Embedding Business Continuity Management into Business Culture: An Asian Perspective

Willem A Hoekstra

The global nature of banking means that there is always a tension between the ambition to be a single organisation, with centralised policies and standards, and the benefits of more local optimisation. Global frameworks also have to co-exist with national and local regulatory requirements, which are not always entirely compatible. This applies as much to an Asian bank operating in Europe or the US as it does to a western bank operating in Singapore, Hong Kong or Tokyo. National central banks and other regulators increasingly impose demands on items such as reporting and capital adequacy requirements. Business continuity (BC) is no exception to this, and most regulators require demonstrable operational resilience provisions.

The development of BC as a separate corporate function started originally in the US and Europe. Other regions have largely adopted the same approach, and with some creativity it is possible to combine local business continuity management (BCM) regulatory requirements with a global corporate policy. This does, however, provide a more fundamental challenge once holistic business risk and operational resilience dimensions are added to the mix. In order for BC