Disaster Recovery Plan Term Paper Example | Topics and Well Written Essays - 1500 words

Disaster Recovery Plan - Term Paper Example This paper discusses disaster recovery plan in respect of Share Broking House. Disaster recovery plan in Share Broking House The disaster causing damages in an environment may be either temporary as in the case of Sandy storm or permanent as in the case of attack on World Trade Center. The planning for the latter one involves substantial capital investment for establishing the required facilities for continuity of the business in an alternative site. The geographical locations should be dispersed with sufficient distance between the head office and the alternate site proposed for disaster recovery plan. Disasters may be categorized into two types at company level based on the nature of damages: disaster causing damages to the system and disaster causing damages to the entire facilities and properties. Establishing disaster recovery system at a different site will take care of both the types of disasters. Since the business of share broking house under study is spread all over the cou ntry, the disaster recovery site should be away by more than 300 kilo meters from the head office, in another city which is not prone to earth quakes. Goals The important goals in installing the disaster recovery plan are given below: 1. Training the employees in the recovery activities anticipated. 2. Testing the system for compatibility in real-life situations. 3. Establishing the necessary back-up facilities to provide the best services at all times. 4. Putting alternate communication system in place in the event of disaster. 5. Mitigating the effects of the impacts in the event of disaster. Objectives 1. Ensuring normalcy in clearing and settlement operations in the business without loss of time. 2. Ensuring accessibility to staff for disaster recovery process. 3. Assessment of the financial and operational support needed for reporting to the banks and financial institutions. 4. Making arrangements for survey by insurance companies. 5. Coordination with the service providers and vendors in recovery process. 6. Early resumption of the disrupted business operations. 7. Keeping the customers informed of the situation. 8. Keeping the regulatory and local authorities informed of the extent of disaster and the progress of recovery process. Overview of the organization The organization needs to be studied and analyzed with particular reference to disaster management. The structure has been designed to meet the needs of the industry where the business is carried out online. There are more than 100 branches which are connected to the head office. There are more than 1000 terminals in head office and branch offices. The company appointed dealers place orders into the system as per the instructions received over phone or internet from the customers. Also, some of these terminals are allocated to the day traders for day-trading. The important tasks involved in the day-to-day operations can be classified into: 1) Buying and selling of shares and Securities including Fu tures and Options, 2) Transfer of Securities to the depositories, depository participants and customers, 3) Settlement of payments arising out of transactions