MAS: Annual report 2006 / 2007
CONTENTS
HOME
 
ENTERPRISE: Our Role
BUILDING ON A ROBUST MACROECONOMIC ENVIRONMENT
DEVELOPMENTS IN THE SINGAPORE SECURITIES MARKET
FOSTERING A SOUND & REPUTABLE FINANCIAL CENTRE
RISK MANAGEMENT & INFRASTRUCTURE
GROWING SINGAPORE AS AN INTERNATIONALLY COMPETITIVE FINANCIAL CENTRE
CURRENCY
ORGANISATIONAL INITIATIVES
RISK MANAGEMENT & INFRASTUCTURE 32
Strengthening Risk Management Framework 32
Business Continuity and Crisis Management 32
Crisis Management Exercises 33
Thematic Inspections on Business Continuity Management 33
Preparedness of Staff and Tenants for Emergency Situations 33
 
Thematic Inspections on Business Continuity Management
In the second half of 2006, MAS conducted a series of thematic inspections to assess the preparedness of key financial institutions for avian influenza pandemic and security threats.

We found the state of readiness of the key financial institutions to be satisfactory.

To prepare for an influenza pandemic, the key financial institutions have established multiple business continuity strategies for dealing with staff absenteeism. They have also developed and tested workplace measures and immediate response procedures for managing staff with symptoms suggestive of avian influenza, and conducted staff awareness programmes. In addition, they have organisation-wide immediate response plans to handle various security situations such as bomb threats and explosions.

MAS has also issued an information paper on the sound practices observed during the thematic inspections to help institutions enhance their readiness in dealing with an avian influenza pandemic and security threats.