We think it is important to communicate answers to the most frequently asked questions. This is to ensure you that CACEIS Netherlands has its business operations and services in order.
24 Mar 2020
Q: What impact does CACEIS expect on service delivery?
- Following the announcements, 90% of all employees at CACEIS Nederland will be working from home in the coming period.
- A small group will be manning the business-critical processes at our offices.
- In the recent period we have successfully tested our IT infrastructure to make it possible to work from home.
- The IT infrastructure is monitored and tested on a daily basis.
- The availability and deployment of staff on all business critical processes is monitored and assessed on a daily basis by the crisis team. If employees should fail, replacements with the right expertise and experience will be deployed.
- We assure you that we will do everything in our power to continue to provide and guarantee our services to you unhindered.
- We have also made our clients aware of having their BCM plans in order.
Q: What measures have been taken to make it easier for employees to work from home?
- Even before the outbreak of the COVID-19 virus, CACEIS has drawn up an internal policy on the rules of working from home, e.g. rules for the quality of the chairs, desk, lighting, etc.
- As a result of the government's measures, CACEIS has offered everyone who works from home the possibility of picking up additional supplies from the office such as chairs, screens, etc.
- Teams are connected via app, mobile and landlines, skype and e-mail.
- There are daily calls and of course we work in flexible hours.
- We encourage our employees to stay fit by promoting the VIVA FIT programme with tips & tricks on the intranet.
Q: Has CACEIS prepared mitigating measures in the event of a failure of the internet due to problems at local internet service providers?
- Should the internet fail across the region, employees who monitor critical processes will come to our locations De Entree and Weesp to continue the work.
- Critical processes related to Custody are already carried out from both locations. For CEP, extra employees will have to come to the locations because they now work completely from home.
Q: In view of the new working from home situation, how does CACEIS deal with possible cyber security risks?
- We are paying extra attention to increasing our employees' awareness of cyber security risks by means of targeted internal communication.
- We only inform and ask employees to use the centrally available CACEIS processes and resources for their daily work. This means that we discourage them from communicating with clients using their own resources such as Gmail and Hotmail.
- Additionally, a number of tools/websites are blocked.
- We are more actively monitoring for any anomalies that could indicate hackers on our network. Think of spam, phishing mails and possible ddos attacks.
- We have not had any security incidents yet. However, we do see an increase in the number of phishing mails.
- We maintain very short lines of communication with other financial institutions in order to share signals that could potentially affect our business operations and (more stringent) measures regarding cyber security.
Q: Are critical processes at risk?
No. We have done everything we can to ensure that business operations and services can continue.
Q: Does CACEIS carry out an annual Disaster Recovery Test?
Yes, we do several DR tests per year.
Q: Has CACEIS already included possible changes as a result of the coronavirus developments such as a lockdown scenario in the BCM plan ?
- If a total lockdown is announced by the Cabinet, our business critical Treasury and Payment activities may also have to be carried out from a home location.
- This scenario has been worked out and tested and the necessary IT infrastructure is available and operational if necessary.
Q: Are there any key suppliers or service providers of CACEIS that are experiencing problems as a result of the corona crisis that is adversely affecting your business operations?
No. We are in close contact with our suppliers and have alerted them to having their BCM plans in order.
Q: Has the regulator requested information regarding the coronavirus measures at CACEIS?
No, but we are of course in direct contact with DNB regarding all relevant developments. In the past, DNB has assessed and evaluated our BCM plan.
Q: Have you drawn up scenarios if this situation is going to take a long time?
As is currently the case, we will communicate with you by phone, email and Service Updates. As indicated above, our business continuity is guaranteed with all measures taken to be able to continue working from home and from an emergency location.
We will continue to communicate proactively with you about all relevant developments. Of course, our relationship managers are always available for you if you have any additional questions.