Create New Function form
On the Create New Function form, fill in the fields.
| Field | Description |
|---|---|
| Name | Name of the function, for example, Financial Accounting. |
| Description | Description for the function. |
| Number | Unique identification number for the function that will be generated by the application, for example, FUN0001003. This field is auto-filled. |
| Department | Department that the function belongs to, for example, Finance. |
| Owner | Name of the owner for the function. |
| Business unit | Name of the business unit that is associated with the function, for example, HR, IT, Legal. |
| Digital resilience information | |
| Function Identifier | Function identifier that is composed by the letter F \(capital letter\) followed by a natural number \(for example, “F1” for the 1st function identifier and “Fn” for the nth function identifier with “n” being a natural number\). For example, when you create newer functions, it will be F1, F2, F3, and so on. This field is auto-filled. |
| Licensed activity | Licensed activity that is referred to in Annex II for different type of financial entities. List of activities that the function is related to. Licensed activity is a particular drop-down list that's been provided by the user and the set of values that are required by the regulator. |
| Function name | Function name according to the financial entity’s internal organization, for example, Financial Accounting. |
| LEI of the financial entity | Financial entity using the LEI, 20-character, alpha-numeric code, for example, LEIACMEGermany001. |
| Function Type | Type of the function. Available options are:
When you select the Business capability option the Select the business capability field is displayed. When you select the Business service, Business process, or Service offering options, the following fields are displayed:
|
| Criticality or importance assessment | Criticality or importance of the function according to the financial entity’s assessment. Available options are:- Yes - No - Assessment not performed |
| Reasons for criticality or importance | Brief explanation on the reasons to classify the function as critical or important. Maximum 300 characters are allowed. |
| Date of the last assessment of criticality or importance | Date of the last assessment of criticality or importance in case the function is supported by ICT services provided by ICT third-party service providers. If you have Operational Resilience, this information is auto -populated. If you do not have Operational Resilience and you are using the application with TPRM, you must fill in this information manually. If the function is service-related and you have Operational Resilience, and you've completed an importance and impact assessment, the default values are copied from that assessment. |
| Recovery time objective of the function | Recovery time objective of the function in number of hours. If the recovery time objective is less than 1 hour, ‘1’ is reported. In case the recovery time objective of the function is not defined, ‘0’ is reported. If a Business Impact Analysis \(BIA\) has been conducted for the business process, service, or service offering, and Business Continuity Management \(BCM\) is also set up in the same instance, then the values are copied from the relevant BIA for this function. |
| Recovery point objective of the function | Recovery point objective of the function in number of hours. If the recovery point objective is less than 1 hour, ‘1’ is reported. In case the recovery point objective of the function is not defined, ‘0’ is reported. If a Business Impact Analysis \(BIA\) has been conducted for the business process, service, or service offering, and Business Continuity Management \(BCM\) is also set up in the same instance, then the values are copied from the relevant BIA for this function. |
| Impact of discontinuing the function | Impact of discontinuing the function according to the financial entity’s assessment. One of the options in the corresponding drop-down list is used. Available options are:- Low - Medium - High - Assessment not performed |