Business Continuity Management' - PowerPoint PPT Presentation

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Business Continuity Management'

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CFTC Compliance Rule 2-38. SEC Policy Statement. FSA Paper 142 Consultation Paper ... Anatomy of a Storm. Naval Research Lab. Anatomy of a Storm (continued) ... – PowerPoint PPT presentation

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Title: Business Continuity Management'


1
Business Continuity Management.
Caribbean Association of Indigenous Banks
November 2005
  • Jeremy Smith, Practice Leader
  • Enterprise Risk Services

2
Agenda
  • Introduction to Business Continuity Management
  • Lessoned Learned from Hurricane Ivan
  • Summary

3
Introduction to Business Continuity Management
4
Benefits of Business Continuity Management and
Crisis Management
Development period for a new problem.
Improvement in the curve due to early warning of
problems
5
BCM Regulatory Summary
  • Legislation and regulations are focusing on
    protection of the entire financial market,
    escalating BCM as a key regulatory requirement.
  • Business Continuity Management Drivers
  • NASD Rules 3510, 3520 and NYSE 446
  • OCC and SEC White Paper
  • ICSA
  • CFTC Compliance Rule 2-38
  • SEC Policy Statement
  • FSA Paper 142 Consultation Paper
  • Risk Management Drivers
  • GLBA HIPAA, PIPEDA
  • Sarbanes-Oxley
  • Basel II

6
Continuity has moved from Operational to
Management Imperatives
7
A Framework for Business Continuity
This approach assumes the development of a long
range capability more than just a plan.
8
Lessons learned from Hurricane Ivan
9
Anatomy of a Storm
Naval Research Lab
10
Anatomy of a Storm (continued)
  • UN Economic Commission for Latin America and the
    Caribbean (ECLAC)
  • Total damage US3.5 billion 2 yrs Cayman GDP
  • Estimate US95,625 per person
  • By Sector
  • 53 Social US1.88 billion
  • 33 Production US1.2 billion
  • 14 Infrastructure US420 million

11
Tips from Lessons Learned
  • Separate primary and backup sites
  • Investigate working from alternative
    jurisdictions
  • Pre-clear permits and operation license with
    regulators, legal counsel, and relevant
    authorities

Geographical Disbursement
Dual-sited Organisations
  • Engineer fail-over and Disaster Recovery
    capability
  • Test backup sites regularly

12
Tips from Lessons Learned
Transportation
  • Develop strategies in advance (e.g. plane
    charters, reserved flights and vehicle fuel
    storage)
  • Setup remote working ability

Communication Plan
  • Automated notification systems - multiple devices
    (cell, email, land line)
  • Setup backup cellular networks (e.g.
    blackberries, PDA)
  • Predefined/agreed messages

13
Tips from Lessons Learned
Service Level Agreements
  • Agreements in place (transportation, DR, etc)
  • Conduct vendor risk assessments
  • Test recovery capability of vendors

Plan Maintenance and Testing Critical
  • Scenario driven crisis management and business
    recovery plans (evolve during major
    reorganisations/systems conversions)

14
Tips from Lessons Learned
Chain of Command
  • Crisis leadership that can quickly mobilize
    invocation procedures
  • Pre-agreed roles/responsibilities and levels of
    authority
  • Encourage counseling services
  • Succession planning
  • Assist employees personal recovery
  • Engage remote working or non-critical employees
  • Prepare for compassionate situations (family
    bereavement)

Human Aspects
15
Summary
A member firm of Deloitte Touche Tohmatsu
16
In Summary
  • Financial Institutional Objective
  • Decide risk position as it relates to
    increasingly strict BC regulation and lessons
    learnt
  • Seek clear demonstration of response recovery
    capability from your organisation
  • Ensure all critical operational and physical
    components are integrated into your approach
  • Finally…Evaluate your BC programme in its
  • entirety

17
Member of Deloitte Touche Tohmatsu
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