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 FAC 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 BCM Institute's Professional Training and Certification 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) BoK Competency Level BCMBoK 0: OR Fundamentals CL 1OR: Foundation (OR) (Source: Business Continuity Management Institute - BCM Institute)

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