Qualified Risk Director (QRD®): Directors’ Guide to BCM and ISO 22301
In today’s world, Board Directors are confronted with an ever increasing array of risks facing all businesses, including natural (meteorological, geological, or biological), human (accidental or intentional), and technological (power, telecommunications, hardware, software, and cyber security). The impact of these hazards can be catastrophic – whether directly affecting the organisation, or indirectly interrupting their supply chain, vendors, or business partners. Even small interruptions can cause damage to a company’s financials and reputation, which means that organisations, with appropriate Board oversight, need a way to prevent potential downtime before it occurs.
To ensure resiliency, or business continuity, Boards need to ensure that there are appropriate ongoing practices to manage risk and to be prepared for quick and effective response, recovery, and resumption of normal operations. As such, Board Risk Management Committees must ensure the effective incorporation of business continuity disciplines into their core management practices. In addition to safeguarding business interests, organisations have a responsibility to protect the life and safety of their people. ISO 22301 has many benefits, including more efficient resource use, improved risk management, and increased customer satisfaction. ISO 22301 specifies requirements to plan, establish, implement, operate, monitor, review, maintain and continually improve a documented management system to prepare for, respond to and recover from disruptive events when they arise. An effective Board should be aware of all relevant pertinent challenges and implementation issues in relation to BCM and ISO 22301.
Register for this standalone training module or enroll in the full Qualified Risk Director (QRD®) Certification Program.