Banking remains the most mature industry in terms of business continuity. Driven by a body of regulatory requirements that focuses on both business and technology recovery, each bank`s business continuity program is reviewed regularly. Regulators look beyond the existence of the plan, and pay close attention to all aspects of the business continuity lifecycle, with particular emphasis on the business impact analysis (BIA) and testing.

Rsk management executives continue to focuse on prioritizing core business functions, services and technologies using the BIA, developing crisis management processes to respond more effectively to a variety of events, and implementing programs to test the effectiveness of business continuity strategies.

The banking industry`s business continuity program scope is highly pervasive. Beyond the "typical" corporate processes (i.e. human resources, payroll, accounting, investor relations, etc.), the program scope extends to:

• Key processes contained within core lines of business (i.e. retail banking, commercial banking, mortgage operations, brokerage operations, etc.)
• Item processing
• Call center operations
• Credit card and ATM operations

Each organization is unique and requires its own set of customized solutions. Contact us today to take advantage of a complimentary, 30-minute discussion with one of our experts to further explore business continuity strategies and challenges specific to your organization.

Learn more on how to mature your financial organization`s Business Continuity Program

FFIEC Updates the Business Continuity Standard for Banks