Disaster Recovery and Business Continuity: Lessons Learned and Industry Best Practices

The member agencies of the Federal Financial Institutions Examination Council (FFIEC) and the Conference of State Bank Supervisors have issued a booklet entitled: LESSONS LEARNED FROM HURRICANE KATRINA: Preparing Your Institution for a Catastrophic Event. The booklet relays financial institutions' experiences and lessons learned in the aftermath of Hurricane Katrina that other institutions may find helpful in considering their readiness for a catastrophic event.

Major hardships faced by these institutions included the following:

• Communications outages made it difficult to locate missing personnel.
• Access to and reliable transportation into restricted areas were not always available.
• Lack of electrical power or fuel for generators rendered computer systems inoperable.
• Multiple facilities were destroyed or sustained significant damage.
• Some branches and ATMs were under water for weeks.
• Mail service was interrupted for months in some areas.

This webinar will explain the effects of a disaster and how, by examining what has transpired in the past, financial institutions can develop and maintain a more sound disaster recovery and business continuity plan.

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