Global Resiliency and Crisis Management
JPMorgan Chase (JPMC) is committed to providing the highest level of uninterrupted service to our customers and clients, and has developed a rigorous program to do so.
Our Global Resiliency and Crisis Management (GRCM) program is designed to provide an integrated firm-wide resiliency program aligned to our business strategy and principles and the requirements of our customers and clients globally. We do this by:
- Providing continuity of client and customer services while protecting the firm's employees and assets;
- Engaging senior management on all aspects of the program including determining the resiliency risk appetite, strategy, leadership and program oversight;
- Proactively managing resiliency risk, ensuring adequate mitigation and controls exist;
- Maintaining legal and regulatory compliance globally;
- Developing and maintaining resiliency plans based on impact analysis and criticality; and
- Helping employees understand their role in a recovery scenario and undertake validation tests and exercises for all critical functions and locations.
The information below provides details about the key aspects of our program.
- The program is managed by a firm-wide GRCM Steering Committee, comprised of Senior Management of each line of business as well as JPMC corporate functions;
- The program is reviewed and approved by the Audit Committee of the Board of Directors of JPMC on an annual basis;
- Our GRCM program is subject to risk-based examinations by JPMC Internal Auditors; and
- The program is subject to regular inspection by regulatory authorities, including the US Office of the Comptroller of the Currency (OCC), The Federal Reserve Board (FRB), The UK Financial Services Authority (FSA) and other national regulatory authorities.
- A firm-wide notification tool is used internally to communicate in crises; escalation processes are in place and are routinely tested; and
- Post event reviews are undertaken to ensure event management procedures and resiliency capabilities are continually enhanced.
- Annually, impact analyses are performed to determine and confirm the relative criticality of processes;
- All businesses develop recovery plans, based on their business impact analysis and risk assessments, addressing business, operations and technology components (including critical services provided by third parties);
- Quality assurance reviews and audit assessments are undertaken and where appropriate corrective measures implemented; and
- Senior management approves resiliency plans annually.
- Tests include tabletop simulations, simulated outages and full-scale disaster recovery and work-transfer exercises; and
- Test results are communicated to the firm's senior management for all business and technology functions in all critical locations.
- JPMC businesses have incorporated special contingency events into their resiliency planning; and
- The firm has participated in several market-wide and regulatory exercises and responded effectively to the 2009 influenza pandemic and 2003 SARS outbreak.