Federal regulators require banks to maintain emergency preparedness plans, such as Business Continuity, Disaster Recovery, and Pandemic Preparedness Plans. These ensure continuity of the bank in an unlikely event a significant incident or disaster occurs. The consequences to a financial institution can be severe if proper disaster recovery and business continuity planning does not occur and continuity of business fails. In fact, many significant business continuity risks are connected directly to disasters originating from cybersecurity threats.
FFIEC requirements will be at the center of our discussion, to ensure that not only the best plans are constructed, but also that regulatory compliance is achieved. This discussion demonstrates a practical approach to business continuity and disaster recovery that builds upon your IT risk assessment. We will cover topics such as:
- Types of incident and disaster planning
- Regulatory Requirements
- Business Impact Analyses
- Risk Assessment
- Plan Development
- Testing and Improving the plan
Target Audience: information security officer, IT manager, risk officer, internal auditor, and executives looking to understand expectations around business continuity risks.