Basel-II News

BRAZILIAN BANK IS THE FIRST IN THE WORLD TO RECIEVE THE BUSINESS CONTINUITY MANAGEMENT STANDARD CERTIFICATION

Nossa Caixa Bank relied on Modulo's risk management solution support; BS 25999 ensures more dependable processes and brings benefits to clients and stockholders Nossa Caixa, the third-largest public Brazilian bank, is the first financial institution to receive the BS 25999 certification in the world. BS 25999 is a regulation created by the British Standards Institution (BSI) establishing the demands and processes required by the Business Continuity Management. The partnership with Modulo, a leading provider of IT Governance, Risk and Compliance Management solutions, made the achievement possible by offering consultancy services and providing the Modulo Risk Manager software. The BS 25999 standard, released in England in 2006, ensures the bank more dependability in its processes.

The certification demonstrates attention and respect for both clients and stockholders in addition to the financial market. Nossa Caixa’s certification scope was the Brazilian Central Bank Payment System (SPB, or Sistema de Pagamentos Brasileiro in Portuguese) requiring cohesive business practices or risk causing financial losses or damages to the institution’s image—factors that emphasize the importance of meeting the British standard in order to guarantee the efficiency of the essential processes that maintain business continuity. “The Brazilian Central Bank Payment System is a process of primary importance, and the bank environment was recently restructured to better attend the legal requirements.

The certificate demonstrates our support for adopting the best practices in the market, aggregating values of the business and competitive advantage. By certifying the SPB environment on BS 25999, we guarantee that the excellence of recent investments will reflect benefits to our clients,” says José Waldir Carvalho, manager of Information Technology Security Division of Nossa Caixa. A contingency plan is a common demand of regulatory agencies and it is present in Sarbanes-Oxley, Basel II, declarations of the Brazilian Central Bank, and the recommendations of Brazilian Court of Audit (TCU). With the certification granted by BSI, Nossa Caixa made incremental advances to meet compliance mandates with all those laws and regulations,” says Fernando Nery, founder of Modulo. According to Cid Vieira, from BSI, “the Business continuity is a serious challenge for organizations, and the management of this challenge should be a fundamental element for them as a whole. The capacity of an organization to keep the essential operations uninterrupted during and after a disastrous event as well as the speed at which it reestablishes its functionality can be the difference between its success and its failure. BSI’s decision to present the first certificate to Nossa Caixa provided great satisfaction and emphasizing the highlights of Brazilian companies and especially Nossa Caixa on the evolutionary process of business around the world.”

About Nossa Caixa Bank

Nossa Caixa is the third largest public bank in Brazil and one of the top 10 local banks. A retail bank, headquartered in São Paulo, it serves public employees, municipalities, and small to medium-sized businesses in the State of São Paulo through its vast network of 840 branches. Nossa Caixa is owned by the state government of São Paulo, which in December 2002, passed a bill allowing the bank to offer shares on the local stock market beginning in 2003 and to set up subsidiary partnerships with companies in the private sector to provide credit cards and pension plans. Currently, the bank has 13,000 employees and serves three million accounts. For more information, visit www.nossacaixa.com.br.

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