Business Continuity Planning is the process that
identifies potential impacts which threaten an
organization and provides a framework for building
resilience and the capability for an effective response
that safeguards the interests of its key stakeholders,
reputation, brand and value creating activities.
The objectives of a Business Continuity Plan (BCP) are
to minimize loss to the organization; continue to serve
customers and financial market participants; and
mitigate the negative effects disruptions can have on an
organization’s strategic plans, reputation, operations,
liquidity, credit quality, market position, and ability
to remain in compliance with applicable laws and
regulations. Changing business processes (internally to
the institution and externally among interdependent
financial services companies) and new threat scenarios
require financial institutions to maintain updated and
viable Business Continuity Plans.