However, having documented plans and procedures in place is only one element of a resilience framework, and firms must ensure also that their personnel understand them and have been appropriately trained in how to implement them. While the increased use of technology can lead to vulnerabilities if it is not properly implemented, maintained and managed, it is also the case that firms are looking to technology to provide solutions and facilitate resilience. For example, third party cloud solutions may provide a more modern, secure and resilient infrastructure than a firm’s own legacy IT systems, as long as any risks of outsourcing are understood and managed.

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