Uniting business continuity management and operational risk management
Abstract
Over the last decade or so, risk management has seen an increase in regulatory requirements, as well as audit scrutiny. A side effect of this is that many disparate but related management programmes are being tied into a common point of conversation: operational risk management. This paper explores how business continuity is being synthesised under the umbrella of operational risk management — from the common points between operational risk management and business continuity to the benefits of uniting these programmes. The paper also explores other disparate but related programmes, to consider how continuity practitioners could take a slightly different approach to the business continuity planning process. Lastly, the paper will outline how uniting these programmes would benefit continuity practitioners.
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Author's Biography
Marce Farr is Vice President, Enterprise Change Management and Business Continuity Officer at LegacyTexas Bank. Marce is responsible for developing the bank’s enterprise change management programme and managing the business continuity programme. She received her Project Management Professional Certification from the Project Management Institute in 2005, her Certified Business Continuity Professional designation from DRI International in 2006, and her Member of the Business Continuity Institute designation in 2018.
Dan Bailey is the VP, Risk & Information Security Officer at LegacyTexas Bank in Plano, Texas. In this role, Dan is responsible for governing the bank’s operational risk management programme, as well as having operational responsibility for the bank’s information security and vendor management programmes. He has been actively involved in global risk management, resilience, business continuity and disaster recovery since 1991 and has been involved in information technology since 1985. Dan received his Certified Business Continuity Professional and Master Business Continuity Professional designations from DRI International in 1999 and 2002 respectively. He received his Fellow of the Business Continuity Institute in 2006 and he received his Governance, Risk, & Compliance Professional certification in 2013. Dan currently serves on Disaster Recovery Journal’s Executive Council.
Citation
Farr, Marce and Bailey, Dan (2019, June 1). Uniting business continuity management and operational risk management. In the Journal of Business Continuity & Emergency Planning, Volume 12, Issue 4. https://doi.org/10.69554/KDXS2647.
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