There is provided a storage system comprising a control layer operable to manage a snapshot family (SF) constituted by SF members having hierarchical relations represented by a SF relationship data structure and a method of operating thereof. Upon receiving a command for restoring a writable SF member from a read-only snapshot thereof, the control layer provides a foreground atomic operation. The atomic operation comprises generating a new writable snapshot of the read-only snapshot (a destination SF member), modifying the SF relationship data structure, and re-assigning all logical unit numbers (LUNs) from the writable SF member to be restored to the destination SF member. Upon successful completion of the atomic operation, the control layer sends acknowledgement indicative of successful restoring the writable SF member. The control layer further provides a background process comprising modifying, in correspondence with the provided atomic operation, a SF mapping data structure comprising mappings between logical and physical addresses corresponding to SF members.