Regulatory Alerts2013-02-06
Business Continuity Management
The Supervisor of Banks mandates that all banking corporations implement a comprehensive business continuity management framework to ensure resilience against major operational disruptions. The directive requires boards and senior management to establish governance structures, conduct business impact analyses, and maintain detailed recovery strategies for critical operations and services. Banks must also define specific recovery objectives, test their plans regularly, and ensure adequate insurance coverage and vendor dependency mitigation.
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