Important Business Service Assessment
Jul
What is an Important Business Service?
An important business service is one that if disrupted, could cause potential harm to consumers and/or pose a risk to the stability and integrity of the financial market 
or system. Completing an Important Business Services Assessment is mandatory for many regulated firms. The identification and documentation of such services enables a business to minimising disruption and reduce harm to consumers.
SYSC 15A.2 of the operational resilience requirements sets out the important business services rules and guidance. It notes that a firm must identify its important business services and keep its compliance with SYSC 15A.2.1R under review.
What to Include in the Assessment
- Service description, including the nature, scope, and purpose.
- Responsibility for service delivery and oversight.
- Essential technologies, systems, tools, and architecture required to deliver and support the provision of the service.
- Facilities required for the provision and maintenance of this service.
- Client base summary and characteristics.
- Client and market vulnerabilities.
- Alternative service providers available to consumers.
- Time criticality for clients receiving the service.
- Sensitivity of any data held.
- Service vulnerabilities.
- Impact analysis and scenarios.
- Maximum tolerable level of disruption.
Important Business Service Assessment Templates
Simple assessment of your important business services with our exclusive Important Business Service Assessment Templates. Choose from our standalone assessment templates which allow you to identify and document essential services and minimise disruption. Or, select our complete Operational Resilience Toolkit which provides the policies and controls to comply with SYSC 15A.
These templates assist in the identification of your important business services, carrying out stakeholder analysis and review the nature of your client base; vulnerabilities and impact tolerance. With more than 10,000 organisations already using our templates, we are one of the UK’s leading provider of regulatory compliance templates and training packages.
- Ready-to-use, customisable templates in Word and Excel for simple editing and corporate branding.
- Includes the FCA’s mandatory requirements for identifying important business services.
- Makes documenting your important business services straightforward and provides an auto-calculated impact tolerance for each one.
- Includes an interactive Excel based Stakeholder Analysis Template with example sheet.
