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Operational Resilience
Add important business services
Add important business services

Learn more on how to add your important business services (or critical operations).

Christine Wong avatar
Written by Christine Wong
Updated this week

ℹ️ This feature is only accessible to Administrators.

Important business services (also known as critical operations) refers to a critical function within a firm that, if disrupted, could pose a risk to a firm's stability and continuity. Identifying your important business service is a critical first step in ensuring that your firm is protected from disruption.

You can follow the steps below to add important business services to fit your organisation's resilience strategy.

Option 1: Add from Overview tab

In Overview page, select Add an important business service.



1. Complete mandatory fields on the Details tab

  • Complete the required fields on the Details tab as described in the table below. Optional fields are not mandatory but can be filled in as needed.

Field Name

Description

Number

Enter a unique number for this business service.

Record Status

Choose Active or Inactive.

Title

Enter a title / name for this business service.

Description (Optional)

Enter a description for this business service.

Criticality (Optional)

Choose the criticality level: Low, Medium, or High.

Priority (Optional)

Choose the priority: Low, Medium, or High.

Justification

Enter a reason to justify the importance of this business service.

  • Click Set security to proceed to the next screen.


2. Set security

  • Select a primary Owner for this business service from the drop-down list.

  • Tick the appropriate security settings for each Security Group.​

    💡 Tip: The Positions included in each security group can be viewed by clicking on the > icon. Viewing this may assist with deciding who needs access and at what level.

❗Security

Positions in Security Groups with ‘Edit’ access can:

  • Open and edit the details of the record.

  • Create the child entity of the record (e.g Users with “Edit” permission for an IBS can create its Critical Process)

  • Delete the record.

Positions in Security groups with ‘View’ access to a record can:

  • Open and view the details of the record.

Positions in Security groups with ‘No access’ to a record will not be able to see the record at all.

3. Add a prevention plan

  • Measures (optional) - enter the preventive measures you would take to present disruption to this business service.

  • Justification for measures (optional) - add a 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 exceeds the threshold it is considered intolerable.

  • You can measure impact tolerances against your customer, your firm and the market, with the ability to list the financial option and the number of customers affected.

    ⚠️ Good to know: You can define impact tolerance using either days or hours by updating time unit settings.

  • Complete the required fields on the Impact Tolerance tab as described in the table below. Optional fields are not mandatory but can be filled in as needed.

Field Name

Description

Overall

Enter the overall number of days or hours.

Harm for Customer

Enter the number of days or hours.

Harm for the Market (Optional)

Enter the number of days or hours.

Harm for your Firm (Optional)

Enter the number of days or hours.

Justification

Enter your reason to justify the tolerance level.

Financial Impact (Optional)

Enter a value.

Number of Customers Impacted (Optional)

Enter a value.

5. Click Add button to save the record 🎉


Option 2: Global ➕ Add menu

  • Click the global ➕ Add menu at the top right, then select Important business service.

  • Complete the same steps (Step 1 to Step 5) mentioned above to fill out the details, set security, add a prevention plan, and document impact tolerance.


Next step

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