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To quote the Business Continuity Institute - "Business Continuity
Management (BCM) is an holistic management process that identifies potential impacts
that threaten an organisation and provides a framework for building
resilience and the capability for an effective response that safeguards the
interests of its key stakeholders, reputation, brand and value creating
activities."
In Financial Services, regulatory changes are ensuring that BCM
must be a
process driven from the top of the organisation and not the other way around.
With the FSA keen to see effective BCM deployed at strategic level in all
financial organisations and the Basel 2 regulations calling for BCM to be
established at industry good practice levels, planning and managing
for effective BCM is now firmly established as a key component in any
organisation's approach to Operational Risk Management.
BCM should
therefore include disaster recovery, business recovery, business resumption,
contingency planning, crisis and emergency management - together with
all the necessary testing, training, communication and maintenance of
whatever plan the organisation puts in place, to ensure that it is effective
when it is most needed.
In response to
this critical and specialist requirement, Lexington offers two
components comprising a comprehensive solution in this area:
·
We have
established our own BCM Practice to provide in depth consulting support to
clients, to assist in the development of BCM strategy and plans.
·
Because having an out of date BCM Plan is almost as bad as having no
Plan at all, we are working with Glen Abbot - Scotland’s leading supplier of
Business Continuity Services to offer enVisionBCM a comprehensive web-based
management tool to ensure you have the most current information available
where and when you need it.
enVisionBCM facilitates the
following:
- Organisation
of people, process and technology
in one integrated repository
- Simple
and effective plan distribution
- Collaborative
and consistent plan management
- Management
of vendors, hardware, and software
- Attachment
of documents to plans
- Identification
of key personnel
- Management
of plan revisions
- Plan
maintenance
- Recording
the results of BCP testing.
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