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Business Continuity Management
Prepare for the Unpredictable with Business Continuity
Natural disasters, pandemics, and other crises can hinder critical business functions, stop operations, or stop them altogether. These significant and possibly destructive “black swan” events can happen without warning and to unknown effect.
Business continuity planning is a vital component of a comprehensive risk management program. A business continuity (BC) plan assists businesses to minimize the impact of interruption and restore operations.
Practical business continuity planning:
1) Identifies risks to critical operations
2) Quantifies the potential impact of threats to the business
3) Implements measures and plans to ensure continuity during a disruption
4) Monitors for changes that could affect the plans and lead to disruptions
While corporations can’t foretell disruptions, they can prepare for them. Business continuity plans enable companies to respond quickly while guarding their business, assets, and reputation.
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What You Need
Risk Assessment
Identify risk indicators that can lead to business interruptions.
Modeling & Analysis
Gauge financial impact. Determine and account for likely chain reactions.
Continuity Planning
Develop recovery plans with asset priority and order of resources restored.
Visual Training
Annual training that provides employees with a deeper level of understanding of corporate fraud and appropriate ethical behavior
Ongoing Monitoring
Monitor risk indicators and import new third party risk assessments.
Testing & Reporting
Conduct tabletop exercises and generate analytics to test and refine plans.
Steps You Can Take to Maintain Business Resilience
STEP 1
Develop, maintain and automate a business continuity management plan (BCMP).
STEP 2
Make sure your policies and procedures conform with your BCMP.
STEP 3
Conduct automated, continuous third party due diligence to monitor risk indicators and update assessments.
STEP 4
Implement a robust internal reporting system to receive timely and accurate information critical for inform your risk assessment and BCM planning.
STEP 5
Train key audiences – including employees, leadership and third parties – on your BCMP to maintain continuity in the event of a business interruption.