[OR] [P3-S5] [1-4] Prepare IQR: Data Preparation

[1-4] Data Preparation for IQR

Data preparation is a crucial step in the IQR process, ensuring the reviewer can access the necessary information to conduct a thorough and objective assessment.

By carefully identifying, collecting, organizing, and protecting relevant data, you can provide the reviewer with a solid foundation for their evaluation.

Key considerations for data preparation include identifying relevant data sources, ensuring data quality, organizing the data effectively, and protecting sensitive information.

This process may involve creating a data inventory, utilizing data management tools, and collaborating with stakeholders to access and gather the required data.

Purpose

Data preparation is a critical step in the IQR process.

Collecting and organizing relevant data can provide the reviewer with the information needed to conduct a thorough and objective assessment of your organization's operational resilience program.

Key Considerations

Data Identification: Identify the types of data that will be required for the IQR. This may include:
- Risk assessments
- Business continuity and disaster recovery plans
- Incident reports
- Audit reports
- Performance metrics
- Employee training records
- Regulatory compliance documentation
Data Collection: Gather the necessary data from various sources, such as internal systems, databases, and physical files.
Data Quality: Ensure the data is accurate, reliable, and up-to-date.
Data Organization: Organize the data in a clear and logical manner, using a consistent format.
Data Security: Protect sensitive data and ensure compliance with data privacy regulations.

Additional Tips

Create a Data Inventory: Develop a comprehensive list of all relevant data sources to ensure that no important information is overlooked.
Use Data Management Tools: Utilize data management tools to organize, store, and analyze the collected data.
Consider Data Privacy: If dealing with sensitive data, ensure that appropriate measures are in place to protect privacy and comply with regulations.
Involve Relevant Stakeholders: Collaborate with stakeholders who have access to the required data to ensure its completeness and accuracy.

By effectively preparing the necessary data, you can provide the reviewer with the information they need to conduct a thorough and insightful IQR.

This will help identify areas for improvement and enhance your organization's operational resilience.

Additional Explanatory Note

Definition	Explanation	Definition
Self-Assessment	is to capture and document the steps taken towards operational resilience. is to provide a comprehensive and objective evaluation of the organisation's strategy and ability to respond to disruptions.
Self-Assessment Document	is to demonstrate the organisation’s resilience journey and how they have achieved compliance with the regulations.
Important Business Service	is a service provided by an organisation, or by another person on behalf of the organisation, to one or more clients which, if disrupted, could: cause intolerable harm to any one or more of the organisation’s clients, or pose a risk to the soundness, stability or resilience of the financial system or the orderly operation of the financial markets.
Critical Business Service	is a business service that, if disrupted, is likely to significantly impact the FSI’s safety and soundness, its customers or other FSI that depend on the business service.
Critical Operations	is defined as a business output that, if interrupted during the operational period, will cause financial loss, damage, or interruption to the delivery of goods or services essential to the organization’s continued operation or success.

"Sustain" Phase of the OR Roadmap

Introduce Culture Change	Develop Communication Strategy	Implement Training and Awareness	Provide Self-assessment	Conduct Independent Quality Review

More Information About Operational Resilience OR-5000 [BL-OR-5] or OR-300 [BL-OR-3] Course

To learn more about the course and schedule, click the buttons below for the OR-3 Blended Learning OR-300 Operational Resilience Implementer course and the OR-5 Blended Learning OR-5000 Operational Resilience Expert Implementer course.