Financial services business continuity and disaster recovery seminar
Malta's first seminar on business continuity and disaster recovery in the financial services sector has been a huge success, with the sector responding positively to event, jointly organised by the Malta Institute of Management (MIM) and the Malta...
Malta's first seminar on business continuity and disaster recovery in the financial services sector has been a huge success, with the sector responding positively to event, jointly organised by the Malta Institute of Management (MIM) and the Malta Union of Bank Employees.
The seminar was launched by Reuben Buttigieg, chairman of the MIM's training division, which is investing heavily in education programmes in the financial services sector. Mr Buttigieg analysed the sector's growth over the last few years and identified certain weaknesses that need to be addressed to ensure continued growth. His analysis focused on Maltese legislation, strategy versus legislation, implementation of EU directives, innovation, business continuity and trustworthiness in the sector, among other issues.
The seminar proceeded to analyse the business continuity and disaster recovery, and the legislation and directives in place regarding this area. Malcolm Cheshire spoke about the people and human resources perspective in business continuity, while Joseph Agius from Bank of Valletta explained this delicate issue from an IT perspective.
Joseph Demanuele, MFSA chief operations officer, explained all the relevant legislation and directives in place and how the Authority ensures that business continuity plans are in implemented within the sector.
The seminar proceeded to discuss various other concerns, including cultural issues, and the possible competitive advantage that larger organisations many have over smaller ones when implementing certain legislation, particularly Basel 2.
MIM and MUBE once again pledged to strengthen their collaboration in order to maintain a continuous professional development programme, which will create the necessary fora and platform to further develop the sector. Both organisations have been discussing teaming up with other bodies towards this end. The MIM and MUBE strongly believe in this collaboration, which is a first of its kind in Malta.