Panel Discussion on Managing g Operational Risks: Business Continuity Planning
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1 8th SEACEN-CPSS Advanced Course on Payment and Settlement Systems For Emerging Economics Panel Discussion on Managing g Operational Risks: Business Continuity Planning Harry Leinonen 24 March 2010 The views expressed are those of the author and do not necessarily reflect the views of the Bank of Finland. SUOMEN PANKKI FINLANDS BANK BANK OF FINLAND 1
2 The more easy to understand physical and mechanical world SUOMEN PANKKI FINLANDS BANK BANK OF FINLAND 2
3 Engineering back-up solutions based on experiences Landing gear in both ends Doubled cross-piping and wiring Landing gear in both ends SUOMEN PANKKI FINLANDS BANK BANK OF FINLAND 3
4 Business continuity features based on Darwinian developments Two - legs -arms -eyes - ears - nostrils - lungs - kidneys - The ferry has 3 drivers and 1+1 own back-ups plus back-up agreement with other ferries but only one - heart -stomach - backbone - liver - SUOMEN PANKKI FINLANDS BANK BANK OF FINLAND 4
5 The new digital world has yet gathered only little experiences There are often critical points (single point of failure) without necessary back-ups SUOMEN PANKKI FINLANDS BANK BANK OF FINLAND 5
6 The importance of dependencies has grown rapidly 1. Consolidation - More central points with large impact 2. Specialisation - A small number of experts managing large world-wide systems 3. Automation - The capacity of manual back-ups are not sufficient 4. Integration - Everything affects evrything, a small critical part can turn down big systems 5. Software-based infrastructure - There are seldom true back-up programs and databases, just copies of the production versions 6. Process control - Back-up process and testing only made for single and probable problems 7. Globalisation - Dependence on global actors and their supplies 8. Rapid technology developments - Back-up solutions are also out-dated rapidly Quarterly economy and privatisation reduce back-up investments SUOMEN PANKKI FINLANDS BANK BANK OF FINLAND 6
7 The specialised structure of the digital world, the scheme of one internal company network SUOMEN PANKKI FINLANDS BANK BANK OF FINLAND 7
8 The payment process of a card purchase EMV chip-card and its internal applications Payment terminal secruity module, oper.system, communication system, and transaction processing application External network Network service provider and its communicaton systmes, routing applications and message processing systems Outsourcing partners for ICT and service production Acquirers data communication systems, customer databases, transaction processing, Internal account databases, security applications networks Visa Communication system of the Payment Payment MC Network, transaction processing systems, Network Security applications, monitoring systems Issuers data communication systems, customer databases, transaction processing, account databases, security applications Outsourcing gpartners for ICT and Internal service production network External Network service provider and its communicaton systmes, netwlri routing applications and message processing systems Cardholders e-banking applications and systems SUOMEN PANKKI FINLANDS BANK BANK OF FINLAND 8
9 Dependence on foreign systems in Finnish payments Nordea, Sweden OP-Pohjola, Equens, Germany ( ) Den Danske, Denmark Euroclear (APK), Belgium EBA, SEEBACH, Belgium SWIFT, Belgium, Switzerland, US TARGET2, Germany/Italy/France CASH-SSP, Belgium/Holland T2S, Germany/Italy/France/Spain CLS, USA A smaller and smaller part of the Finnish payment volumes are processed in Finland SUOMEN PANKKI FINLANDS BANK BANK OF FINLAND 9
10 Central issues in developing business continuity solutions in payments Service level to be maintained in abnormal situations? Structure of crises organisations? What kind of preparedness for abnormal situations? How much are invested up-front in business continuity? What kind of requirements on foreign service providers and how are these implemented? Which are the mandates for the different authorities in different situations? ti The international trends points towards the need for - more international authority cooperation and - more domestic investments in business continuity. SUOMEN PANKKI FINLANDS BANK BANK OF FINLAND 10
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