SAMA BCM expectations require financial institutions to prepare for disruptions affecting critical processes, customers, markets, technology, providers, and operations.
Official sources
- SAMA Rulebook: Business Continuity Management Framework
- SAMA Rulebook: Introduction to the BCM Framework
What teams need to do
- Identify critical processes and business impact.
- Map people, technology, data, facilities, providers, and fourth parties.
- Maintain continuity, recovery, crisis communication, and testing plans.
- Track test findings, incidents, remediation, and management reporting.
Evidence to maintain
- Business impact analysis and critical process map.
- BCM plans, recovery strategies, and crisis communication records.
- Provider and technology dependency maps.
- Test results, incidents, remediation, and reporting.
Common gaps
- Provider dependencies are not included in BCM testing.
- Recovery assumptions are not validated.
- Findings are not tracked to closure.
How Halbarad helps
Halbarad helps map critical processes to providers, fourth parties, incidents, test evidence, issues, and remediation.
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.