BCP in Financial Services 2014

A CityIQ Survey

Introduction

• Background • Recovery Facilities• Staffing • Budgets• Cloud• Testing• Benchmarking• Challenges• Summary

This was our third survey of BCP in

financial services, previously

undertaken in 2011 and 2014.

Which of the following 3rd party services does your organisation use?

Off site data centre space / hosting has become the norm.

Staffing

10+ 5-10 2-5 1 0 Don't Know

3% 3%

24%

32% 32%

8%

22%

11%

33%

22%

9%

2%

2012 2014

There has been a significant increase in

the number of BCP staff since 2012.

Budgets

Increase Decrease Stay the Same Unknown

31%

9%

60%

0%

38%

5%

55%

2%

2012 2014

BCP budgets look set to increase for the

third survey in a row.

Expected Business Continuity related expenditure in the next 2 years?

Additional third party workplace recovery facilities (increased size or additional location)

Increased spending on remote working capabilities

New or increased spending on automated business continuity planning tools

New remote hosting capabilities for IT

New data vaulting or data replication facilities

New telephone recovery services (e.g. VOIP, SIP)

Additional internet related recovery facilities (e.g. increased remote access capacity, cloud data recovery)

28.90%

50.00%

31.60%

60.50%

34.20%

31.60%

57.90%

20%

69%

20%

40%

34%

37%

57%

2012 Percentage 2014 Percentage

The increased expenditure looks set to go on new remote hosting

capabilities.

Cloud computing technologies as part of business recovery strategy?

Half of respondents are not using cloud

computing technologies at all.

Testing

Crisis m

anag

emen

t plan

s

Workp

lace r

ecove

ry fac

ilities

IT rec

overy

faciliti

es

Email

reco

very

faciliti

es

Remote

working f

aciliti

es

94% 97% 100%

76%88%

66.70%77.80%

91.70%

50.00%

83.30%

2012 Percentage 2014 PercentageSince 2012 the

amount of testing has reduced noticeably.

Main reasons for not testing all parts of BCP Plans in the last 12 months

Why the reduction in testing? Belief that it is not required as part of normal working, along

with budget restrictions and insufficient resources

Invocations of BCP Plans in last five years

Once Twice More than twice No

20%

5%

18%

58%

Plans do get used – perhaps even more

than we had expected.

Accreditation / Benchmarking

Interestingly all of the large firms submit plans for accreditation. Of the

smaller firms 43% do not.

Changing Priorities

2010 2012 2014

Increased Regulatory Oversight

New Systems

Organisational Restructuring

External Risks

Cost

Relocations

Sponsorship

Planning Tools

1

2

3

4

5

6

7

8

Perhaps unsurprisingly, increased regulatory oversight has risen to the top of the priority

list.

In Summary

• BCP IT Budgets Going up• BCP staff in smaller firms up• Testing Down• Regulatory Oversight now

No 1• Off site data centre hosting

the norm – capacity growing

• Use of Cloud – Growing• Large firms benchmark,

small firms don’t

The highlights…...

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