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FBK Grant Thornton Helps Credit Institutions to Assess BC/DR Plans in Response to COVID-19

Date of publication
12.05.2020

FBK Grant Thornton has launched a new service, assessment and optimisation of BC/DR plans for credit institutions.  The service aims to find individual solutions for credit institutions to ensure business continuity.

Events associated with the COVID-19 pandemic and their impact on the economic situation in Russia and in the world indicate that credit institutions, being one of the fundamental elements of the financial system, have to continue their operations without any interruptions. The pandemic has given credit institutions a new and invaluable experience of the implementation of a BC/DR plan, a plan to provide for business continuity and/or disaster recovery in case of unusual or emergency events, to ensure that all business processes continue to operate effectively when employees work from home and when entities have limited resources in terms of labour force, financial assets, time and money. At the same time, the first real-life experience of the widespread implementation of BC/DR plans shows that it is unacceptable to treat their development and testing as a mere formality and that an effective BC/DR plan can significantly mitigate adverse consequences and reduce costs.

 

More detailed description of the service (in Russian) http://events.fbk.ru/plan_on_vd