Business Continuity Plan
Thrivent Financial for Lutherans and Thrivent Investment Management, Inc., a subsidiary of Thrivent Financial for Lutherans, (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, operational, and financial 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 then reviewed and signed off on annually. These reviews ensure that Thrivent is taking into consideration any plan modifications necessary to account for changes to operations, structure, business, or location.
Thrivent's business continuity plan strategies provide information on continuity of operations during a variety of interruptions types including: Building Inaccessible, Technology Damage, Cyber Security, Workforce Reduction, and Vendor Unavailable. Some plans include conducting operations from Thrivent’s alternate work sites where business areas continue business operations while accessing Thrivent’s production or 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 has a plan in place to maintain effective communications with its employees, clients, and regulators during a business interruption.