Business Resiliency BIA – Assessments that produce meaningful data

Speaker - Zach Miller, Nationwide Insurance

Description: In today's business landscape, it is unfortunate that Business Impact Analyses (BIAs) often become nothing more than a box to check off on a compliance checklist. Instead of being seen as a valuable opportunity to create additional value, they are approached solely to satisfy the demands of auditors and regulators. To truly unlock the potential of a Business Impact Analysis (BIA), organizations can take a different approach. By embracing standardized capability models, they can delve deeper into the intricacies of their business and gain a comprehensive understanding of the potential consequences of disruptions to specific aspects of their operations. This strategic evaluation allows for the identification of crucial areas that need protection and mitigation. Armed with this valuable insight, organizations can then develop and implement strategies aimed at minimizing the adverse effects of disruptions. By leveraging the information obtained through the BIA process, they can effectively safeguard their business operations and ensure resilience against any potential threats. By shifting the focus from compliance to value creation, organizations can transform the BIA process into a proactive and strategic tool. This approach empowers them to not only meet the expectations of auditors and regulators but also to strengthen their business and position themselves for long-term success.