NAB CO Notes

Question 1

What is the Critical Operations Framework Work Stream responsible for?

Answer 1

Developing the Critical Operations Framework to drive a consistent way for NAB to identify Critical Operations, assign ownership, map and record constituent parts, including support data, premises, suppliers, IT assets, and resources.

Question 2

What are the three expected outcomes from the Critical Operations Framework Work Stream’s work?

Answer 2

1. COs identified
2. Accountability for COs embedded.
3. Supporting services, systems, and resources required for COs identified and remediation requirements captured with ownership assigned and governed.

Question 3

What is the key principal NAB uses to identify Critical Operations?

Answer 3

Process that when disrupted beyond tolerance levels under severe but plausible scenario would have a Critical FI or NFI to one of the 3Cs due to the time critical nature of the process.

Processes with a measurable, time-specific outcome to a 3C where NAB has accountability for the provision of the service.

Question 4

What is considered in each of the 3Cs?

Answer 4

1. Customers - depositors, policyholders, beneficiaries, etc.
2. Country - financial market sand economy
3. Company - NAB’s financial soundness.

Question 5

What is the criteria (2 things) applied to identify a Critical Operation Owner?

Answer 5

1. Owner is an Executive and member of the Executive Leadership Group (ELG) at a minimum
2. Owner is accountable for majority of the business processes that comprise the Critical Operation

Question 6

What are 3 key requirements of CO Owners?

Answer 6

1. Identify, assess and manage operational risks (effective control environments, monitoring, and remediations).
2. Continue to deliver COs within tolerance levels through severe disruptions (via a credible BCP).
3. Effectively manage the risks associated with service providers (with formal agreements and robust monitoring to oversee risk and performance).