A Business Continuity Plan is required to ensure that essential functions of the organization are able to continue in the event of serious adverse circumstances.
Business Continuity Planning is a complex and important activity that affects the entire financial industry. Like all insurance activity, it is hoped that the business continuity plan is never required. However, in the event it is needed, our plan is designed so that Saturna Sdn Bhd recover effectively and quickly from a disaster, and that service disruptions are minimized and managed.
From power outages to major disasters, we plan to recover from even the most significant business disruptions and be operational in less than one business day. We do not close our offices for difficult weather conditions.
Saturna Sdn Bhd's Business Continuity Plan ("BCP") provides methods and procedures for restoration of mission critical services in the event of a natural or manmade disaster and other emergencies that result in partial or total service interruption of its business. The BCP is maintained at several locations. Saturna’s technical staff each have assigned roles in plan implementation, ensuring remote assistance, and that key suppliers, network components, and records are managed and restored.
Saturna's Business Continuity Plan serves as an important document to ensure that proper communications take place, that its network can be restored in the most efficient manner possible, to keep employees and infrastructure safe, and to minimize inconvenience to its customers.
Plan Key Elements
The BCP contains the following sections:
- Data back-up and recovery (hard copy and electronic);
- All mission critical systems;
- Financial and operational assessments;
- Alternate communications between customers and the firm;
- Alternate communications between the firm and its employees;
- Alternate physical location of employees;
- Critical business constituents, banks, and counter-party impact;
- Regulatory reporting;
- Communications with regulators;
- Customers' prompt access to their funds and securities;
- Step-by-step guide to recovery procedures; and
- Key Supplier Lists & Emergency Contacts (Equipment, Infrastructure, Utilities, Transmission Facilities, Other).
Saturna has a routine maintenance program that sends mission critical data to a wired, remote site daily. Saturna retains key database back-ups of volatile network elements, both on and off site. Vendor agreements are in place with critical suppliers for times of business interruption, and include technical support procedures to restore Saturna's ability to accomplish daily procedures and provide customers with all necessary support.
The Business Continuity Plan is the responsibility of Monem Salam, President. It is updated regularly by technical staff, tested randomly and reviewed annually by senior management to ensure understanding and compliance.