Regulatory Alerts2020-04-14 | NRP-24Added · Updated
Technical Standards for the Business Continuity Management System
The Committee of Standards of the Central Reserve Bank of El Salvador issues technical standards requiring supervised financial entities to establish a Business Continuity Management System. The document mandates that entities, including banks, insurance companies, and investment fund managers, implement specific roles for the Board of Directors, Risk Committee, and Senior Management to oversee continuity planning. It requires the execution of business impact analyses, threat assessments, and regular testing of continuity plans to ensure operational resilience.
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