BUSINESS CONTINUITY MANAGEMENT POLICY STATEMENT
PHINMA aims to ensure that all of its companies are able to achieve their respective strategic business objectives by safeguarding its processes and operations with the implementation of its Business Resiliency Program. The program provides governance framework to develop business resiliency, build capability to safeguard the interests of PHINMA’S key shareholders, as well as the reputation and value-creating activities of the company in all its functions and operations.
On 21 March 2013, the PHINMA Executive Committee, approved and mandated the implementation of the Business Continuity Management, now renamed PHINMA Business Resiliency Program. The official launch of the group-wide Business Resiliency Program, and the signing of the BCM Pledge by PHINMA top management and the key executives of the Strategic Business Units was conducted last June 20, 2013.
Through this key management process, all strategic business units shall identify and manage potential risks and its possible impact to the businesses and operations.
All companies therefore shall:
- Organize and train their respective Business Resiliency Teams
- Identify their company’s risks and conduct business impact analysis
- Plan and mitigate risk exposure and increase business recovery capabilities
- Craft business continuity management plans to manage risks and ensure recovery of key business operations
- Adapt, test and implement business continuity management plans and review these as needed; and
- Be subjected to a specialized audit by the Group Internal Audit on a regular basis