Spotlight on Business continuity managementDocument Transcript
Business continuity management
Risk and capital The financial sector is leading the way as the business
management services community deals with the global risks of pandemic flu,
terrorism and climate change.
Business continuity management Business continuity has always been taken seriously by
Credit risk management the financial sector. But today’s threats have increasingly
widespread repercussions. Look at the operational impact
Impaired loan analysis
of hurricanes in Florida, terrorism in London or the likely
Information Risk Management (IRM)
human cost of a flu pandemic. The high impact and
Liquidity risk management
Market risk management
immediate nature of major operational disruption makes
Operational risk management business continuity not only mandatory for compliance
Risk and capital management purposes but business critical too.
Tax risk management
Summary case study
The increased frequency and likelihood of widespread disruption is putting
the financial sector under pressure to further improve its business continuity
arrangements. Collaboration is now of vital importance.
A sophisticated simulation of a major disruption to test marketwide coordination,
response, communications and decisionmaking. The exercise, which was
sponsored by the U.K. Tripartite Authorities (Financial Services Authority (FSA),
Bank of England and HM Treasury) and was carried out by KPMG in the U.K.,
included media and international dimensions, civil contingencies and business
continuance issues to thoroughly test the U.K.’s financial sector’s preparedness.
The exercise helped the continuing development of the financial sector’s
strengths, individually and collectively, to deal with major operational disruption.