Case study 4

"Sometimes perception is betraying you. You need to use a systematic approach to analyse and determine your risks."

"What is the #1 risk that we are facing ?"

 

Background

 

Environment and situation

A financial institution was reviewing their bussiness continuity, crisis managment and security plans. In a low threat environment it was hard to nail down the real risk. At the same time there was a low apetite amongst the top management to spend money if no substantial information was motivating an increased level of risk management.

 

Analyses

The client who operated in a percieved low risk environment was briefed on the methodology of the risk assessment. This covered statistics specific to the financial sector with global examples where risk has been neglected and caused major impact in terms of financial losses affecting the reputation of the bussiness.

 

What was the effect?

 

  • A full assessment was carried out and revealed that the focus of the present plan was of target. The number one risk was not mitigated in a proper way.

 

  • Anstey Group asisted the responsible staff in the briefing for the top management and it was decided to allocate resources for the next step.

 

  • An optimized risk mitigating program with focused measures was implemented and all documentation was aligned with the framework of the institution.

 

  • When audited the institution was using the documents produced by Anstey Group during the assignment.

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