FFIEC BUSINESS CONTINUITY PLANNING BOOKLET

Search News and Issuances Archive. Business continuity planning involves the development of an enterprise-wide BCP and the prioritization of business objectives and critical operations that are essential for recovery. The BCP should be updated based on changes in business processes, audit recommendations, and lessons learned from testing. 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:. Share email linked in facebook twitter. To submit news stories to Continuity Central, e-mail the editor. To accommodate banks with limited access to the Internet, the OCC will also include the booklet in the next release of e-files, the DVD-based library of OCC publications provided to all national banks.

An effective third-party management program “should provide the framework for management to identify, measure, monitor, and mitigate the risks associated with outsourcing. To submit news stories to Continuity Central, e-mail the editor. Laws, Regulations, and Guidance Appendix I — This new section provides the reader with internal and external resources related to business continuity planning. This process-oriented approach will be discussed in the first part of the booklet, with additional information included in the appendices. Site Map Text Size: This section of the website provides manuals, guides and forms that may be of use to credit unions. Resources Risk Bulletin Technology Bulletin.

Economics Staff Ffiec business continuity planning booklet and Working Papers. Doing Business with the OCC. 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.

The booklet also was designed to provide guidance to financial institutions about the implementation of their business continuity planning processes. Problems encountered by financial institutions affected by hurricanes Katrina and Rita were addressed, and mitigating controls that worked well for these financial institutions were also included in this section.

This process-oriented approach will be discussed in the first ffiec business continuity planning booklet of the booklet, with additional information included in the appendices. For further information contact Bank Information Technology Operations A pandemic outbreak would present unique business continuity challenges and all credit unions should have plans that address how they would manage during a pandemic.

Search News and Issuances Archive. For news as it happens, subscribe to Continuity Central on Twitter. Third-party capacity highlights the possible impact of a major disruption on the TSP’s ability to restore services to multiple clients. Job Seekers Join one of the best places to work. Learn how our policies and examination programs help millions to confidently use credit unions for their financial needs.

Financial industry participants that perform clearing and settlement activities for critical financial markets core firms and organizations that process a significant share of transactions in critical financial markets significant firms are required to follow interagency guidelines, Refer to the “Interagency Paper on Sound Practices to Strengthen the Resilience of the Ffiec business continuity planning booklet.

The BCP Booklet contains ffiec business continuity planning booklet to assist examiners in evaluating financial institution and service provider risk management processes to ensure the availability of critical financial services. Capabilities Contact our professionals. 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 risk concerns.

Turn on more accessible mode. 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.

Business Continuity Planning

The ffiec business continuity planning booklet booklet provided only general guidance regarding the BIA process. This framework should include a plan for short-term and long-term recovery operations.

March 19, To: Survey of Credit Underwriting Practices Report. 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. The revised booklet also contains an appendix addressing pandemic planning.

FFIEC IT Examination Handbook InfoBase – Business Continuity Planning

Media Contacts Public Affairs. Economics Staff Publications and Working Papers.

ffiec business continuity planning booklet Freedom of Information Act Request. Financial institutions that do not directly participate in critical financial markets, but support critical financial market activities for regional or national financial sectors, are also expected to establish business continuity planning processes commensurate with their importance in the financial industry.

Glossary Appendix B — Ffiec business continuity planning booklet included in the edited sections of this booklet was incorporated into a glossary. Third-party management Third-party capacity Testing with third-party technology service providers Cyber resilience.

Click here to download the full text in PDF format http: The revision can be read here PDF.

Turn off more accessible mode. Survey of Credit Underwriting Practices Report. In addition, third-party interdependencies and related telecommunications issues, liquidity concerns, transaction processing and report distribution, and due diligence requirements were also addressed. Comptroller of the Currency.

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.