Regulation guide

HKMA OR-2 Operational Resilience

Operationalize the HKMA OR-2 Operational Resilience requirements—from regulatory obligations and evidence collection to vendor assessments, continuous monitoring, governance, and remediation workflows.

Overview

HKMA OR-2 focuses on operational resilience for authorized institutions. It asks institutions to identify critical operations, map dependencies, set disruption tolerances, test scenarios, and remediate weaknesses.

It applies to regulated organizations and other institutions within scope of the framework and requires organizations to identify, assess, govern, monitor, and manage risks introduced by material service providers, outsourcers, and operational dependencies throughout the entire relationship lifecycle.

Rather than prescribing identical controls for every relationship, the regulation emphasizes a continuous approach, requiring organizations to apply governance, oversight, controls, monitoring, and due diligence according to the criticality and risk of each relationship.

This implementation guide explains what the regulation requires, how those requirements translate into operational controls and evidence, and how Halbarad helps organizations operationalize compliance through assessments, continuous monitoring, governance workflows, and supply chain risk intelligence.

Official Sources

Operationalization Requirements

  • Confirm the current OR-2 module version.
  • Identify critical operations and disruption impact.
  • Map people, processes, systems, data, facilities, third parties, and fourth parties.
  • Test severe but plausible scenarios and track remediation.
  • Report resilience posture to management.

Evidence Requirements

  • Critical operations register and dependency maps.
  • Disruption tolerance and scenario test evidence.
  • Incident, issue, remediation, and reporting records.
  • Provider and technology dependency evidence.

Common Gaps

  • Critical operations do not include enough third-party depth.
  • Scenario tests are not severe enough.
  • Remediation is not tracked to closure.

How Halbarad Helps

Halbarad helps connect critical operations to providers, fourth parties, incidents, tests, issues, and remediation.

Disclaimer

This guide is for general information only and is not legal advice. Review the official regulation, guidance, and supervisory materials, and consult qualified counsel or compliance advisors for your organization's specific obligations.