What is a Business Resilience Plan for Banking?
A business resilience plan for banking is a plan that outlines the strategies and processes that a bank or financial institution should undertake to ensure the continuity of operations, customer services, and financial transactions during a crisis or unexpected disruption. These plans should identify potential risks, assess their impact, and provide a comprehensive set of actions to ensure the bank's resilience in any situation.
What's included in this Business Resilience Plan for Banking template?
- 3 focus areas
- 6 objectives
- 6 projects
- 6 KPIs
Each focus area has its own objectives, projects, and KPIs to ensure that the strategy is comprehensive and effective.
Who is the Business Resilience Plan for Banking template for?
The Business Resilience Plan for Banking template is designed for banks and financial institutions to create their own business resilience plans. This template provides a comprehensive framework to identify risk sources, set measurable targets, implement related projects, and track risk activity to ensure the continuity of banking operations.
1. Define clear examples of your focus areas
Focus areas are the overarching categories that objectives, actions, and measures fall under. For example, a focus area could be Risk Management, Security, or Business Continuity. Each focus area should have clearly defined objectives and related measurable targets (KPIs) to ensure successful strategy execution.
2. Think about the objectives that could fall under that focus area
Objectives are the specific goals that the bank or financial institution aims to achieve under each focus area. For example, an objective under the Risk Management focus area could be to identify risk sources. The objective should be broken down into measurable targets (KPIs) to ensure successful strategy execution.
3. Set measurable targets (KPIs) to tackle the objective
Measurable targets (KPIs) are the specific goals that need to be achieved in order to reach the objectives. For example, the KPI to identify risk sources could be to have 10 potential risk sources identified. This KPI should be tracked over time to ensure successful strategy execution.
4. Implement related projects to achieve the KPIs
Projects (Actions) are the specific steps that need to be undertaken to achieve the measurable targets (KPIs). For example, to achieve the KPI of 10 potential risk sources identified, the related project could be to develop a risk register. These projects should be tracked over time to ensure successful strategy execution.
5. Utilize Cascade Strategy Execution Platform to see faster results from your strategy
Cascade is a platform that helps organizations create, execute, and monitor their business strategies. With Cascade, you can track progress on your objectives and measure the success of each project in real-time. This makes it easier to see faster results from your strategy and ensure successful strategy execution.