In a survey of 296 firms conducted in 2017 and 2018, the United Kingdom’s Financial Conduct Authority (FCA) found that the top three root causes of operational incidents were hardware and software issues, poor change management and third-party failures. These findings suggest that many companies and boards may have not successfully adjusted their risk profiles and strengthened their risk mitigation measures to truly understand and tackle the intricate web of technology risks.

In this article, Protiviti’s Ewen Ferguson and Hirun Tantirigama cover those risks and illustrate what organizations can do to achieve resilient business services.