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Business Continuity Planning Checklist
Risk Assessment and Business Impact Analysis
Identify critical business functions and processes within the firm.
Determine the potential impact of various business disruptions on these critical functions.
Assess the probability of different types of disruptions, such as natural disasters, cyberattacks, or power outages.
Emergency Response and Operations
Establish an emergency response team with clear roles and responsibilities.
Create evacuation, shelter-in-place, and lockdown procedures.
Ensure that employees are trained on emergency response procedures.
Communication Plan
Develop a communication strategy for internal and external stakeholders during a disruption.
Maintain a current contact list of employees, clients, suppliers, and emergency contacts.
Test and update communication plans and tools regularly.
Data Protection and Backup
Implement regular data backup procedures for all critical information.
Ensure backups are stored in a secure, offsite location.
Test data recovery processes to verify the integrity of backups and minimize downtime.
Alternative Work Arrangements
Identify alternative work sites or remote work options for employees.
Ensure employees have the necessary equipment and access to work remotely.
Test remote access systems to ensure functionality during a disruption.
Vendor and Client Management
Assess and document the reliance on external vendors and service providers.
Develop contingency plans with key vendors to ensure continued service and supply.
Communicate with clients about contingency plans and how services will be maintained.
Training and Awareness
Train employees on business continuity policies and procedures.
Conduct regular exercises and drills to test the effectiveness of the plan.
Review and update the business continuity plan annually or after significant changes.
Legal and Compliance
Ensure the business continuity plan complies with industry regulations and legal requirements.
Document all actions taken during a disruption for potential legal review.
Consult with legal counsel to understand any obligations or liabilities that may arise during a disruption.
