A rapidly growing financial services company needed to update their Business Continuity program. The growth of the company did not provide the time to focus on their recovery requirements and the old plan was quickly out of date. In order to reduce their risk of downtime and a need to quickly recover the business if any disruption were to occur, the client decided to implement a best of class Business Continuity Program.
MLC was selected after a competitive review. MLC’s selection was based on our expertise and methodology. The project required a full Business Impact Analysis (BIA) which encompassed business processes, people, technology, and vital records. MLC worked with every division and built a relationship of trust very quickly. This enabled MLC to perform efficiently throughout the organization, detailing the business processes, technology requirements, organization management, and process dependencies. In addition, MLC was requested to create the recovery plans for all areas of the company, develop an emergency communication structure, and provide strategies for recovery. Other tasks included response, recovery and resumption training, training personnel (business and technology) on how to update and manage the program.
Finally, the client wanted to test their investment by having MLC develop and create a major disaster simulation. MLC decided to create an exercise which would affect their headquarters and surrounding buildings. The exercise included executive management, each business unit, and technology recovery teams. Furthermore, local police, fire, and utilities companies participated. The disaster required all teams and exercised the communication flow, decision making process, press releases and interviews, and actual use of their business resumption plans. The outcome of exercise was successful and provided a realistic exercise of their capabilities. In addition, further recovery process improvements were identified and captured for analysis and recommendations.
The client was able to eliminate or minimize potential business risks and brought itself up to a new level of business continuity capabilities. Executive management was able to focus on areas that needed mitigation and improve business and technology processes. This provided excellent recovery documentation, but also, enhanced their process improvement initiatives. Divisions were able to understand how each business process flowed, what technology was needed for recovery, and prioritized the recovery of business. The client and MLC built a maintainable best of class Business Continuity Program, trained personnel to administrate it, identified areas for improvement, prepared recovery strategies, and prepared the company to recover from a business disruption.
Due to the detailed MLC Business Impact Analysis process, MLC was able to work between the business units and Information Technology to ensure they were aligned with each other for recovery. As a result of the process, the business departments and Information Technology discovered gaps and were then able to strategize (with MLC’s guidance) solutions and new initiatives to ensure successful business/technology recovery. In addition, as new business processes were implemented, technology teams were engaged to provide a recovery solution.