The Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) respective policy statements PS21/3 & PS6/21 published in March 2021 established the frameworks for relevant firms within the financial sector to implement measures that would ensure Operational Resilience for important business services. The practical implications of achieving compliance with these directives present far-reaching obligations for applicable firms and prescribe a significant investment in planning, processes, and technologies. At the highest level the directives required firms to operationalize the following fundamental parameters during the period from March 2021 to March 2022.
March 2022 onwards marks the transition period during which firms must set in place all measures required to be compliant with the directives when the policies come fully into force in March 2025
Disaster recovery (DR) planning, testing, and reporting are core components of achieving operational resilience and these functions map directly into the policy tasks of setting impact tolerances, scenario testing and self-assessment reporting. Cristie Software system recovery and replication solutions can simplify these tasks significantly through the recovery automation, orchestration, and reporting features of our products.
Cristie bare machine recovery (BMR) software provides high performance system recovery as a standalone solution or as an extension to leading backup solutions from Dell EMC, IBM, Cohesity and Rubrik.
Financial systems involve complex interdependent server and storage configurations that are built with redundancy to provide the utmost resilience. The deployment, maintenance, and protection of these systems presents specific challenges due to scale. For instance, a single service such as payments may be supported by thousands of server instances across multiple geographies for many financial firms. Recovery and replication solutions from Cristie Software offer several mechanisms to facilitate bulk server mapping and recovery:
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Within any financial services infrastructure there will be a system recovery hierarchy necessary to accommodate system interdependencies. Cristie Software can help facilitate tiered system recovery through the system recovery orchestration features provided within the VA. Orchestration tasks allow for detailed fine tuning of system recoveries and replications including reboots, post recovery scripts, manual tasks, plus customisable options for actions following any stage failures. Full details can be found in the VA-Orchestration Guide.
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