Guiding the formulation of procedures and scenario for assurance of continuous operation in banking operations in Vietnam

According to the Circular No. 09/2020/TT-NHNN of the State Bank of Vietnam, each institution shall formulate procedures and scenario for assurance of continuous operation as follows:

1. Establish procedures for response to operational insecurities and interruptions of each component of the information system of level 3 or higher.

2. Any institution which has both main and standby information systems located outside of Vietnam must develop a plan for assurance of continuous operation in case of interruption of transmission lines connected to main and standby information systems.

3. Establish the scenario of conversion to the standby system in place of the main system, including work contents, conversion process and scheduled completion date which meet the following contents:

- Necessary resources, equipment and requirements for such conversion;

- Forms or templates used for recording conversion results;

- Arrangement and assignment of work duties of responsible staff members, including directing, overseeing and carrying out such conversion, official operation and examining the result of such conversion;

- Measures to ensure information security;

- Plans for ensuring continuous operation in case of unsuccessful conversion.

4. Any institution which has only one working office in Vietnam (excluding microfinance institutions and local people’s credit funds) must establish the scenario of conversion of operation to the standby office.

5. Procedure and scenario for such conversion must be checked and updated when there is any change to the information systems, organizational structure, personnel and assignment of duties in relevant departments of an institution.

View more details at the Circular No. 09/2020/TT-NHNN of the State Bank of Vietnam, effective from January 01, 2021.

Thuy Tram

>> CLICK HERE TO READ THIS ARTICLE IN VIETNAMESE