Important Business Services

1. Important Business Services is a service provided by an organisation, or by another person on behalf of the organisation, to one or more clients which, if disrupted, could: cause intolerable harm to any one or more of the organisation’s clients or pose a risk to the soundness, stability or resilience of the financial system or the orderly operation of the financial markets. Notes (1): For precise usage of this term, refer to FCA and PRA regulations whereby they outline what constitutes an “important business service” Notes (2): Example of Banking Business Services includes Cash transactions, Lending, Deposit-taking, Treasury, Private banking, Wealth management, Investment banking, Corporate finance and Trade services Notes (2): Example of Insurance Business Services includes Claims servicing, Policy renewal and servicing, and Policy inception Click to know more OR courses Related Term: Operational Resilience, Important Business Services, Critical Business Services, Critical Operations, Critical Business Function, Levels of harm, Intolerable harm, Harm, Inconvenience, Important Business Services OR Body of Knowledge OR Competency Level OR BoK 1: P1 Plan CL 1OR: Foundation (OR) OR Body of Knowledge OR Competency: Phase & Stage OR BoK 6: P2 Implement P2-S1 Identify Critical Business Services OR Body of Knowledge OR Competency Level OR BoK 1: P1 Plan CL 1ORA: Foundation (ORA) BCMBoK Competency Level BCMBoK 0: BCM Fundamentals CL 1B: Foundation (BC) BCMBoK Competency Level BCMBoK 0: BCM Fundamentals CL 1C: Foundation (CM) BCMBoK Competency Level BCMBoK 0: BCM Fundamentals CL 1CC: Foundation (CC) BCMBoK Competency Level BCMBoK 0: BCM Fundamentals CL 1D: Foundation (DR) (Source: Business Continuity Management Institute - BCM Institute)

Click to know more about OR training

A Manager’s Guide to Operational Resilience (eBook)