The client, a subsidiary of a leading bank, is required to maintain and update their Recovery Plan on the regular basis. Given internal resource limitations along with new requirements, the client required an assistance in the review and update of the plan. Avantage Reply provided a recovery plan expert who 1) updated the plan according to the latest regulatory requirements and 2) integrated the recommendations received from the internal audit function as well as the national regulator.
The goal was two-fold:
The primary challenge was the short deadline for the delivery of the updated plan given shortage in the internal resources as well as data shortage or delay.
Avantage Reply provided a recovery planning expert to conduct the regulatory review and update of the plan. The expert performed the following: