| Publisher | Edwards Information | ||
|---|---|---|---|
| Format | 4.7MB PDF | Date added | 01 Mar 2006 |
| Topics | Disaster Recovery, Cost Control - Risk Mgmt., Back-up | ||
| Downloads | 60 | ||
With an almost endless array of external threats, banks need to be prepared for the worst. While a disaster recovery plan - or business continuity plan - is a regulatory requirement, not all plans are created equal. Last year's destructive hurricanes have focused increased attention on the efficacy of disaster recovery, and have helped to highlight potential trouble areas. Disaster recovery plans are not just good business; they're required by the banking agencies. According to the Federal Financial Institutions Examination Council's Business Continuity Planning booklet, board members and senior management are responsible for "Identifying, assessing, prioritizing, managing, and controlling risks." Banks should also make sure that their plans are enterprise-wide, and as business processes change, so should the plan.
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