FFIEC BUSINESS CONTINUITY PLANNING BOOKLET

Technology

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Search News and Issuances: Freedom of Information Act Request. According to the appendix, even if financial institutions outsource technology services, it is still their responsibility to “ensure that outsourced activities are conducted in a safe and sound manner. The appendix discusses four key elements of business continuity planning that should be addressed when contracting with TSPs to ensure that they are strengthening the resilience of the institution’s technology resources: Sound planning should minimize the disruptions to the local and national economy, and should help the institution maintain the trust and confidence of its customers. This process-oriented approach will be discussed in the first part of the booklet, with additional information included in the appendices.

The guidance attached to this bulletin continues to apply to federal savings associations. Media Contacts Public Affairs. While this approach is reflected as four steps, the business continuity planning process actually represents a continuous cycle that should evolve over time based on changes in potential threats, business operations, audit recommendations, and test results. Search News and Issuances: Sign up for Continuity Briefing , our weekly roundup of business continuity news. The adverse economic effects of a pandemic could be significant, both nationally and internationally. Financial institutions should partner with their technology service provider s as needed to strengthen the resilience of outsourced technology as recommended through this guidance.

Third-party management Third-party capacity Testing with third-party technology service providers Cyber resilience Financial institutions should partner with their technology service provider s as needed to strengthen the resilience of outsourced technology as recommended through this guidance. Please note that this is a page from a previous version of Continuity Central and is no longer being updated. The revised booklet also contains an appendix addressing pandemic planning.

To see the latest business continuity news, ffiec business continuity planning booklet and information click here. Due to their crucial financial and economic role, financial institutions should have plans in place that describe ffiec business continuity planning booklet they will manage through a pandemic event.

Learn how our policies and examination programs help millions to confidently use credit unions for their financial needs. The four steps in this process include:. Sound planning should minimize the disruptions to the local and national economy, and should help the institution maintain the trust and confidence of its customers.

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This resilience of technology is the focal point of Appendix J.

Pages – FFIEC Release of Updated Business Continuity Planning Examination Handbook

Significant revisions to the booklet include the following:. This framework should include a plan for short-term and long-term recovery operations. Resources Our Key Professionals Capabilities.

The business continuity planning process involves the recovery, resumption, and maintenance of the entire business, not just the technology component. Doing Business with the OCC.

As such, mitigating strategies to resolve potential problems surrounding these ffiec business continuity planning booklet were specifically addressed in this section. Business continuity planning includes the integration of the institution’s role in financial markets.

Share email linked in facebook twitter. Changes in business processes include technological advancements that allow faster and more efficient processing, thereby reducing acceptable business process recovery periods.

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Without an enterprise-wide BCP that considers all critical elements of the entire business, an institution may not be able to resume customer service at an acceptable level. Laws, Regulations, and Guidance Appendix I — This new section provides the ffiec business continuity planning booklet with internal and external resources related to business continuity planning.

Description: Business Continuity Planning Booklet

Freedom of Information Act Request. Management should also prioritize business objectives and critical operations that are essential for survival of the institution since the restoration of all business units may not be feasible because of cost, logistics, and other unforeseen circumstances. In response to competitive and customer ffiec business continuity planning booklet, many financial institutions are moving toward shorter recovery periods and designing technology recovery solutions into business processes.

Resources Risk Bulletin Technology Bulletin.

FFIEC updates Business Continuity Planning Booklet

This section of the website provides manuals, guides and forms that may be of use to credit unions. In addition, this process should include each critical business function and the technology that supports it.

The guidance attached to this bulletin continues to apply to federal savings associations. Media Contacts Public Affairs. These technological advances underscore the importance of maintaining a current, enterprise-wide BCP. The new appendix ensures that the booklet aligns with regulatory guidance on third-party relationship risk management and incorporates emerging risks, such as cyber resilience ffiec business continuity planning booklet concerns.

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Search News and Issuances: Laws, Regulations, and Guidance Appendix J: Examination Procedures Appendix B: The appendix highlights and strengthens the BCP Booklet in four specific ffiec business continuity planning booklet. This section provides corporate credit unions with guidance letters, the corporate examiner’s guide and other resources. March 19, To: Pandemic Planning Appendix E: Business Continuity Planning Booklet The guidance attached to this bulletin continues to apply to federal savings associations.

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FFIEC updates Business Continuity Planning Booklet

Want an RSS newsfeed for your website? Community ffiec business continuity planning booklet should adopt risk management practices commensurate with the level of risk and complexity of their outsourced services.

As such, other policies, standards, and processes should also be integrated into the overall business continuity planning process. The booklet also was designed to provide guidance to financial institutions about the implementation of their business continuity planning processes. Comptroller of the Currency. Business Continuity Plan Components Appendix G — The most significant problems faced by the senior management of financial institutions that suffered devastation from hurricanes Katrina and Rita involved the lack of available personnel; the communication breakdown among financial institution employees, regulators, and service providers; the unavailability of telecommunications systems; cash shortages; and employee unfamiliarity with ffiec business continuity planning booklet operations.

The appendix discusses four key elements of business continuity planning that should be addressed when contracting with TSPs to ensure that they are strengthening the resilience of the institution’s technology resources: Survey of Credit Underwriting Practices Report. District and Field Offices. Turn on more accessible mode.