Progress of the Business Improvement Plan
July 15, 2022
Mizuho Financial Group, Inc.
Mizuho Bank, Ltd.
1. Outline of the Business Improvement Plan | 2 |
- By the end of June, IT and user departments have finished inspections and training concerning contingency plans for 30 main operations, including domestic/foreign exchange and market settlement and other. We conducted advanced inspections for the prevention of system failures and installed cameras in ATM booths and other, as planned. We also completed release for a large-scale development project that was scheduled for between April and June 2022.
- In and after July, we will deliberate more advanced measures to respond to system failures such as the introduction of a tool, as well as verifying the effectiveness, and dissemination of completed measures, and flexibly reviewing actions.
The specific details of initiatives ( | ) for the "prevention of system failures," "enhancement of system failure response capabilities," and "reforming corporate culture" are explained in | |||||||
the subsequent pages. | ||||||||
Main measures for improvement | Actions taken by Mar-22 | Progress (as of end of Jun-22) | ||||||
Recurrence prevention | Improvement related to | Completed inspecting and modifying systems regarding the direct causes of IT | ||||||
the location of system | ||||||||
system failures. | ||||||||
failures | (Actions have been taken for improvement continuously) | |||||||
Improvement related to | Completed inspecting and modifying systems by expanding the scope to locations | |||||||
Prevention of | similar locations | where similar events could occur | ||||||
system failures | Inspection of important | Completed inspecting and improving MINORI, foreign exchange settlement, and the | • Completed preventive maintenance for systems on shared platforms. | |||||
Prevention | infrastructure platforms | |||||||
BOJ settlement systems to ensure that there is no significant failure risk | ||||||||
Inspection of | Completed inspecting the limit management status for foreign exchange settlement | • Completed inspecting the limit management status for 16 operations | ||||||
applications | (1 operation and 4 systems) | and 13 systems for domestic and market settlement | ||||||
• Completed checking and tabletop exercises for contingency plans | ||||||||
Customer support in which system | ||||||||
concerning 21 operations including domestic exchange operations | ||||||||
Completed checking and training concerning contingency plans for 9 operations | ||||||||
and business contingency plans are | and other | |||||||
including foreign exchange settlement and market settlement operations and other | ||||||||
• Completed checking and exercises for all target 30 operations were | ||||||||
working in conjunction | ||||||||
Enhancement of | done and will continue to take actions | |||||||
system failure | ATM specification changes and the | Completed releasing of change in specifications to prevent ATM cards and | (Have taken actions continuously to change specifications in order not | |||||
response | bankbooks from being stuck and to introduce specifications to display information to | |||||||
to keep customers waiting in case of trouble) | ||||||||
capabilities | enhancement of customer support | customers on statements | ||||||
capability | Completed preparations to install cameras with speakers in ATM booths | • Installed cameras with speakers in 632 ATM booths (about 30% of | ||||||
the total) | ||||||||
Business operations based on on- | Visualized the operations and personnel required for the maintenance and operation | • Based on the developed framework, started operations and | ||||||
phases and secured personnel | ||||||||
site feedback from IT departments | verifications based on the actual situation of frontline office; will | |||||||
Developed a framework to understand and verify the actual situation of frontline | ||||||||
continue to take actions | ||||||||
and appropriate personnel allocation | offices | |||||||
Governance | Enhancement of IT system risk | Reviewed management items and details in order to comprehend and analyze IT | • Developed a framework to advance system risk management | |||||
system risks appropriately | ||||||||
• Started full-fledged discussion about risk awareness and | ||||||||
Started to take actions to enhance risk awareness to enrich in-depth discussions | ||||||||
management | countermeasures against risks | |||||||
about countermeasures against risks | ||||||||
Developed procedures and structures related to foreign exchange laws and | • Will further develop and enhance procedures and structures mainly | |||||||
Legal compliance | regulations. Conducted and expanded training for management and employees to | related to foreign exchange laws and regulations. | ||||||
further enhance overall legal compliance | • Started monitoring and training concerning the procedures. | |||||||
Personnel and | Reforming corporate culture | Started to take actions to improve business operations and communication | • Have promoted specific actions, including the review of business | |||||
organizations | throughout the organizations sequentially | operations and communication measures, sequentially | ||||||
2. Schedule | 3 |
Prevention of system failures
of system | capabilities |
Enhancement | failure response |
