Anticipating every crisis scenario is nearly impossible in today’s complex environment. A key consideration is that multiple threats now may occur at the same time. It is unlikely that any institution’s business continuity plan accounted for these disruptions occurring simultaneously. However, this is the new reality in a climate in which customers, suppliers and regulators are interconnected across multiple channels. Planners must ask questions such as how their companies would handle a three-fold increase in transaction volume at the same time Internet access is shut down by a massive cyberattack or how they would respond to two hundred-year floods occurring in the same year. This must be done while also factoring in the extensive privacy and reporting regulations that are part of the financial services landscape.
Download this whitepaper to learn:
- The elements of a successful operational resiliency plan for financial services
- Why communication is critical during a crisis and how to incorporate it into your plan
- How critical event management can maintain business continuity and achieve your operational resiliency goals