Floods test contingency plans
The recent flooding in Queensland, Australia has provided a perfect demonstration of the need for financial services firms to have appropriate procedures in place to ensure business continuity.
Manny Pohl, chief executive officer of Brisbane-based Hyperion Asset Management, said that the impact of the floods on Hyperion’s business was minimal, thanks in no small part to the activation of its disaster recovery site on the Gold Coast.
“Our office was closed for that week when the floods were at their peak but during that week all of our staff operated out of the Gold Coast. For the business it was nothing more than a speedbump,” he said.
“Our building wasn’t affected by the floods, they cut the power to the CBD but we weren’t flooded. The only thing that the floods caused us was a little bit of inconvenience as people had to drive an extra hour to get to work.”
See Floods test contingency plans by John McDuling for Financial Standard.
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Tags: flooding, floods, natural disasters