Main measures for improvement | Until end of | Current status | From Jul-Sep 22 | From Oct-Dec | From Jan-Mar | From | |||
Mar-22 | (from Apr-Jun 22) | 22 | 23 | Apr-23 | |||||
Maintenance deadline | Inspection completed | Will continue checking as | regular inspection. | ||||||
MINORI | Shared platform | (Are considering | |||||||
Foreign exchange | Other shared platforms and | Will continue | checking as | ||||||
Preventive maintenance | whether to add | ||||||||
Inspection of | settlement | (private cloud) | transaction channels | regular | inspection | ||||
inspection targets) | |||||||||
BOJ settlement | |||||||||
important | |||||||||
infrastructure | |||||||||
platforms | MINORI | MINORI (deposits/foreign exchange, etc.) and transaction channels (ATM) | Modification, etc. | Will | |||||
continue | |||||||||
Operation when a system failure | (Main HUB) | Modification, | |||||||
Foreign exchange | Transaction channels and market/external settlement | checking as | |||||||
occurs | etc. | ||||||||
settlement | regular | ||||||||
BOJ settlement | Overseas and others | inspection | |||||||
Re-examination of services that | Inspection completed | ||||||||
have not yet been put into use | |||||||||
Inspection of | Limit management/ | ||||||||
Foreign exchange | Deposits, domestic exchange, | Will continue checking as | regular inspection | based on changes | in operations | ||||
operation volume & processing | |||||||||
applications | settlement | ATMs, and market/external settlement | |||||||
deadlines | |||||||||
Regular inspection based on | Deposits, domestic/foreign exchange, ATMs, and market/external | Taxes/public | |||||||
changes in operations | settlement | funds, and others | |||||||
Customer support in which system and business | Foreign exchange | Deposits, domestic exchange, | |||||||
settlement | Will continue to take | actions | |||||||
ATMs, and market/external settlement | |||||||||
contingency plans are working in conjunction | Market (foreign | ||||||||
(JPY), taxes/public funds, and others | |||||||||
currencies) | |||||||||
Introduction of specifications that | Release completed | Will continue to work on improving specifications | |||||||
do not keep customers waiting | |||||||||
ATM | |||||||||
Installation of cameras with | Preparation for | Expanding incrementally | Completing at all | ||||||
Completed at 632 office | 1,809 | ||||||||
speakers | installation completed | ||||||||
(about 30%) | offices | ||||||||
Business operations based on on-site feedback from IT departments and appropriate personnel allocation
Governance | Enhancement of IT system risk management |
Legal compliance | |
Personnel and | Reforming corporate culture |
organizations | |
Development of | Are conducting and continuing operations and verifications | |||
operations and | ||||
structure | ||||
Have reviewed management items and operations | Are conducting and continuing operations and verifications | |||
Will | ||||
Have developed and enhanced procedures, structures, | Will conduct and verify compliance monitoring and training | continue to | ||
take actions | ||||
and training programs | ||||
Are starting to implement and clarify measures (reviewing operations, developing | Will promote and continue measures | |||
organizations, forming employees' working groups, etc.) and are developing | ||||
and utilize infrastructures | ||||
infrastructures | ||||
3. Prevention of System Failures | 4 |
important | platforms | Objective | Inspecting the risk of material |
failure risk of important | |||
infrastructure | systems | ||
Inspectionof | Target | Systems that support | |
operations that need | |||
continuous service, even in an | |||
emergency such as a disaster | |||
or a system failure (109 | |||
systems) | |||
Inspection of important | |||
applications | Objective | systems to ensure stable | |
operation | |||
(Inspecting the | |||
appropriateness of settings in | |||
light of any increase/decrease | |||
in transaction volume, etc.) | |||
of | Systems that support | ||
settlement operations which | |||
Inspection | Target | ||
require the prompt activation | |||
of the contingency plan, | |||
assuming impact on | |||
customers, market | |||
transactions, etc. | |||
(27 systems) |
Actions | Until end of Mar-22 |
1. Maintenance deadline (Target: 109 systems) | Inspection | |||
• Check the maintenance support expiration dates of system | completed | |||
equipment. | ||||
• Clarify the risks related to equipment of which maintenance | (109 systems) | |||
support has expired and develop policies to address the risks. | ||||
details | MINORI | |||
2. Preventive maintenance (Target: 80 systems) | Foreign | |||
• Conduct replacement before a failure occurs or the | exchange | |||
maintenance support expires (preventive maintenance), by | settlement | |||
Inspection | ||||
expanding the inspection standards, detecting signs of | BOJ settlement | |||
errors, etc. | ||||
(41 systems) | ||||
MINORI | ||||
3. Operation when a system failure occurs | (Main HUB) | |||
Foreign | ||||
(Target: 87 systems) | ||||
• Clarify policies to address failures of the infrastructure | exchange | |||
platforms in the case of a system failure (backup switching, | settlement | |||
etc.) by checking whether there is no problem or point to be | ||||
BOJ settlement | ||||
improved in the operation of each equipment and function. | ||||
(6 systems) | ||||
