Country?

Answer 3

• Electronic payments
• FX
• Cash supply

Question 4

In C3 Tiering, what is the definition of Company Critical?

Answer 4

Existence of organisation could be at risk e.g., liquidity risk.

Question 5

In C3 Tiering, what are some services/functions under Company Critical?

Answer 5

• Trading and settlement
• General ledger
• Risk functions
• Crime prevention

Question 6

In C3 Tiering, what is the definition of Customer Time-Critical?

Answer 6

There would be considerable detriment to end-users of the service.

Question 7

In C3 Tiering, what are some services/functions under Customer Time-Critical?

Answer 7

• Call centres (transactions and enquiries)
• Customer facing banking
• Property exchange and settlement

Question 8

In C3 Tiering, what is the definition of Customer Non-Time Critical?

Answer 8

Continuing to service existing customers and taking on new business whilst returning to BAU.

Question 9

In C3 Tiering, what are some services/functions under Customer Non-Time Critical?

Answer 9

• Cheques and similar
• Main focus is on priority service recovery (home loans, investors, etc.)
• Fulfil activities that could lead to loss of clients

Question 10

In C3 Tiering, what is the definition of Company Supporting?

Answer 10

Maintaining back office functions that support the delivery of other operations of the firm.

Question 11

In C3 Tiering, what are some services/functions under Company Supporting?

Answer 11

• IT Support and Security
• Asset management
• Legal/Audit
• Reporting