Business Continuity Plan
Thrivent Financial and Thrivent Investment Management, Inc., a subsidiary of Thrivent Financial (Thrivent), is committed to ensuring ongoing operations, protecting its business and minimizing loss to its members 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's efforts are to ensure that impact to our members is minimized in the event of a business interruption.
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 member and financial impact to the business. Business areas then develop strategies and procedures to mitigate interruptions of their processes. Critical data and systems are identified and recovery strategies and procedures are developed. Exercises are conducted to ensure continued business functionality. Business continuity plans are updated quarterly and reviewed and signed off on annually. Plans are tested annually according to their criticality.
Thrivent Investment Management Inc.'s business continuity plan strategies provide information on continuity of operations during a variety of interruptions types including building inaccessible, technology damage, workforce reduction and vendor unavailable. Some plans include conducting operations from Thrivent's alternate work sites that have work areas to continue business operations while accessing Thrivent's recovered environment. Thrivent has technical recovery plans and strategies in place to ensure the business recovery priorities can be achieved. Technical recovery plans also ensure processes and procedures are in place to establish a recovery environment of critical applications and infrastructure should an incident occur.
In addition, Thrivent Investment Management Inc. has plans in place to maintain effective communications with its employees, members, and clients during a business interruption.