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15.3 BCP Testing

N 35/2018 STA
  1. 15.3.1Testing of the Business Continuity Plan must be undertaken at regular intervals in order to assess the capability of the Licensed Person to resume business after a disruption;
  2. 15.3.2Accordingly, the Licensed Person must:
    1. a)Test the Business Continuity Plan at least annually;
    2. b)Testing must also be undertaken considering any key changes in the business model, products, systems and relevant infrastructure; and
    3. c)Testing details and results must be documented for verification by the Central Bank Examiners during an examination.
  3. 15.3.3Testing results must be reviewed by the Manager in Charge and by the Board of Directors (or by the Owner/Partners where there is no Board of Directors); and
  4. 15.3.4The Business Continuity Plan must be reviewed and updated based on the results of such testing.