Business Continuity Management (BCM) for Regional Financial Functionalities in Wide-Area Disasters Importance and Challenges in Cooperation Among Regional Financial Institutions and PPP (Public-Private Partnership)

We've already been through three large earthquakes in just two decades - the 1995 Great Hanshin-Awaji Earthquake, the 2004 Niigata Chuetsu earthquake, and the 2011 Great East Japan Earthquake. In those 20 years, disaster responses by institutions providing financial functions supporting regional daily life and social and economic activities have evolved from the simple duplication of information communication systems and disaster recovery plans (DRPs) for data backup into the business continuity plan (BCP) and to business continuity management (BCM) at the management level. The fact that regional financial functionalities cannot be managed simply by the efforts of financial institutions has been recognized during these disasters. It has been realized that a system enabling information sharing and cooperation with local governments in addition to collaboration with other financial institutions is needed. Efforts for enhancing the effectiveness of such a system should be made by financial functionalities that support local restoration and reconstruction.