It is our commitment to ensure that all efforts are focused on re-establishing the full functioning of key business operations as swiftly and as smoothly as possible as if no interruption had occurred. In the process, JMMB is also committed to:
- safeguarding our employees and property
- making financial and operational assessment
- protecting the company’s books and records and
- maintaining communication with our clients by national broadcast .
By taking these proactive steps, JMMB makes every proactive move possible to protect shareholder value, maintain its brand, mitigate risk, safeguard revenues and sustain both a stable financial market and client confidence.
JMMB’s BCP includes the following core areas:
1. Data back-up and recovery (hard copy and electronic)- identification of the location of primary books and records (hard copy and electronic) and the location of back-up books and records (hard copy and electronic). In addition, JMMB is able and prepared to describe and disclose how we back up data, as well as how we will recover data in the event of a significant business disruption .
2. All mission critical systems- systems that are necessary, to ensure prompt and accurate processing of securities transactions, including, but not limited to, order taking, order entry, execution, comparison, allocation, clearance and settlement of securities transactions, the maintenance of clients accounts, access to clients accounts and the delivery of funds and securities .
3. Financial and operational assessments- written procedures that allow JMMB to identify changes in its operational, financial, and credit risk exposures. Operational risk focuses on JMMB’s ability to maintain communications with clients and to retrieve key activity records through its “mission critical systems.” Financial risk relates to JMMB’s ability to continue to generate revenue and to retain or obtain adequate financing and sufficient equity.
4. Alternate communications between Clients and JMMB- alternate means of communications that JMMB will use to communicate with its clients in the event of a significant business disruption.
5. Alternate communications between JMMB and its employees – alternate means of communications that JMMB will use to communicate with its employees in the event of a significant business disruption.
6. Alternate physical location of employees- alternate locations are designated for employees, including key personnel that have been identified to assist in the resumption of business operations.
7. Critical business constituents, banks, and counter-party impact – effect a significant business disruption will have on JMMB’s relationship with its critical business constituents, banks, and counter-parties, and how JMMB will deal with those impacts.
8. Regulatory reporting – available means that JMMB will use to continue its compliance with regulatory reporting requirements.
9. Communications with regulators – communication with regulators through whatever means are still available, including the designation of business continuity plan contacts to assist in these communications.
10. Providing clients with prompt access to their funds and securities – measures JMMB will use to make clients funds and securities available to clients in the event of a significant business disruption.
The ability to decide when to activate and execute JMMB’s Business Continuity Plan is entrusted in two selected JMMB Executive Leaders who are also members of JMMB’s Business Continuity Team.