The risk management framework has identified potential risks and their corresponding mitigates for this material initiative of setting up the FAB GBS at offshore location in India. As part of the governance assessment FAB will ensure that, the Business Reporting Model and the Service & Risk Management Framework defines the approach, responsibilities and tools employed to carry out these activities.
The current FAB Service Level Agreements (SLAs) and Standard Operated Procedures (SOPs) used in the UAE will be adhered at the FAB GBS, ensuring FAB prevent, detect, mitigate and avoid operational and reputational risks. There will be transparency to ensure SLAs, control adherence targets are measured, monitored, and trends analyses.
Business Continuity Process
Business Continuity Plans (BCP) are an integral part of the FAB GBS set-up in India for risk mitigation. FAB GBS will follow a two locations strategy with appropriate load balance. In case of BCP scenario at FAB GBS in India, IT operation will revert back to UAE.
The Information Security requirements below will be applied to the FAB GBS.
Board of Directors
The Executive Committee is FAB GBS most senior management level committee and it operates under a delegated authority from the FAB Board. It is responsible for identifying matters required or appropriate for escalation to the Group Board or Board Committees. The Executive Committee also supports the FAB GBS CEO to determine and implement the Organization’s strategy as approved by the FAB Board.