Business Continuity Planning - Program Initiation, Risk Management Research Paper

Business Continuity Planning - Program Initiation, Risk Management (Risk Evaluation) & Incident Management - Research Paper Example In this paper, the three areas of DRI professional practices will be discussed. NBC’s priority is to satisfy its stakeholders through an enhanced system of governance and risk management. To guarantee that their products and services will be available during disruptive events/ hazards, NBC provides this Business Continuity Planning Policy. This policy will enable the company to continue its banking operations and help in reducing losses in the midst of crisis. For instance, NBC has risk management policies, which are proposed, implemented, and reviewed by the Risk Management Group. These policies are approved by the Global Risk Committee under the authority of the Board of Directors. â€Å"These policies cover all the main risks defined in the Bank’s risk management approach and are reviewed on a regular basis...to ensure that they are still relevant given changes in the markets...† (National Bank of Canada 62). All the governance structures of NBC must adhere to these policies including the Office of the President, bank’s management , and business units (i.e. financial markets, wealth management, & personal & commercial banking). 1. Jean Douville, Chairman of the Board of Directors. He and the other corporate directors will approve risk policies for the bank as recommended by the Risk Management Board or the Global Risk Committee. 2. Louis Vachon, President and Chief Executive Officer. The Office of the President and the senior management will approve any credit facilities, but those credit applications (personal & commercial) that are beyond their limitations are endorsed to the BOD for final approval. 3. Business Unit/Division Managers (i.e. human resource, marketing, operations, risk management). This group has bigger responsibilities in terms of policy implementation and should regularly report to the senior management for the effectiveness of the policy. See appendix 1 for the names of the