Banking, Insurance and Life Insurance (prudential standard) determination No. 2 of 2014 - Prudential Standard CPS 232 - Business Continuity Management
Business impact analysisBusiness impact analysis
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Business impact analysis
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A BIA involves identifying all critical business functions, resources and infrastructure of the regulated institution and assessing the impact of a disruption on these.
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When conducting the BIA, the regulated institution must consider:
(a) plausible disruption scenarios over varying periods of time;
(b) the period of time for which the regulated institution could not operate without each of its critical business operations;
(c) the extent to which a disruption to the critical business operations might have a material impact on the interests of depositors and/or policyholders of the regulated institution; and
(d) the financial, legal, regulatory and reputational impact of a disruption to a regulated institution’s critical business operations over varying periods of time.