Business Continuity Planning
As a global leader our mission at the Principal Financial Group is to help growing businesses, individuals and institutional clients achieve financial security and success, resulting in excellent shareholder value. Our core values of customer focus, financial strength, people development, operational excellence and integrity reflect our mission. One of the ways we strengthen our values is through our Business Continuity (BC) Program.
Purpose of the Business Continuity Program
The purpose of our Business Continuity Program is to sustain the continued operation of the Principal Financial Group, its business units and subsidiaries through an organized recovery program. Customers rely on and regulators require, that a business provide service in a timely manner. The Principal Financial Group is committed to providing uninterrupted service if an incident disrupts critical business operations. Business Continuity planning is a critical element in our business plans.
Our contingency planning process includes Business Continuity (BC) and Disaster Recovery (DR) planning at both the enterprise and business unit level. The BC and DR programs provide corporate oversight of the business unit recovery process. The BC program is designed to help management plan and prepare for emergency situations that may have the potential to interfere with business operations. Disaster Recovery planning maintains recovery of systems, data and infrastructure to support Business Continuity plans. Business Units are responsible for identifying their critical business functions and developing plans for their protection and recovery.
The recovery program facilitates business unit development of BC and DR planning documentation, annual testing and exercising of those plans. Plan development includes a bi-annual Business Impact Analysis (BIA) that identifies a business unit's critical functions. Our BC program is based on the professional practices established by the Disaster Recovery Institute International and Business Continuity Institute and aligns with standards such as NFPA 1600 Standard on Disaster/Emergency Management and BC Programs, ASIS International 12009, BSI 25999, and ISO 22301.
We are committed through our Business Continuity Program to protect our customer's financial assets through continuous uninterrupted business operations. We constantly monitor events adjusting plans as business and regulatory needs require.