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FFIEC Update to Business Continuity Planning Booklet- Appendix J Strengthening the Resilience of Outsourced Technology Services

Recently, the Federal Financial Institutions Examination Council (FFIEC) issued appendix J to the Business Continuity Planning (BCP) booklet of the FFIEC Information Technology Examination Handbook. 

Appendix J of the BCP Booklet discusses that a financial institution should ensure their technology service providers (TSPs) are providing resilient technology services.  According to the booklet, this includes:

  • Third-party management addresses a financial institution management’s responsibility to control the business continuity risks associated with its TSPs and their subcontractors.
  • Third-party capacity addresses the potential impact of a significant disruption on a third-party servicer’s ability to restore services to multiple clients.
  • Testing with third-party TSPs addresses the importance of validating business continuity plans with TSPs and considerations for a robust third-party testing program.
  • Cyber resilience covers aspects of BCP unique to disruptions caused by cyber events.

More information on Appendix J can be found here: http://ithandbook.ffiec.gov/it-booklets/business-continuity-planning.aspx 

How to Benefit from Social Media in a Disaster

Social media can be an excellent method to obtain information during an emergency. Below we have shared a few tips on how social media can be beneficial during a disaster:

1. Alert your clients. If your client base actively follows you on Facebook or Twitter, you can easily update them with updated hours, location closures, and other ways to provide your services.

2. Inform employees. You can easily post details so your employees are informed just by checking a tweet or status update. Be careful to not divulge sensitive or confidential data.

3. Use posts to request emergency assistance.

4. Check for updates regarding the emergency, communications, or any other important information.

5. Communicate safety to friends and family.

Check back soon for more blog updates!

 

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