Financial Risk Management

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Plan Development Template: Recovery Procedure Page 1 Copyright @ GMH Pte Ltd

Plan Development Template: Recovery Procedure Page 2 Copyright @ GMH Pte Ltd

Recovery Procedure: Financial Risk Management (FRM)

• WHAT
  • Provide risk management oversight on financial institutions.

Green and Yellow

• HOW

• Mobilise the Intervention Steering Committee. This steering committee is mobilized at the start of any intervention activity, regardless of whether there is any disaster or pandemic flu or not.
• Business as usual for activities except to implement additional precautionary measures (as per human resource and risk management policies) to protect health and safety of employees, both onsite and offsite employees.
• Identify contingency manpower resources to mitigate risk of staff shortage. e.g. source from other divisions and service providers.
• Identify potential alternate sites for activation (e.g. service providers’ office, service apartment and hotel).
• Implement daily temperature and contact tracing procedures for employees, service providers and visitors.
• Establish processes and procedures with Central Bank for coordination.
• Coordinate with Central Bank, troubled financial institutions and service providers on their contingency plans in the event the pandemic worsens and the pandemic BCP is activated.
• Establish personnel roster. (Includes staff from other BUs.)

Orange and Red

• HOW

• Outbreak in country but not in Organization
  • Mobilise the Intervention Steering Committee.
  • Monitor and track staff attendance.
  • Update personnel roster.
  • Coordinate with Human Resource and BCP Team.
  • Business as usual for FRM activities except minimize face-to-face meetings. Substitute with other modes of communication, e.g. video conferencing.
  • Implement precautionary measures as per Human resource and Risk management policies. If there were any intervention staff overseas, to follow HC/ERM policies on staff travelling overseas.
  • Identify contingency manpower resources to mitigate risk of staff shortage. Eg source from other divisions and service providers.
  • Ensure alternate site is ready for use.
  • Ensure that procedures are in place to enable staff to work when under quarantine.
  • Ensure joint-contingency plans with Central Bank, troubled MI and service provider are ready for implementation at anytime.
  • Coordinate with Central Bank, troubled Financial institution and service providers on their contingency plans in the event the pandemic worsens.
  • Update CMT, BCP Team and Human resource on status and progress.

• Outbreak in Organization(office is not closed and FRM Unit is not affected)
  • Mobilise the Intervention Steering Committee for healthy staff.
  • Critical, healthy staff shall continue to work from office.
  • Encourage well but quarantined staff to work from home if they are non-critical. If they are critical to intervention, to quarantine them in 1 location (e.g. alternate site).
  • Activate infrastructure to allow quarantined staff to work from quarantine site and to communicate with staff in office, service providers, Central Bank and any other parties (eg via tele or video conferencing).
  • Impose additional healthy and safety measures on quarantined staff (e.g. temperature taking every few hours, mask-on at all times).
  • Mobilise additional manpower resources from other divisions and service providers.
  • Activate joint-contingency plans with Central Bank, troubled financial institutions and service providers, where necessary.

• Outbreak in Organization (office is not closed and entire FRM Unit is quarantined)
  • Mobilise the Intervention Steering Committee for healthy staff.
  • Quarantine uninfected FRM Unit staff at alternate site.
  • Activate infrastructure to allow quarantined staff to work from quarantine site and to communicate with staff in office, service providers, Central Bank and any other parties (eg via tele or video conferencing).
  • Impose additional healthy and safety measures on quarantined staff (e.g. temperature taking every few hours, mask-on at all times).
  • Mobilise additional manpower resources from other divisions and service providers. These will work from Organization or their respective offices and communicate with FRM via tele or video-conferencing.
  • Activate joint-contingency plans with Central Bank, troubled Financial Institutions and service providers, where necessary.

• Outbreak in Organization (office is closed)
  • Mobilise healthy Intervention Steering Committee and critical, healthy staff involved in intervention at alternate site. Other non-critical, healthy staff shall work from home.
  • Impose additional healthy and safety measures on quarantined staff (e.g. temperature taking every few hours, mask-on at all times).
  • Activate procedures to allow working while under quarantine.
  • Where possible, meet via tele or video conferencing. Minimise face-to-face meetings.
  • Activate joint-contingency plans with Central Bank, troubled MI and service providers.