1. Re-examination of MINORI services that | ||||
have not yet been put into use | | Inspection | ||
• Confirm that MINORI transaction services that have not yet | ||||
completed | ||||
been put into use can be properly processed using the | ||||
latest data. | ||||
details | 2. Limit management/operation volume & | |||
processing deadlines | ||||
(Target: 17 systems in FY22 and 10 systems in FY23) | ||||
• Appropriately control the threshold of the resource use rate | Foreign | |||
and the risk of system processing time exceeding the | ||||
operation deadlines by comprehending changes in the | exchange | |||
operation volume and system resource use rates. | settlement | |||
Inspection | 3. Regular inspection based on changes in | |||
(1 operation and | ||||
operations | ||||
4 systems) | ||||
(Target: 17 systems in FY22 and 10 systems in FY23) | ||||
User and IT departments shall regularly share the necessity of | ||||
renewing running systems and the readiness of the contingency | ||||
plan, etc., based on changes in operations in the future, and | ||||
shall appropriately control risks. |
Current status
(as of end of Jun-22)
(Will continue checking as regular
inspection)
- Completed inspections and replacement of systems on shared platforms (private cloud) (24 systems)
Will inspect other platform and channel
systems (15 systems)by Sep-22
- Currently inspecting MINORI (deposits, foreign exchange, etc.) (34 systems) (until Sep-22)
Will start inspections of other remaining 47 systems in Q2 sequentially (until Mar-23)
-
- Completed inspections of limit management status for 16 operations and 13 systems, including domestic and market settlement operations and others, that have significant impacts on customers
Will start regular inspection based on changes in operations from Q2 (until Mar-23)
4. Enhancement of System Failure Response Capabilities | 5 |
Customer support in which system and business contingency plans are working in conjunction | TargetObjective |
ATM specification change and the enhancement of customer support capability | TargetObjective |
Actions | Until end of Mar-22 | Current status | ||||
(as of end of Jun-22) | ||||||
1. Visualize the system configuration and | ||||||
operation flows and reconfirm the impact of | Completed confirmation of the | |||||
system failures on customers | ||||||
IT and user departments working | contingency plan and tabletop | |||||
• Visualize data and operation flows from systems to service | ||||||
in collaboration to ensure prompt | exercises assuming the event of | |||||
provision to customers, utilizing system configuration | ||||||
customer support in the event of | details | diagrams and data maps, etc., and reconfirm the scope and | a system failure for other | |||
system failure | details of the impact of a system failure. | Foreign exchange | remaining 21 operations, | |||
including domestic exchange | ||||||
Inspection | settlement | operations | ||||
Settlement operations that require | provision deadlines and confirm the series of response flow, | (9 operations) | ||||
• Internal communication structure in the | ||||||
2. Confirm the contingency plan, considering | Market (foreign | |||||
service provision deadlines | currencies) | - Checked the following items as well as the | ||||
• Both IT and user departments shall understand service | inspection details in the column at left | |||||
the prompt activation of the | including the deadline of contingency plan activation, etc. | event of a system failure being detected | ||||
• Data, procedures, methods of informing | ||||||
contingency plan, assuming | ||||||
impact on customers and market | 3. Ensure prompt customer support in the | customers, etc., that are required when a | ||||
contingency plan is activated | ||||||
transactions, etc. | ||||||
event of a failure through the above and via | ||||||
(30 main operations) | Will continue to take these | |||||
training in collaboration between IT and user | ||||||
actions regularly | ||||||
departments | ||||||
Developing functions and | 1. Introduce specifications that do not keep | |||||
customers waiting | ||||||
structures that enable us to | • Change specifications to prevent ATM cards and bankbooks | |||||
promptly provide information and | Release | (Will continue to work on improving | ||||
support to customers, without | details | from becoming captured so as not to keep customers | completed | specifications) | ||
waiting in case of trouble. | ||||||
keeping them waiting, in the event | ||||||
of an ATM system failure, etc. | • Introduce specifications to display information to customers | |||||
Inspection | on the ATM screen and in statements. | |||||
2. | Enhance customer support capabilities in | Installed cameras with speakers | ||||
Mizuho Bank ATM | Preparation for | at 632 offices (about 30% of the | ||||
case of trouble | ||||||
(1,809 offices) | installation | total) | ||||
• Install cameras with speakers in ATM booths so as to | ||||||
*As of end of June-22 | completed | Will increase the number of | ||||
promptly provide customer support in case of trouble. | ||||||
ATM booths having cameras | ||||||
with speaker (until March 2023) | ||||||
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Mizuho Financial Group Inc. published this content on 15 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 July 2022 10:53:10 UTC.