Effective Business Continuity Governance and Compliance for Financial Institutions
- Duration: 16 hours
- Skill Level: All level
- Language: English
Financial institutions are not only required to put into effect business continuity and disaster recovery arrangements but also to have the appropriate level of governance of their BCM program overseen by senior management. Effective BCM governance includes having in place a suitable program structure, communication framework, policies, standards, compliance measurements and reporting.
This two‐day course is designed specifically for intermediate and advanced BCM practitioners and business managers to help them improve the governance and sustainability of their BCM programs, and to better understand, plan, and manage the challenges arising from customers’ demands, changing international standards and practices, and regulatory / compliance requirements on business continuity in the financial services sector.
At the end of the program, participants will also gain insights into how operational risk tools can be applied for identifying inherent and residual risks within the BCM program and the development of risk mitigating factors.
- Mid to senior‐level management with experience in managing and implementing BCM program, including Chief Operating / Administrative / Risk Officers, Experienced BCM executives and managers, Business Heads and Business Line BCM Coordinators, and Internal Audit and Compliance Officers / managers
At the end of this course, you will be able to:
- Understand the BCM operational and compliance requirements in the financial services sector and how to implement an appropriate BCM governance framework to meet these requirements
- Be able to carry out a risk‐based internal assessment into the ‘soundness’ of their BCM programs in line with today’s heightened threat environment, demands from customers and regulatory expectations
- Have the tools and techniques to ensure that the business continuity agenda is appropriately reported, discussed, monitored and tracked in a systematic manner.
- Introduction and overview o BCM trends and practices in the financial services industry o Aligning BCM internal requirements, financial industry regulatory guidelines and international BCM standards
- Understanding and establishing BCM planning standards o Understanding criticality definition o Identifying appropriate business continuity strategies o Business recovery plan documentation and “Playbook” o Alignment of business requirement and technology capability o
- Understanding interdependencies with internal and external parties, including outsourced service providers, vendors and other financial institutions Understanding and establishing BCM testing standards o
- Establishing testing program, roles and responsibilities o Developing appropriate testing strategies o Monitoring and reporting Establishing and sustaining sound BCM governance model ‐ integrating BCM agenda into location risk governing body o About risk control and oversight function o Reporting and attesting program readiness based on agreed reporting metrics o Identifying risk issues and developing agreed action plans for remediation o Risk and Control Self‐Assessment (RCSA) – an effective operational risk management tool in identifying and assessing business continuity program readiness
- Getting ready for inspections; o Setting up protocols through an inspection engagement model o Case study discussion
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