4.3.1 Pandemic Plans
A pandemic occurs when there is a widespread disease outbreak and while a pandemic may vary in severity and duration, it may present significant financial or operational risks for a licensee for its duration and beyond. Notwithstanding that health and safety is of paramount importance, the Bank urges licensees to consider whether their business continuity plans are sufficiently flexible to address a wide range of possible effects during pandemic events. In some instances, a stand-alone pandemic plan may be developed, or pandemic considerations incorporated into existing business continuity plans and other internal plans. Pandemic plans typically address:
Policies and procedures should be considered that will mitigate risks that may arise due to the reduced ability to communicate with customers, inability to rely on mail or other disruption to the existing controls over communications with customers. In a case where a licensee has opted to avoid general distribution of information to its customers until such time as the risk level rises, there must be clear trigger points for releasing and updating information.
The above should bear reference to any plans at the national level. See Operational Risk Management Guideline