Building a Robust Emergency Programme for Pandemics In Financial Services Lessons from SARS (2003) and Avian Flu Outbreak (2006
The Asian Banker, May 2009
The continuous emergence of high pathogenic influenza outbreaks in Asia, Europe, the Near East, South America and Africa is not expected to diminish in the next decade and the potential threat of a pandemic, a worldwide outbreak of a new influenza virus, calls for a permanent integration of dealing with pandemics in financial institutions? business continuity planning.
With Mexico as the epicentre of the outbreak, and more than 20 countries suspecting the "Swine Flu" infections, the World Health Organization on 29 April 2009 raised its alert level from four to five on its six-level scale. More than 1,300 confirmed cases of swine flu have been reported by various countries such as Mexico, the United States, Canada and 12 countries in Europe.
Going on alert level 5, the agency determined that the virus is capable of significant human-to-human transmission - a major step toward a pandemic. So far, this is above the highest alert level Avian Flu caused in 2006. Asian countries are already taking precautionary measures by putting airports and hospitals on alert.
The Asian Banker has launched a Pandemic Preparedness Survey between 4th and 7th May 2009 with a random sample of 35 banks out of 140 financial services institutions, which are part of the Excellence in Retail Financial Services Programme. This survey identifies valuable lessons the financial industry learnt during the SARS as well as the Avian Flu outbreaks and brings together tactical and operational issues to build a comprehensive contingency programme for a bank.
The report also illustrates the findings from an earlier survey of international banks identifying key elements on how to prepare for future pandemics.
The report is for:
- Heads of Corporate and Strategic Planning
- Executives responsible for Business Continuity Planning
- CIOs and Senior Executives in Operational Risk Management
- HR Managers
Executive summary
Assessing the preparedness of banks in Asia
- Our assessment of the level of preparedness for pandemics in the financial services industry
- Important assumptions of a working BCP model for a pandemic
- Characteristics of preparedness and classification of banks in Asia
- Assessment of existing BCP templates of banks in the region
- Developing a quantifiable assessment of the preparedness of banks
- Preparedness of regulators in the region in guiding their respective countries through a pandemic
- Assessment of infrastructure in the financial services industry
- Comparing pandemics with natural disasters
Developing a comprehensive Business Continuity Programme (BCP) for pandemics
- How BCP practices have changed with recent events
- Lessons from SARS and Avian Flu
- Vital ingredients of a comprehensive BCP for a pandemic
- Adapting a BCP for global operations
- Broad BCP and recovery objectives
HR Management During A Pandemic
- Key goals for HR management
- Avenues for developing additional pools of HR
- Staff awareness and training
IT Investment and Infrastructure
- General investment priorities of banks today
- Key areas of investment within a BCP framework
- IT planning process and capacity addition
- Providing telecommuting capabilities
- Managing distribution channels of banks
Communication Networks of Banks during Pandemics
- Constituents of a comprehensive communication plan for a pandemic
- Channels of communication and their management
- Constant communication and guidance from regulators
Key Lessons
- Organisational information and work flows
- BCP facilities based on criticality
- Reduce dependence on cash-based transactions
- Planning process and organisational identity will develop new meaning
Appendix: Our template for a well run BCP and key questions for assessing the
- preparedness of banks for pandemics
Customers who bought this item also bought
All rights reserved. © Copyright 2013 Research and Markets WWW4
Terms and Conditions Privacy Policy Publishers Employment Opportunities Site Map Link to us Webmaster Affiliate Network
