Vital to the financial industry is good business continuity planning where the impacts of delays can be more readily quantified than with other industries. The need for effective business continuity planning is well-understood at financial services organization. However, a rise in business interruptions due to natural disasters and other activities has brought the need for business continuity plan development and maintenance to the fore-front.
During the course of this workshop, the attendees will gain an understanding of some of the key requirements for Business Continuity and Disaster Recovery at financial services organizations. Topics such as the overall planning framework, Business Impact Analysis, operational recovery requirements, recovery strategies, plan development, testing and feedback mechanism and delivering awareness and training throughout an organization will be discussed. The speaker will expand on other topics that were not of any significant concern to the banking industry until very recently, such as terrorist activities and surviving a pandemic flu. The Federal Financial Institution Examination Council’s (FFIEC) requirements for effective business continuity planning will be addressed.
Service disruptions, delays in responding to customer requests, inability to process transaction in a timely manner or being able to resume business in face of a disaster can have significant impact on an organization’s well-being. Recent natural disasters as well as terrorist activities have shown that an organization’s resilience to a disaster and being able to resume business was directly related to its preparedness to respond to un-foreseen events.
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