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BCM and ERM: What’s the Difference?

Castellan

At a high level, it may seem natural to use the terms business continuity management and enterprise risk management interchangeably. While there are some congruences between them, there are some unique distinctions that separate the two, and in many regards, they’re actually completely different business functions.

BCM 98
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DORA: Moving Beyond the Basics of Compliance and Implementing a Cross-Functional Approach to Resilience

Fusion Risk Management

But don’t fret – this does not mean that your business continuity (BC) team must suddenly become IT experts! They simply must understand, as BC practitioners, that IT could be a source of disruption and, therefore, work to embrace their portion of the business as it contributes to operational resilience.

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TSPs: Making the Case to Invest in Risk and Resiliency

Fusion Risk Management

Technology and data service providers (TSPs) have become critical contributors in the successful operations of every organization. Think about it: if your technology or data warehouse were to fail, could you continue running your most critical business services? Or, as so well articulated by the great British writer C.

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Sensing the Tremors of Disruption

Fusion Risk Management

Pandemics were on national risk registers and scenario exercised with national agencies in the UK and US just a couple of years prior; Russia annexed Crimea in 2014, setting itself up to be able to effectively target a resource rich Ukraine; and in borrowing so much during lockdown, we couldn’t avoid a state of rising inflation this year.

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Hurricane Season is Approaching ? Are You Prepared?

Fusion Risk Management

Business Continuity and IT Disaster Recovery Plans. Companies should be able to identify their critical business critical business functions and critical assets (typically identified by conducting a business impact assessment). Delivering critical business services to customers ? Preparedness is Key.

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Clarity from Chaos: the Global Regulatory Challenge

Fusion Risk Management

Globally speaking, general requirements of all financial services firms include the ability to map their important or critical business services and interrogate all of the processes, assets, and resources that support those services, both in house and in their supply chain.

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Hurricane Season is in Full Effect ? Are You Prepared?

Fusion Risk Management

To help with this, it is crucial that organizations invest in operational resilience and business continuity programs so that risk practitioners can more easily identify their business processes, important business services, and the key personnel responsible for those. Can the work be deferred?