HKFSBCM FORUM
© 2026. All Rights Reserved.
Contact Us
hozefa.badri@hkfsbcm.org
Postal Address
Queen's Road Central, Hong Kong
Hong Kong Financial Services
Business Continuity Management Forum
Whole Industry Simulation Exercise (WISE) 2015 Journey
After months of preparations WISE2015 was successfully held on the 9th of Oct 2015. The Crisis Management Teams (CMTs) from 25 financial institutions participated in the exercise and a team of more than 30 professionals worked behind the scenes to ensure the exercise ran smoothly. Feedback was collected from participants and was overwhelmingly positive.
The WISE2015 scenario involved elements of physical, cyber, and information security and achieved its three primary objects:
- Increase individual firms' familiarity with Business Continuity Plans (BCPs) and facilities.
- Practice inter-bank and agency coordination, crisis communication, and crisis management skills.
- Improve the resilience of the financial services industry in Hong Kong.
A Facilitator Briefing was successfully organised on 14 Jul 2015. A WISE Portal Connectivity Test was held on Monday 31st Aug 2015 to ensure that the portal was fully operational and accessible by all participants of WISE2015.
A summary report has been prepared to give an overview of Hong Kong's first industry-wide crisis simulation exercise for financial services.
Crisis Management
Crisis management (CM) is the process by which an organization deals with a major event that threatens to harm the organization, its stakeholders, or the general public. The issues are typically so important, unexpected, extraordinary, urgent and sometimes emotional, that normal management is insufficient. It involves procedures and plans, but also individual skills and practices. In many countries, banks jointly engage in industry-wide table top exercises, where the Crisis Management Team (CMT) from each organization discusses the response to a challenging hypothetical situation, or a scenario, which is unfolded from a central simulation centre. Similarly, WISE 2015 was an industry-wide crisis management exercise where participating organizations jointly exercised their abilities to respond to the different crisis scenarios.