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We speak to Benedict Peet from Standard Chartered Bank about his career in Business Continuity & Governance.
Benedict Peet is currently a Senior Manager for Operational Risk, Supply Chain & Third Party Risk Management at Standard Chartered Bank in London. He's previously worked in senior Business Continuity & Resilience roles including Regional Head of Business Continuity for Standard Chartered. Andrew speaks to Lawson Chase about his career in BCM and Governance to date.
I had been working in the IT Disaster Recovery field for a number of years, when the concept of BC and Risk came up following 9/11 terrorist attacks and the financial services sector starting taking a more robust interest in the subject. It’s certainly something that I never set out to do, but something I enjoy – keeping the business running and people safe is at the core of my own personal values.
I’m actually a qualified Civil Engineer and practiced as such for a number of years in the 1990’s, utilising complex software applications and modelling, which led more into IT Management then IT Disaster Recovery – then BCM and Risk Management. Since entering the world of BCM back in 2003, I’ve also led Corporate Security and Resilience roles, BCM and Crisis Management, Operational Risk roles and I’m currently leading Process Governance and Effectiveness across a global property function, much of which looks at risk and governance – a growing and interesting profession. Having a thorough background in Civil Engineering also helps, not only in understanding property issues, but also understanding external issues which may impact a business, whether earthquake or the effects of an explosion on a building structure – such as we witnessed in Tianjin recently.
Without a doubt this has been the Crisis Management roles I have led – from leading the Bank’s response to the London terrorist attacks in 2005, through to the Swine Flu Pandemic in 2008, Mumbai Terrorist attacks the following year and a myriad of crises from power outages to kidnaps and bank robberies. These are not projects as such, more of a corporate response to a crisis, however they have to be led in such a way that reflect project management in both the preparation and during such events. After all Proper Planning Prevents Poor Performance – and this is very true in the world of Crisis Management
Aligned with the above – this has been the most rewarding point of my career, and something which I am proud of.
Yes - Be adaptive, don’t just focus on one specific area, and engage with the Business (that may sound strange but often BCM doesn’t engage with the business, it reacts to business need and doesn’t discuss mutual areas of responsibility and accountability). In addition manage your own expectations (both personally and professionally), expand your network, understand the world of Risk and how people’s understanding changes and is often very different to your own
Further understanding of how the Regulatory environment is changing, following the Global Financial Crisis, and greater understanding of the growing levels of Compliance – especially relating to Risk.
The changing Regulatory and Compliance environment, and the move to more electronic/on the move banking, which changes both BCM strategy and what how we manage Risk
Are there any skills gaps that you think will be more prevalent in BCM and Governance over the next few years within the industry?
At risk of sounding like a broken record – Regulations and Compliance, greater knowledge of both the Regulatory environment and the Compliance world is definitely needed to ensure the BCM and Risk stays at the forefront of these areas of growth and development.