Protecting, Maintaining & Evolving : 21st Century Business Continuity for Financial Institutions

Overview: Business continuity planning within the financial industry has been around as long as the discipline itself. Banks and brokers recognized early the importance of ensuring and protecting their essential information, which was most often in paper form. Today they are in new and unusual circumstances, where technology has made them both powerful and vulnerable and they can't take anything for granted. Things that were givens even a year ago are not so certain anymore. Today's business continuity plans need to extend beyond the data center and into security and protection, the business functions, and islands of automation. Recent federal regulations make business continuity a mandated essential for financial institutions. It defines mitigating damage where failure in the first phase of an incident impacts a company's ability to accomplish its established recovery strategies. Where possible, they must manage any incident before it becomes a crisis. Safeguarding employees and material assets equals smarter risk management-and that means thinking the unthinkable. It explains about FFIEC's risk management of outsourced technology services to support risk management.

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Format: HTML | Date: Jan 2003 | Pages: 1