KEY COMPONENTS OF RENESOURCE CAPITAL BCM PROGRAM
Risk Analysis and Review
This process provides an analysis of the types of risk events that can interrupt business processes and is used to establish prevention and mitigation measures. It is also used in the business continuity planning stage to build resilient business continuity plans. Risk Analysis and Review provides a good basis for designing and carrying out simulation exercises and tests that will verify the BCP’s effectiveness.
Business Impact Analysis (BIA)
BIA identifies critical and non-critical business processes/functions and offer a better understanding of each business unit’s recovery requirements, costs related to the downtime, financial or reputational, etc. impact to the firm.
The BIA will aid in identifying the Recovery Time Objective (RTO/application restoration) and the Recovery Point Objective (RPO/data restoration) and the minimum level of services and/or products that are acceptable to Renesource Capital in order to achieve its business objectives during an incident, emergency/disaster or business interruption. Based on the results of the BIA, the business unit will formulate viable business recovery strategies to achieve the delivery of their critical activities and processes at an acceptable level within their RTO and RPO timeframe.
Business Continuity Plans (BCP)
All business units are required to have a BCP in place that is appropriate to the nature and scale of the business. The departmental BCP will document planned action and response to an emergency situation, its recovery of critical activities/processes, and identify how it will restore business activities back to its normal state of operations based on approved recovery strategies.
Key Renesource Capital business units and IT Operations processing locations have dedicated recovery facilities, that are located at a substantial distance from the primary office. The main principle is to duplicate, as much as possible, the functions and workflow processes that are in place in each "business as usual environment" (BAU).
Training is developed and conducted by the BCM staff to establish and support a BCM culture at firm. BCM training and awareness programs are categorized into three main areas: Basic, Management, and Specialized.