Toward Effective Business Continuity Management: A Check list and Instructive Practices
July 8, 2008
Financial Systems and Bank Examination Department
Bank of Japan
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- The Bank of Japan published a paper on sound practice, "Business Continuity Planning at Financial Institutions," in July 2003 in order to identify which issues need to be addressed in developing business continuity management (BCM). Based on the paper, the Bank has since been discussing BCM with financial institutions through on-site examinations and off-site monitoring. Many financial institutions in the process of developing BCM have expressed interest in knowing more specifically how to address each issue mentioned in the paper to establish effective BCM.
- Based on the framework of 2003 paper, this paper summarizes the issues to be discussed in the form of a check list, and presents instructive practices observed among the financial institutions in Japan.
- Given that the magnitude of a disaster and an expected level of recovery could differ, according to each individual financial institution's location and nature of business, there could be various approaches to BCM. In addition, instructive practices presented in this paper range from general to technical. By using this paper for reference, financial institutions could produce responses that would well suit their own circumstances and thereby steadily improve the effectiveness of their BCM.
- Financial Systems and Bank Examination Department of the Bank of Japan looks forward to enhancing its discussion with financial institutions regarding BCM in the hope of increasing the resiliency of Japan's financial and settlement systems in a disaster.
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Financial Systems and Bank Examination Department, Bank of Japan
C.P.O. Box 30, Tokyo 103-8660, Japan
For further information about this paper, please contact:
Toru Saito (Mr.) or Haruhisa Oyama (Mr.),
Financial Systems and Bank Examination Department,
Tel: +81-3-3277-1230, +81-3-3277-2513