CIBC Mellon Certified by BSI Canada to ISO 22301:2012 Societal Security and Business Continuity Management Systems Standard
CIBC Mellon is one of only two Canadian companies and the only asset servicing provider to have achieved the internationally-recognized business continuity standard
CIBC Mellon today announced the successful completion of a two-year project to achieve certification to the ISO 22301:2012 Societal Security and Business Continuity Management Systems Standard. ISO 22301:2012 specifies requirements to plan, establish, implement, operate, monitor, review, maintain and continually improve a documented management system to protect against, reduce the likelihood of occurrence, prepare for, respond to, and recover from disruptive incidents when they arise. CIBC Mellon is one of only two Canadian firms to have been certified to the ISO 22301 standard, and is the only Canadian asset servicing provider to have been so certified.
“As a leading Canadian custodian and asset servicing provider, we recognize the importance of our business to our clients and to Canada’s capital markets,” said Christopher Horne, Assistant Vice President, Business Continuity and Corporate Security, CIBC Mellon. “Our extensive business continuity management efforts are designed to prepare our company and its employees to deliver essential services even in unexpected circumstances.”
To achieve ISO 22301:2012 certification, CIBC Mellon’s business continuity preparations were assessed by external auditors from the British Standards Institution (BSI Group) Canada. CIBC Mellon’s business continuity plans are highly flexible, enabling it to respond to different scenarios, and the company can execute all or a portion of its plans depending on the type, severity and impacts of an event. Response planning encompasses preparations for CIBC Mellon’s employees, offices, technology and supply chain, with the aims of preserving life safety, quickly organizing CIBC Mellon’s response to an incident, maintaining service continuity, and rapidly recovering any impacted services to clients. The ISO 22301 certification applies to the Canadian operations of CIBC Global Securities Services Company and CIBC Mellon Trust Company.
”We are pleased to recognize and certify CIBC Mellon’s achievement of the ISO 22301:2012 Societal Security and Business Continuity Management Systems Standard based on our comprehensive review and assessment of the systems, preparations, planning and response capabilities,” said Gary Robinson, Commercial Director of BSI Group Canada. “CIBC Mellon’s clients and stakeholders should take confidence from the diligence and effectiveness with which the company has undertaken business continuity planning.”
Key features of CIBC Mellon’s business continuity program include:
- Enterprise critical communications capabilities: CIBC Mellon leverages the Everbridge critical communications system, empowering the company to initiate two-way mass communication with employees across multiple channels, including email, business and personal phones, text messages and more. We can efficiently provide updates to apprise employees of an issue, provide guidance (for example, to work from an alternate location), or even capture survey responses to confirm employee safety and the impact of events such as weather at their locations.
- Regular exercises: The company regularly tests its plans and preparations, including through all-employee drills, as well as tabletop exercises in which senior management responds to a simulated emergency.
- Detailed documentation: The company’s governance and control groups collect detailed documentation outlining the requirements, plans and critical responsibilities of every group at CIBC Mellon.
- Offsite recovery centres and multiple offices: In addition to offices in multiple cities, CIBC Mellon maintains dedicated offsite recovery workspaces, supporting the company’s ability to carry out critical tasks, even if primary offices become unavailable for an extended period. The company also leverages multiply redundant technology and processing capabilities via its parent companies BNY Mellon and CIBC.