BACKGROUND

The world is facing nowadays an unpredictable series of crises. Barely, the Covid-19 pandemic situation is being controlled and the virus eradicated, a new challenge aroused that may have even more drastic impacts on the world economy, hence on the financial sector worldwide, namely the War in Ukraine.

How can financial institutions increase their resilience in face of unforeseeable crises affecting a whole market, be it local, regional or international? In such challenging situation only the fittest to adapt will stay in business. The survival of the fittest theory applies nowadays to the business arena.

The covid-19 stroke the world like a thunderstorm without any prior notice, and humanity was not prepared for such a hit that reshuffled the whole human practices and habits at all levels. Consequently, this affected the business model in different areas. What about the financial market? To what extent Banks have been affected, regarding the services rendered to the economy as well as with their internal processes and standard procedures.

Does conventional Business Continuity Management methodology and Crisis Management still valid? The concept of a remote business continuity site still provides the proper assurance?
Business Continuity and Crisis Management are no more technical issues, whereby specific functions in the institution are concerned. They are strategic matters discussed at the board level, and all levels of the hierarchy are involved.

OBJECTIVES

This Workshop aims to:k

• Raise awareness on the impact of a crisis on the bank and the banking sector.
• Identify the major changes to be applied on the business continuity model from a strategic and operational perspective, in order to cope with the unforeseen crises.
• Tackle the Digital Transformation horizon with the added values and hinders.
• Initiate the audience to a more agile Business Continuity Management System of PECB Exams and the Examination Rules and Policies.