IBM 25999 Brochure - IBM Global Technology Services In the...

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In the spotlight: using BS 25999 to reduce risk and lower compliance costs IBM Global Technology Services
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2 Synopsis Organisations today have to comply with an ever-increasing number of regulations and legislation, a subset of which imply a requirement for effective business continuity and risk management. Adopting the new British Standard BS 25999, arguably the most comprehensive benchmark against business continuity good practice available, could reduce compliance costs by providing a single independently accredited certification that satisfies the business continuity requirements of most regulations and legislation. Furthermore, an effective business continuity management system can deliver other benefits. For example: through organisational improvements identified and enacted through its implementation, reduction of operational risk and a competitive advantage in the future, where BS 25999 certification may be sought by customers as some assurance of supply chain continuity. Risk? What risk? IBM has published the findings of a major new study, ‘Balancing risk and performance with an Integrated Finance Organization’, of over 1,200 chief financial officers (CFOs) and senior finance executives from 79 countries worldwide, which concludes that a surprising number of enterprises are not well prepared to handle the impact of a major risk event to their organisation. The study indicates that in the past three years 62% of enterprises with over $5 billion in revenue encountered a major risk event. When a major risk event did occur (such as strategic, operational or geopolitical) 42% of these enterprises were not well prepared for the event. “±The±failure±of±suppliers±and±supply± continuity±is±the±number±one±risk±± factor±of±28%±of±organisations.”± “Managing Risk in the Supply Chain: A Qualitative Study,” AMR, January 2007 Who owns risk? CFOs are increasingly becoming ‘owners’ of risk management within their enterprise and sharing ownership with the CEO. The same study found 61% of CFOs are expected to lead risk management within their organisation, followed by CEOs (50%), chief technology officers (27%) and chief risk officers (19%). A 2007 Economist Intelligence Unit Business Resiliency Survey highlighted that “76% of respondents agreed that operational risk should be an issue that involves all business units and 69% took a similar view about business continuity planning”. “±43%±of±CFOs±think±that±improving± governance,±controls±and±risk± management±is±their±top±challenge.” CFO Survey, IBM Business Consulting Survey Regulation, regulation everywhere… Organisations today sometimes see themselves as drowning in a sea of regulations and legislation, perhaps with good cause. Businesses today are arguably navigating the most intense period of regulatory change in history. Under such relentless tidal pressure, the next new wave of
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IBM 25999 Brochure - IBM Global Technology Services In the...

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