Accelerating transformation in resilience through sector-wide scenario exercising
Abstract
This paper explores the outcomes of WISE 2023, a sector-wide exercise conducted within Hong Kong’s financial sector, focused on business continuity management (BCM) and enhancing operational resilience in response to emerging crises. The exercise tested financial institutions’ crisis response capabilities through scenariobased simulations, fostering improvements in BCM, crisis communication and regulatory compliance. Key insights from WISE 2023 highlight the critical importance of early engagement in the planning process, building a diverse and collaborative core team, and clearly defining objectives to evaluate success. The exercise also underscored the value of incorporating external expertise and technology to enhance realism and coordination. Role clarity and strong leadership were essential for effective execution, while embedding the exercise within a broader, continuous programme fostered long-term resilience. The findings emphasise that post-exercise reviews, continuous stakeholder engagement and iterative learning are vital to maintaining preparedness and operational resilience. This paper provides BCM practitioners and exercise professionals with valuable lessons for improving crisis response in the financial sector. This article is also included in The Business & Management Collection which can be accessed at https://hstalks.com/business/.
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Author's Biography
Ben White MSc, BSc (Hons), MBCI, is a Principal Consultant at 4C Strategies with over 18 years’ experience delivering operational resilience, business continuity programmes and crisis management solutions to a diverse range of clients, including leading global brands. His expertise spans projects across the public, private and military sectors, covering areas such as public health, emergency management, counterterrorism, telecom resilience and corporate crisis management. Before joining 4C Strategies, Ben spent ten years with the London Fire Brigade’s Emergency Planning Department, where he last served as Deputy Head of Emergency Planning. He holds an MSc in risk, crisis and disaster management from Leicester University and is a Member of the Business Continuity Institute.
Hannah Suiter is a Delivery Analyst at 4C Strategies specialising in incident response and crisis management. Hannah works with organisations around the world to improve their crisis management capabilities and enhance their resilience through managing and delivering programmes of training, exercising and surge capacity support. With over four years’ experience in international development programmes, Hannah brings expert knowledge in conflict monitoring, global risk assessment and project management for the benefit of the organisations she works with. Hannah holds an MPhil (distinction) in development studies from the University of Cambridge, and an MA (first class) in international relations and sustainable development from the University of St Andrews.
Citation
White, Ben and Suiter, Hannah (2025, August 17). Accelerating transformation in resilience through sector-wide scenario exercising. In the Journal of Business Continuity & Emergency Planning, Volume 19, Issue 1. https://doi.org/10.69554/EKTT6281.
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