Business Continuity Plan Mas

In addition to prevention the goal is to enable ongoing operations before and during execution of disaster recovery.

Business continuity plan mas. A business continuity plan bcp will give you the best shot at success after an unanticipated event. Mas will endeavour to update the guidelines in response to international developments as they evolve. What is business continuity planning bcp.

A business continuity plan is a document that outlines how a business will continue operating during a service disruption. Operational risk monetary authority of singapore. An organization s resistance to failure is the ability.

1 2 2 one of mas key supervisory objectives is for institutions to have continuity plans in place to allow the continuation of critical business operations and fulfilment of business obligations in the event of disruptions. It involves procedures that ensure employees security and allow them to continue doing their work despite disastrous events and other unfavorable circumstances. The plan ensures that personnel and assets are.

With a little creativity dedication and planning your organization will be on its way to a safer future in no time. Business continuity planning is the readiness to manage business interruptions in order to provide continuity of services at an acceptable level and to safeguard the financial institution s fi s financial and competitive position. The goal of these plans is to prevent business operations from.

Guidelines on business continuity management monetary authority of singapore 3 1 preface 1 1 the monetary authority of singapore mas first issued the business continuity management bcm guidelines in 2003. Addendum to the mas guidelines on business continuity management bcm issued in 2003 providing additional guidance to assist financial institutions in their bcm efforts. Naturally not every business continuity plan will cover the same territory so not every single item will be relevant to every plan.

Business continuity planning or business continuity and resiliency planning is the process of creating systems of prevention and recovery to deal with potential threats to a company. Learn how you can create a bcp for your organization with this step by step guide to create a reliable plan that works. How to create a strategic business continuity plan in line with mas regulations.