FFIEC BUSINESS CONTINUITY HANDBOOK PDF

The IT Handbook is prepared for use by examiners. The change from business continuity planning to business continuity management reflects the changes in customer and industry expectations for the resilience of operations. The BCM booklet describes principles and practices for IT and operations for safety and soundness, consumer financial protection, and compliance with applicable laws and regulations. The BCM booklet also outlines BCM principles to help examiners evaluate how management addresses risk related to the availability of critical financial products and services. This booklet discusses BCM governance and its related components, including resilience strategies and plan development; training and awareness; exercises and tests; maintenance and improvement; and reporting for all levels of management, including the board of directors. The focus of this revised booklet is on enterprise-wide, process-oriented approaches that consider technology, business operations, testing, and communication strategies critical to the continuity of the entire entity.

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The IT Handbook is prepared for use by examiners. The change from business continuity planning to business continuity management reflects the changes in customer and industry expectations for the resilience of operations. The BCM booklet describes principles and practices for IT and operations for safety and soundness, consumer financial protection, and compliance with applicable laws and regulations.

The BCM booklet also outlines BCM principles to help examiners evaluate how management addresses risk related to the availability of critical financial products and services. This booklet discusses BCM governance and its related components, including resilience strategies and plan development; training and awareness; exercises and tests; maintenance and improvement; and reporting for all levels of management, including the board of directors.

The focus of this revised booklet is on enterprise-wide, process-oriented approaches that consider technology, business operations, testing, and communication strategies critical to the continuity of the entire entity. However, business continuity should not be focused only on the planning process to recover operations after an event, but rather it should include the continued maintenance of systems and controls for the resilience of operations.

Business continuity should be incorporated into the risk management life cycle of all systems, processes, and operations of an entity. This booklet does not impose requirements on entities. Appendix A of this booklet provides objectives-based examination procedures.

A Resilience IV. A Event Management V. B Continuity and Recovery V. C Facilities and Infrastructure V. D Payment Systems V. E Liquidity Considerations V. F Other Components V.

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Business Continuity Management

While the updated booklet does not provide specific guidance on timelines for which impacted entities must align to the new guidance, we do know that these changes are effective as of the release date of the document November 14, For example, depository financial institutions, non-bank financial institutions, bank holding companies, and third-party service providers are included under this term. If you are an entity subject to the guidance and audit requirements noted on this page and you generally align to existing FFIEC expectations based on previous examinations, you may have some work to do to continue to meet expectations. This page summarizes the changes you need to know and guidance to help you plan to stay in alignment to expectations as you move into the calendar year First, the updates included broadening certain terms the booklet uses to describe business continuity. As most practitioners will attest, there is a major difference between having business continuity plans and having a fully functioning, strategy-connected business continuity program. The Business Continuity Management booklet has a greater emphasis on proactive risk treatment with a focus on preventing the disruption by making the organization more resilient.

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Financial Institution Letters

Gain greater visibility into your attack surface across on-premise, cloud, and remote office environments. Banks and other financial institutions are taking notice of this update because it could signal changing priorities and new expectations surrounding business continuity within FFIEC member agencies. In order to be optimally prepared for future audits and assessments, IT, risk, and compliance professionals in the finance industry should familiarize themselves with the contents of the updated booklet. Our latest whitepaper goes into detail about the updates and includes suggestions for how financial firms can use them. Here are some of the key takeaways:.

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