Of all the major areas of business continuity/disaster recovery, pandemic preparation is where financial institutions say they've done the least work. And yet it is the major focus of banking regulators, which in 2008 expect institutions to step up their pandemic preparation efforts.
In this interview, Regina...
Timing is everything, and March was the perfect time to focus on business continuity and disaster recovery.
On the heels of our State of Information Security survey, which showcased your main areas of concern (namely, pandemic preparation), March saw the release of important new guidance: the Federal Financial...
Interview With Emergency Management Expert Regina Phelps
Of all the major areas of business continuity/disaster recovery, pandemic preparation is where financial institutions say they've done the least work. And yet it is the major focus of banking regulators, which in 2008 expect institutions to step up their...
Think the pandemic threat isn't real, or that you needn't prepare a thorough plan to account for it? Your organization's regulators disagree. Pandemic planning is a significant regulatory requirement for every financial institution and a key component in government agency requirements. Register for this webinar to...
The Federal Financial Institutions Examination Council (FFIEC) this week issued long-awaited new guidance on business continuity planning. The update - the first in five years - includes increased focus on business impact analysis and testing, as well as new emphasis on pandemic planning.
Howard Sprow, vice president of Business Continuity Planning for the Securities Industry and Financial Markets Association (SIFMA) is a long-time leader in emergency management issues in the financial services industry. Recently we interviewed him on SIFMA's work in business continuity and pandemic planning.
When it comes to pandemic preparation at U.S. financial institutions, it's a case of good news/bad news.
Bad news first: Many midsized and smaller financial institutions are not fully compliant with the recent FFIEC pandemic guidance and don't have formalized pandemic preparedness plans yet in place.
But the good...
Roberta J. Witty, CISSP and research vice president at Gartner, has more than 30 years of experience in information technology, including positions at major financial institutions. Witty recently chaired Gartner's Business Continuity Management summit held in early March. We caught up with her, and she shared her...
The hurricanes that devastated the Gulf Coast regions in the summer and fall of 2005 are nothing new to most people. The personal tragedies, loss of life and property were well documented by the national media.
But what about the story of one financial institution that weathered the storms and emerged intact - its...
The good news is: The financial services industry is "head and shoulders" above other industries when it comes to being prepared for a pandemic disaster.
The bad news is: There's still a ton of work to be done before banking institutions can say they're truly ready to face such a crisis.
Ultimately, when an institution's plan is complete, there should be four "pillars" in its strategy, says Regina Phelps, an internationally known expert in business continuity planning and emergency management.
From payment card fraud to skimming attacks and corporate account takeover, we've seen a wide variety of threats to banking institutions and their customers.
And with the advent of the ID Theft Red Flags Rule, and in the aftermath of the economic upheaval, we know banking regulators are paying closer attention to...
Charles Perrow, Ph.D., Professor Emeritus of Sociology at Yale University is famous worldwide for his ideas about "normal accidents" -- the idea that multiple and unexpected failures are built into our society's complex system.
In his most recent book, "The Next Catastrophe," published by Princeton University Press...
Pandemic preparation gets the lion's share of the headlines when it comes to Business Continuity/Disaster Recovery these days. And that's fine. The topic deserves the attention. Needs it.
But that's not to say that pandemic preparation is the only topic of BC/DR conversation.
He was the world's first Chief Information Security Officer, and for over 25 years now he has been a true banking/security leader.
Stephen Katz, former CISO at Citigroup, now founder and President of Security Risk Solutions, an information security company providing consulting and advisory services, sat down with...
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