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In these two papers, the Bank of England and the FCA lay out how they want financial institutes to carry out a series of operational resilience activities to make the whole of the UK’s financial market more resilient, and that an incident in one organisation could have a major impact on other companies, leading to financial collapse.
I am going to explore the definition and requirements put forward by the Bank of England’s Discussion Paper of 2018: Two key papers. Therefore, within our business continuity strategies, we can inflict some of the pain associated with the incident on our customers, by them knowing that it is difficult to find another supplier.
All aspects of Business Continuity, including planning, training, stress testing and exercising of Business ContinuityPlans will be seen as a priority. Many professionals in senior roles did not understand, nor even care to understand business continuity and organisational resilience strategies.
All aspects of Business Continuity, including planning, training, stress testing and exercising of Business ContinuityPlans will be seen as a priority. Many professionals in senior roles did not understand, nor even care to understand business continuity and organisational resilience strategies. Work From Home.
They have crisis management plans in place, but they also dig deeper, look farther ahead. Consider that during the pandemic even organizations with thorough business continuityplans struggled. Many of them didn’t fully anticipate the widespread, long-lasting damage a pandemic could create.
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