A Business Continuity Institute (BCI) Forum event was held last week at analytics and decision management provider FICO's London offices, and focused on helping UK companies prepare their risk assessment, resilience and continuity planning for the upcoming London Olympics.
More than 35 business leaders across the public and private sectors attended the event "Preparing Like a Champion for the 2012 Olympics" to explore preparedness and recovery with business continuity and risk management experts. The meeting was a forerunner of Business Continuity Awareness Week, which runs March 19-23.
"The 2012 Olympics has put business continuity planning front and center for UK businesses, which see it as an essential element of a robust approach to risk management across their enterprise," said Brian Kinch, a senior partner for FICO.
The meeting included an evaluation of cyber attacks and the impacts on the payments market, which have emerged as a focus for Olympics preparedness.
"The BCI and its members are taking a proactive approach to protecting business from both the unprecedented traffic of the Olympics and from the escalated risk of terrorist or criminal attack, and FICO is pleased to have been able to help foster this multi-industry discussion," Kinch continued.
In November 2011, the Financial Services Authority, the Bank of England and HM Treasury conducted a "market-wide exercise" that tested UK financial institutions' preparedness for a cyber attack. Following the February 2012 report on this exercise, the three organizations and financial institutions have focused on strengthening protection against cyber terrorism that could disrupt the UK payments system.
"The market-wide exercise showed that the banking community is prepared to handle some aspects of a cyber attack, but must shore up other areas. I encourage all managers to think about whether they are have adequate, practical plans in place to overcome the immediate communications issues and continue urgent business following a major incident," said Derek Mason, founder of Simple Business Continuity Solutions.
The Business Continuity Institute has nearly 7,000 members in some 100 countries. More information, including a listing of Business Continuity Awareness Week events, is online at www.thebci.org.