MAS business continuity management guidance focuses on preparing financial institutions to continue critical business services during disruptions. It is about resilience in practice: know the service, understand the impact, map dependencies, plan recovery, test the plan, and fix weaknesses.
Official source
What MAS is trying to do
Financial institutions should be able to respond to disruptive events without losing control of critical operations. Disruptions can come from cyber incidents, technology outages, provider failures, facility issues, staff unavailability, or external events.
What teams need to do
- Identify critical business services and disruption impact.
- Map people, process, technology, data, facilities, third parties, and fourth parties.
- Maintain continuity, crisis management, communication, and recovery plans.
- Test scenarios and remediate gaps.
- Report resilience posture to management.
Evidence to maintain
- Business impact analysis and critical-service maps.
- Continuity and crisis management plans.
- Dependency maps and provider records.
- Test results, lessons learned, and remediation.
- Incident and management reporting.
Common gaps
- Continuity plans are not connected to provider records.
- Scenario tests do not include third-party failure.
- Recovery assumptions are not validated.
- Management reporting hides dependency risk.
How Halbarad helps
Halbarad helps teams map critical services to providers, systems, fourth parties, incidents, tests, issues, and remediation. It keeps continuity evidence connected to operational dependencies.
Disclaimer
This guide is for general information only and is not legal advice. Review the official regulation, guidance, and supervisory materials, and consult qualified counsel or compliance advisors for your organization's specific obligations.