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Volume 32, Issue 3

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Wednesday, 21 November 2007 00:07

Success: Coming Together as an Industry

Written by  Jay Grove, CBCP, CIBC and Carol Moffitt

The old saying 'two brains are better than one', holds true for the Financial Services Industry as multiple organizations come together to position themselves to manage through potential and real situations that could impact the industry and its members within. While unique for an industry to be so co-operative, the benefits to their clients continues to outweigh concerns. Introduction Business Continuity Management is intended to minimize risk to an organization - be it employee safety, building structure including infrastructure stability, systems and data integrity, reputation confinement, financial positioning, product/service partnering or Client/Shareholder securement. The need to continue business is paramount. To ensure that an organization or businesses within can manage through a potentially damaging situation is integral to its survival and success. This article will provide you some insight in how a number of organizations within the Financial Services Industry pooled its resources to be prepared.