Strategies could include cloud architectures, virtualization, and other technologies. The Ultimate Guide To Business Continuity Management for Banks and Credit Unions By Tom Hinkel. As the 2019 FFIEC Business Continuity booklet states, this integration “allows for the identification and management of risks across the entire entity.” This point of clarification helps identify where the business continuity program should live and ultimately report, track, and resolve identified risks/gaps based on a more strategic prioritization. Effective oversight generally includes guidelines to achieve defined business continuity objectives. The booklet was titled "Business Continuity Planning" and focused on foundational elements of the business continuity planning process (e.g., business impact analysis; risk management; policies, standards, and processes; risk monitoring; etc.). These strategies should be risk-based and address all foreseeable risks, including non-technology risks (e.g., transaction, liquidity, and reputation risks). Personnel-related strategies may include logistical arrangements to transport or house staff at alternate facilities. This booklet provides guidance to assist examiners in evaluating financial institution and service provider risk management processes to ensure the availability of critical financial services. The FFIEC also publishes a work program that helps professionals prepare for the business continuity program examination the FFIEC administers. Notable Updates in the 2019 Booklet. The specific strategy in response to an event may be different based on the entity’s capabilities. Business continuity should be incorporated into the risk management life cycle of all systems, processes, and operations of an organization The recent changes to the FFIEC “ Business Continuity Management ” (BCM) booklet hold significance for financial institutions across the United States. Pandemic preparedness is an important part of a financial institution’s business continuity planning. The change from business continuity planning to business continuity management reflects the changes in customer … New FFIEC Business Continuity Management Handbook. Download Booklet Das amerikanische Federal Financial Institutions Examination Council FFIEC hat im März eine aktualisierte Fassung des Business Continuity Planning Booklets veröffentlicht. Revised business continuity guidelines signal change. FFIEC Rewrites Business Continuity Guidance Your recovery plan (the traditional Business Continuity Plan) is now simply a sub-section in your overall Business Continuity Management (BCM) document The all new IT Examination Handbook is more than an update, it’s a complete re-write, and represents a significant change in how the business continuity process is managed. The revised booklet provides information for examiners to assess the adequacy of a bank's risk management related to the availability of critical financial products and services. Supervision of Technology Service Providers, V.E.1, “Data Center Recovery Alternatives,”, II Business Continuity Management Governance, II.A Board and Senior Management Responsibilities, III.A.1 Identification of Critical Business Functions, VII.I Third-Party Service Provider Testing, VII.J Testing for Core and Significant Firms, VII.K Post-Exercise and Post-Test Actions. 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