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Business continuity arrangements
Business continuity management is integral to the AOFM’s risk management arrangements, especially given the critical operational nature of the agency. The AOFM has a comprehensive business continuity plan to ensure that its key functions can continue in the event of a major disruption. These arrangements include multiple levels of redundancy that can be employed when the AOFM’s day‑to‑day business systems or office accommodation are not accessible, or when AOFM staff are not available to perform key tasks. The most time critical functions covered by the plan relate to tenders, settlements, budget estimates and AGS payment obligations (coupons and maturity redemptions).
Business continuity plans were updated and tested in 2019–20 to ensure staff familiarity with processes and procedures in the event of a business disruption. During 2019‑20, the AOFM strengthened its resiliency by implementing a Pandemic Management Plan in response to the global pandemic. Business continuity arrangements are supplemented by a crisis management framework to enhance business resiliency.