8.2 Contingency Planning Process

This topic explains the Contingency Planning Process.

Contingency Planning Process

Data Center

The Data Center is a supporting unit that provides the following Data Processing services for the contingency planning process:

• FCIS, a PC/LAN
• Dedicated Leased lines (64 kbps or higher) VSAT connection depending on the financial strength of AMC
• Direct Telex
• Fax and Internet Connectivity is mandatory

Potential threats

The Data Center is considered to be a medium risk area and its disruption implies that the AMC, Customer Service, are rendered inoperable with a resultant loss of the AMCs reputation and customers.

The potential threats to the Data Center (and consequently to the other units of Operations) include:

• People related risk, E.g. illness, strike, sabotage.
• Natural disasters, E.g. fire, power failure, etc. rendering the premises and facilities unavailable.
• Equipment failure, E.g. failure of Main or Back-up Hardware, peripherals, workstations, printers, etc.,
• Software failure, E.g. abnormal termination of a program due to a database corruption or program bug.
• Support Line failure, E.g. failure of the link between the Oracle Financial Services Software Limited Support team and the AMC.

Preventive measures

The above risk factors should be analyzed and preventive measures should be described in detail.

Some of the recommended preventive measures are:

• Employees should be cross-trained at different jobs so that they can act as a backup for each other in case of absence due to illness, etc. A backup for the Fund Manger and System administrator is a must plus persons having maximum powers in an Agency and Register set up should also have a back up so that normal operations are not halted even in case of an emergency.
• Regular medical checkup should be arranged for the employees.
• Fire detection and suppression equipment, E.g. smoke detectors, fire extinguishers, Halon, etc. should be placed at all vulnerable locations.
• Main and Backup Hardware systems, printers and workstations should be serviced and maintained regularly.
• Service contract - The AMC should evaluate the need for a maintenance contract and document for Hardware and software.

A private, leased data-line should exist between Oracle Financial Services Software Limited and the AMC. A dial-up facility should also exist as a backup to access Oracle Financial Services Software Limited.

The contingency plan should be drawn to cover those functions critical to the business of the AMC. The contingency plan should contain personnel lists (organization chart, distribution list, authorizers of emergency measures, succession list and alternate account managers ,brokers list,agency details and client details), action plans, contact names and addresses and contingency planning documentation.