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Guidance Unit for the
Financial Supply Chain
Understanding the significance of the non-regulated suppliers to the health of core financial processes, we initiated a unit within the Ministry of Finance that will help strengthen the resilience of those vital entities and as a result strengthened the financial system itself.
We delivered and still operating this venture as an end to end service to the Ministry of Finance. from identifying the need for the existence of the unit, detailing the specifics of how it should look like, harnessing all relevant factors to support this activity and conducting the surveys themselves.
Identify and prioritize the suppliers
Each supplier holds a different role in the ongoing functionality of financial processes and in varying capacity. Therefore, the risks are different as well and we need to prioritize which of them to address first.
Standardization
Once the unit reviews an organization all the financial organization using this supplier's services can relay on those findings in their own risk management procedure as well as in complying with regulatory obligation for surveying it's service givers. This way, the burden of being surveyed numerous times a year by different reviewers and according to changing standards is lighten for the supplier.
Cutting edge approach to raise the resilience
Business continuity, especially in the cyber domain, is an ongoing effort. Hence, part of the unit activity is to bring the suppliers onboard with existing government activity in the financial sector including integrating them as members of the finance cyber and continuity center. Moreover, the unit assists with relevant exercise arrange conference and forums and act as a guide for the chain of supply organizations in the financial sector.
