Operational Resiliency Committee Content

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White Paper

2025 ICI Operational Resiliency Tabletop Exercise -Service Provider Disruption: After-Action Report

The 2025 ICI Operational Resiliency Tabletop Exercise, simulated a prolonged outage at AlphaPrime Trust Company caused by its fourth-party vendor, CoreDataX. The disruption affected critical processes such as trade matching, settlement, and client reporting, engaging 42 firms and over 50 participants to examine fourth-party risk and strengthen resilience beyond traditional cybersecurity concerns.

Committee

Operational Resiliency Committee

The ICI Operational Resilience Committee is a forum of senior leaders from ICI member firms with responsibility for ensuring the resilience of critical business services at the enterprise level. The Committee’s mission is to promote the exchange of insights, experiences, and leading practices that enhance the industry’s ability to anticipate, withstand, and recover from severe but plausible disruptions. Recognizing Business Continuity Planning (BCP) as a foundational element of operational resilience, the Committee will also continue to address crisis management, technology recovery, third-party resilience, and regulatory expectations. Its work is intended to strengthen operational resilience, safeguarding the continuity of essential services to investors and the broader financial markets, while encouraging adaptive capabilities that promote market stability and investor confidence.
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White Paper

ICI Cyber Industry Tabletop Exercise 2024: After-Action Report

The asset management industry relies on a complex web of service providers, creating layered outsourcing models that include fourth-party vendors. The 2025 ICI Operational Resiliency Exercise, hosted by Charles Schwab, tested industry response to a fourth-party outage at AlphaPrime Trust caused by CoreDataX. The simulation engaged 42 firms to address cascading risks from complex outsourcing and strengthen resilience beyond cybersecurity.

The asset management industry faces an escalating battle against cybercriminals employing increasingly sophisticated tactics. From state-sponsored attacks to ransomware-as-a-service (RaaS) platforms...