BCM Industry Guide Financial Institutions

An Industry Guide to Business Continuity Management for Financial Institutions

This book is part of the BCM Industry Series.  It is a new series of BCM books that focuses on having a deeper understanding of the workings of a specific industry.  This range of books covers the different industries that are implementing their BCM initiatives. 

It includes financial institutions, airports, banks, business process outsourcing, educational institutions, facilities, the government sector, hotels, hospitals, hospitality, insurance companies, law and legal firms, malls, manufacturing, museums, and theme parks. 

Published Year: 2016 (1st Version Available for Internal Training Only)

An Industry Guide to Business Continuity Management for Financial Institutions

This BCM industry series for financial institutions or FI is intended to be a reference written explicitly concerning the process of implementing a BC Plan and procedures, a BCM program and an ISO2230 BCMS for the FI.

Business Continuity itself continues to be an evolving art, and it is relatively new compared to well-established practices such as law and accounting, and is subject to dynamic technology and business changes in the 21st century.  This BCM industry series for Financial Institutions will highlight common and vital aspects of BCM and provide detailed elaboration on ISO 22301. 

It will also not delve into detailed project management aspects of implementing a BC Plan. Organisations intending to do so should enlist proper expertise before embarking on their BC projects or pursue further reading from the author’s “BCM Planning” and “BCM Specialists” Series of books.

The approach adopted in this industry guide is to present a series of phases based on the BCM planning methodology.  These phases are cross-referenced closely with the stage within Clause 8 - Operations of the ISO 22301 standard.  Completing the deliverables in each phase within the BCM planning methodology will result in formulating and implementing the BC plan and procedures.

This book consolidates assorted BCM practices and key ideas into a single location. It attempts to clarify and link some of these practices and ideas, thereby providing practitioners with a better overview of BCM, ISO 22301 itself, and particularly the financial services industry.

The main steps are delineated as a significant part of the BCM Planning Methodology. These measures should be viewed as typical undertakings.  They are not universal activities that must be accomplished and should not be strictly performed by the sequence presented.  Examples are provided throughout the BCM industry series to explain the tasks to be undertaken.  The examples are not meant to be used as audit requirements.

The content of the book is to accomplish the following:

• Describe the content of a typical BCM Planning Methodology.
• Analyse and define the threats to BC in the organisation specific to the FSI.
• Prioritise threats and their potential risk impact on FI.
• Identify critical business functions and processes particular to the FI.
• Determine BC recovery options and strategy to be adopted for an FI
• Implement a response to ensure BC is in an FI.
• Define how to exercise, test and maintain the BC Plan and procedure.
• Utilise the best practice techniques contained in ISO 22301.

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