Historically, building design codes have been governed by life-safety performance standards with minimal emphasis on other socioeconomic impact measures. However, recent advancements in earthquake engineering have put in motion a national-level initiative to have functional recovery as a target performance objective. While the importance of this effort has been broadly acknowledged by engineers and policymakers, there is a need to develop efficient regional scale computational strategies for evaluating the performance and cost-benefit implications of these resilience-based standards. This talk will discuss ongoing efforts to formulate an efficient computational framework for performing high-fidelity high-resolution seismic risk and resilience assessments of large building inventories. The framework harnesses automation, optimization, and distributed computing to render high fidelity and resolution risk-based seismic assessments computationally feasible. A case study will be presented  on a risk-based seismic loss and functional recovery evaluation of more than 15,000 residential woodframe buildings in the City of Los Angeles.  The presentation will also address how further gains in computational efficiency could be achieved with minimal loss in accuracy by varying the spatial resolution of the building inventory and seismic hazard characterization.