Thrivent Financial for Lutherans and select affiliates, including Thrivent Investment Management Inc. and Thrivent Distributors, LLC, (“Thrivent”), are committed to ensuring ongoing operations, protecting its business and minimizing loss to its clients in the event of a business interruption. The timing and impact of disruptions are unpredictable and will require Thrivent to respond to actual events as they occur.
Thrivent has established a Business Continuity Management Program which provides guidelines for business continuity plan development, maintenance, assessment, and exercising. Thrivent’s Business Continuity Planning (BCP) Program is intended to ensure the resumption of time sensitive business operations in the event of a business interruption.
Thrivent’s program begins with each business area reviewing its business processes to determine their criticality based upon their potential client, financial, operational, regulatory or brand impact to the business. Business areas then develop strategies and procedures to minimize impact to their processes. Critical data and systems are identified, and recovery strategies are developed. Exercises are conducted to validate continued business functionality. Business continuity plans are updated quarterly and reviewed by plan management annually. These reviews ensure that Thrivent is taking into consideration any plan modifications necessary to account for changes to operations.
Thrivent’s business continuity plan strategies provide information on continuity of operations during a variety of interruption types including Work Location Unavailable, Technology Damage, Cyber Security, Workforce Reduction, and Vendor Unavailable. Thrivent also has technical recovery plans and strategies in place to ensure the business recovery priorities can be achieved. Technical recovery plans ensure processes and procedures are in place to establish a recovery environment of critical applications and infrastructure should an incident occur.
In addition, Thrivent has a plan in place to maintain effective communications with its employees, clients, and regulators during a business interruption.