Bylined Articles

Mar 01, 2005 • Bylined Articles

Business Continuity: Facing the Challenge

Ann Bergin, DTCC Managing Director, Wealth Management Services

Summary

September 11 changed ever ything - our outlook on the world at large, our personal and professional priorities, the things we took for granted.

Ensuring resiliency, redundancy and safety took on a heightened and blunt significance for the worldwide financial services industry. And no more so than within the infrastructure organizations that support and sustain the industry.

The exigencies thrust upon us called for a new level of strategic thinking, reinforced by the SEC’ s 2003 Interagency Paper on Sound Practices to Strengthen the Resilience of the US financial system. The paper identified three objectives: (1) Rapid recovery and timely resumption of critical operations following a wide-scale disruption; (2) Recovery following the loss or inaccessibility of staff in at least one major operating location; and, (3) robust testing to ensure that continuity arrangements are effective and compatible.


Download the Congressional Testimony: BERGIN - Facing the Challenge

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