How quickly your financial institution can get back to serving customers after a cybersecurity attack, hurricane, wildfire, pandemic or flood often depends on the business continuity management (BCM) program that has been implemented. The Federal Financial Institutions Examination Council (FFIEC) has provided guidance as to the contents of your institution’s BCM program but also emphasizes the importance of a continuous cycle for assessing resiliency by utilizing a ten-step approach. As technology continues to evolve so do the threats that could potentially hamper an institution’s ability to provide financial services to its customers. Business continuity and resiliency plans create a game plan for minimizing interruptions during a crisis.
Just like the emergence of new threats, your BCM program must keep pace. Join us to understand the examination procedures, how to incorporate the ten steps of the business continuity lifecycle, and resilience strategies. In addition, communication with the board and your internal auditor’s role in assessing the BCM’s design effectiveness are key program components. While we can never predict the type or timing of a disaster, we can ensure that our institution has a solid business continuity management program that not only passes an examination but is a valuable tool in the event of a disaster!
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