Disaster Recovery Plan For Standard Chartered Bank Information Technology Essay

Everybody does planning these days. People make plan for everything and look forward for the future. Developing a plan before starting any work is helpful and helps to run ahead. Every organization create business polices and procedures. They have their own rules and regulation. In this paper I have developed a disaster recovery plan for a Standard Chartered Bank. This bank deals with stocks, equities, and different types of investments. This is multinational company. There are many branches all over the world. In this paper I have developed DR plan for different location. I have mentioned how to keep office, customers, employees, and valuable assets safe if any disaster occurs. We cannot guarantee of anything therefore; there must be always DR planning In order to have Business Continuity. Disaster Recovery Planning doesn’t completely handle the problem. This will help to control the loss and prevent from loss.

Disaster Recovery Plan for Standard Chartered Bank

Standard Chartered Bank is big multinational company. This bank has branches all over the world and run business. They are located in different location. Bank is a vulnerable place. There are always chances to get robbed. This is the place where money flows around. This place needs lost of security as well as good protection. Before creating a Disaster Recovery Plan there are certain things that must be taken care. DR planning helps to recover IT system to a state where they can support business after a disaster. But before doing that we must perform a Risk Assessment (RA) to verify the IT services that support the Bank’s critical business activities. There are certain things that must be taken care such as people, Physical facilities, Technology, Data, Suppliers, Policies and Procedures. There are many disasters that might occur during the operation of business. For Example: Security of a Building. Threat might be Security System destroyed. Deploying security personal and guards can be immediate response. Later, all data can be backed up and install replacements such as sensors, cameras etc.

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Standard Chartered Bank is leading international banking group. They are well known all over the world. They have big reputation and standard. This banking group never settles for less. They spent millions of dollars for Disaster Recovery. They even raise fund and help to those victims who are affected because of natural disaster. This is a global bank; Standard Chartered Bank aims to provide efficient and secure online business to customers. They must have high security for their main server so that all data can be safe and backed up. Data is most important thing for this bank. DR planning is highly recommended in order to have Business Continuity. This Bank must pay attention on many factors before operation business in any location. They must be aware of areas and landscape.

Not only creating Disaster Recovery Planning helps to recover from loss, they must be implemented side by side. Here are some factors in strategy definition. I have explained some factors that must be taken care or important in case of disaster.

Data: Data is critical things for the Bank. It plays very important role on running business. So, here I will be talking about how Data can be secure in case of disaster. First of all we need to figure out what are the threats for data or where data are stored. Hackers in IT sector always try to hack on this banks data. Earthquake, Water leakage, and Fire can destroy the data. They must be kept on safe place and always have a safe and highly secure back up. I highly recommend backing up incrementally on hourly/nightly basic to another disk or taping medium with full backups being nightly or weekly. Data must be tested and recovery procedures on a regular basic. Technology changes every day therefore; this bank must be updated with all kinds of IT services.

Technology: Access to Equipment space must be configured for building, with raised floors, for example; ventilation and air conditions for whole building, suitable heating; sufficient electric power; larger space. Since, bank has too many flow of peoples building must have large area.

People: Peoples are main factor for DR planning. First thing need to be taken care is people if any disaster occurs. Lets sat building catches fire, first all the people in the building must evacuated and later worry about data. Customer’s safety is the main factor this company must take care of. All the staffs must perform their activities during the disaster or after the disaster. People play vital role for DR planning. All the employees must be well trained and updated with disaster recovery planning. Every one has a job to done and everyone must perform his or her job during the disaster or after the disaster. High level and low-level employees must have knowledge about disaster recovery planning.

There are 8 major steps for Disaster Recovery Planning. Standard Chartered Bank has to follow these steps and so follow planning. In case of a disaster, how will Standard Chartered Bank preserve critical business functions and get back to business as quickly as possible. The steps are mentioned below:

1. Organizing the DR team

2. Assessing the risks

3. Establishing roles and responsibilities

4. Developing policies and procedures

5. Document the procedures

6. Preparing to handle disasters

7. Testing, training, and rehearsal

8. Ongoing management

All the steps are explained below in detail. Standard Chartered Bank has its own policies and procedures to be followed. This bank must follow these steps to have Business Continuity.

1. Organizing the Disaster Recovery Team:

This team is a group of people from different department who are trained to perform the DR process. Different staffs from different department have their own departmental issue. They must be trained and skilled to handle any kind of disaster. Management support is very crucial to the success of the disaster recovery. There will be team leader for each department or field to instruct or guide everyone. Communication is the key factor between team members. This helps them to act during any kind of situation. For this team there will be staffs from Upper Management, IT Department, Finance Department, and HR Management. A strong team can always perform good work.

2. Assessing the Risks:

Risk assessment allows Standard Chartered Bank to determine the possible threats to the company. Identifying Risk is most important part. There are different kinds of Risks such as Power Outage, Natural Disaster, Terrorism, Hackers, and Destruction and many others. Disaster Recovery Planning includes all the threat mitigation.

3. Establishing roles and responsibilities:

This means handling works to team members. Upper level management and lower management must be aware with their role and responsibilities. There are many level of management they all must be provided with their responsibilities. Team leaders must provide their job is an appropriate way.

4. Developing Policies and Procedures:

Policies and Procedures and developed as per companies rules and regulation. Procedures are the step-by-step method of disaster recovery such as: Storage/backup procedures, DR testing procedures, General/Major disaster recovery procedures (Step-by-step).

5. Document the Procedures:

This is most important step of disaster recovery planning. The plan is reviewed, and approved to all departments and they all are responsible for DR planning before the implementation. Disaster Recovery Procedures is always clearly drafted and easy to read.

6. Preparing to handle disasters:

Without preparation to handle the disaster, no DR team will be succeeded. Preparation helps DR team to response quickly in case of any events. Make sure all the members understand the DR policies and procedures. Have everything ready before disaster strikes. Make sure all the back ups are ready, tested, and ready to go. Make sure everyone is informed and all the emergency supplies are available.

7. Testing, Training, and Rehearsal:

In this bank every things are tested in daily basic such as Hardware and software of all IT department. All the data must be backed up daily and kept us safe. Everyone in the team must practice and rehearse with DR planning. Everyone must have basic idea of DR planning. They must practice before implementation.

8. Ongoing Management:

Standard Chartered Bank must update their DR planning. If plans are not up to date with new changes in environments, structures, and laws, our DR plan will be just useless. Maintaining the disaster recovery plan is as important as creating one. To have an ongoing management plan must be updated. Here at Standard Chartered Bank we focus on managing our DR plan and run is smoothly.

Conclusion:

Finally, to have Business Continuity Disaster Recovery Planning plays an important role. Without having DR planning company is unsafe and unmanaged. Standard Chartered Bank always must follows and implement Disaster Recovery Planning in order to have success in future and keep everyone satisfied.