Operational Resilience at DTCC

Since DTCC’s founding 50 years ago, resilience has been at the heart of our value proposition. It is embedded in our services, it is a central component of our culture, and it is among our most important priorities. Resilience is a journey, and as we partner with the industry, our resilience capabilities will evolve. This website outlines DTCC’s current protocols and practices designed to mitigate risk and secure the capital markets.

Operational Resilience

DTCC_EC_Review_Website_Images-15.jpg

Overview

Powering Resilient Markets

Operational resilience is generally defined as the ability to prevent, withstand and quickly recover from disruptive events to continue providing critical business services.

Ensuring operational resilience is a common answer to “What keeps you up at night?” for many financial organizations globally. DTCC is focused on ensuring operational resilience and is helping drive industry-wide efforts to keep financial systems running in the face of disruptions, such as pandemics, natural disasters, cyber-attacks or technology failures. This is a key strategic enabler that is consistent with our mission to deliver the world’s most resilient and secure post-trade infrastructure for our clients.

Resilience Strategy

As a result of accelerating international regulatory expectations, financial institutions like DTCC are reassessing their approach to operational resilience. As the nature of risk continues to evolve, DTCC reviews and – as needed – refines its approach to resilience to ensure a robust program is in place to support business needs and plan for potential incidents.

Resilience Through Partnership

Advancing Operational Resilience

  • Rapid but safe recovery from various types of disruptions
  • Client tools for business resumption
  • Increased client communication for disruptions
  • Enhanced testing for disruption scenarios
  • Integration of financial authority obligations for operational resilience

Advancing Operational Resilience

  • Rapid but safe recovery from various types of disruptions
  • Client tools for business resumption
  • Increased client communication for disruptions
  • Enhanced testing for disruption scenarios
  • Integration of financial authority obligations for operational resilience

Resilience Framework

Leveraging existing modernization efforts across DTCC will increase the opportunity to adopt new solutions to strengthen resilience, therefore enhancing client experience and decreasing risk for the organization. Our operational resilience framework includes:

  • An enterprise-wide definition and application of operational resilience
  • Oversight and escalation protocols
  • Holistic, enterprise-wide business resilience metrics and reporting
DTCC_EC_Review_Website_Images-06.jpg

Incident Management & Crisis Response

When an unexpected service disruption or degradation occurs, impacting clients’ ability to perform normal operations, DTCC works to restore service as quickly as possible.

Throughout the process, DTCC provides updates to clients and the industry when:

  • A potential or confirmed service disruption is identified
  • We identify and investigate a potential issue
  • There is a change in status or other incident details

Timely Incident Communications.

Communicate early and often throughout the incident lifecycle to clients and internal stakeholders

  • Communicate promptly when a potential or confirmed service disruption is identified.
  • If the impact is unknown at the start of an incident, provide an early warning to clients by notifying them that "we are investigating a potential issue."
  • Provide updates every 30 minutes, or sooner if there is a change of status or other incident details.

Communicate early and often throughout the incident lifecycle to clients and internal stakeholders

  • Communicate promptly when a potential or confirmed service disruption is identified.
  • If the impact is unknown at the start of an incident, provide an early warning to clients by notifying them that "we are investigating a potential issue."
  • Provide updates every 30 minutes, or sooner if there is a change of status or other incident details.

Resources

Recovery and Resolution Planning Video

This pre-recorded session was led by members of DTCC’s Recovery and Resolution Planning (R&R) team and will provide clients and other external stakeholders with insights into the following topics: Continuity of Access to DTCC Firms in Resolution as well as an overview of the DTCC SIFMU Recovery and Wind-Down Plans. At the conclusion, a panel of representatives from DTCC’s Risk, Treasury, and Legal departments join the R&R Team to address some of the most frequently asked questions concerning these topics.

recovery-and-resolution-planning-video-thumbnail.jpg