A Business Continuity Plan describes how Westward Group will respond and react to events that may significantly disrupt our business. Since business interruptions can never be predicted with accuracy, some flexibility in our planned responses will be necessary. Nevertheless, the key components of our Business Continuity Plan are given below:
Continuity Plan. Our plan requires resumption of business operations as soon as possible after a significant business disruption. We will safeguard our employees and property, assess our financial situation and ability to operate, protect all Westward Group data and records, and allow our clients to transact business. Our Business Continuity Plan addresses all the following issues: data backup and recovery; all mission critical systems; financial and operational assessments; communications with clients, employees and regulators; relocation (if necessary) of employees; impacts on critical suppliers, contractors, banks or counterparties; and regulatory reporting.
Significant Disruptions. Business disruptions may vary in coverage or location and degree of severity: affecting just our firm, a single building housing our firm, the business area where our firm is located, the city where we are located, or the entire region. Within each of these areas, the severity of the disruption can also vary from minimal to severe. In the case of a disruption to only our firm or a building housing our firm, we intend to move operations to a nearby site, if necessary, and expect to resume operations within two business days. In response to a disruption impacting our business area, city, or region, we will move operations to a site outside of the affected location and resume business within five business days. In either case, we plan to resume operations, and notify you accordingly. If the significant disruption is so severe that it prevents us from remaining in business, we will assure our clients’ prompt interface with the respective companies and entities that are counterparties to their transactions.