Important business service (IBS) refers to a critical function within a firm that, if disrupted, could pose a risk to a firm's stability and continuity. Identifying your IBS is a critical first step in ensuring that your firm is protected from disruption.
Option 1: Global Add button
Select top right Add > Important business service.
Option 2: Add IBS in Overview page
In Overview page > select Add an important business service.
1. Fill out IBS form
Admins need to fill out all the mandatory fields in the IBS form before saving the record.
Number - enter a unique number for this business service
Record Status - select Active / Inactive
Title - enter a title / name for this business service
Description (Optional) - enter a description for this business service
Criticality (Optional) - select the level of criticality
Priority (Optional) - select a priority
Justification - enter a reason to justify the importance of this business service
2. Set security
Once the IBS details is completed, click Set security button to go next
Select a Owner from the drop down list and set security setting for each Security groups. For additional information on Security, please refer to this page
3. Add a prevention plan
Measures (optional) - enter the measures you would take to present disruption to this business service
Justification for measures (optional) - enter the justification for your preventative measures
4. Document impact tolerance
Impact tolerance is set based on a harm threshold (e.g. disruption time reaches a level of harm). Where a disruption event exceed the threshold it is considered intolerable.
Overall - enter the overall number of days
Optional - Harm for customer, harm for the market, harm for your firm
Justification - enter your reason to justify the tolerance level
Harm or impact (optional) - select the level of harm or impact
Financial value (optional) - enter a value
Number of customers impacted (optional)- enter a value
5. Click Add button to save the IBS record 🎉