Transcription of BUSINESS CONTINUITY MANAGEMENT GUIDELINES
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BUSINESS CONTINUITY MANAGEMENT GUIDELINES
Monetary Authority of Singapore BUSINESS CONTINUITY . MANAGEMENT GUIDELINES . June 2003. GUIDELINES ON RISK MANAGEMENT PRACTICES JUNE 2003. - BUSINESS CONTINUITY MANAGEMENT . TABLE OF CONTENTS. INTRODUCTION .. 1. READINESS IS YOUR ONLY PROTECTION .. 1. APPLICATION OF THE GUIDELINES .. 3. GLOSSARY .. 5. BUSINESS CONTINUITY MANAGEMENT 6. PRINCIPLE 1: BOARD OF DIRECTORS AND SENIOR MANAGEMENT . SHOULD BE RESPONSIBLE FOR THEIR INSTITUTION'S. BUSINESS CONTINUITY MANAGEMENT .. 6. PRINCIPLE 2: INSTITUTIONS SHOULD EMBED BUSINESS . CONTINUITY MANAGEMENT INTO THEIR BUSINESS - AS-USUAL OPERATIONS, INCORPORATING SOUND. 7. PRINCIPLE 3: INSTITUTIONS SHOULD TEST THEIR BUSINESS . CONTINUITY PLAN REGULARLY, COMPLETELY, AND. 8. PRINCIPLE 4: INSTITUTIONS SHOULD DEVELOP RECOVERY. STRATEGIES AND SET RECOVERY TIME OBJECTIVES. FOR CRITICAL BUSINESS FUNCTIONS.. 10. PRINCIPLE 5: INSTITUTIONS SHOULD UNDERSTAND AND. APPROPRIATELY MITIGATE INTERDEPENDENCY RISK.
GUIDELINES ON RISK MANAGEMENT PRACTICES JUNE 2003 - BUSINESS CONTINUITY MANAGEMENT MONETARY AUTHORITY OF SINGAPORE 1 1.0 INTRODUCTION 1.1 READINESS IS YOUR ONLY PROTECTION1 1.1.1 The global financial system is a set of interlinked networks of markets, systems, and participants. While financial institutions (“institutions”)2 acknowledge the need …
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