FFIEC RELEASES NEW GUIDELINES
New appendix ensure alignment with regulatory guidance for third parties.
February 19, 2015 – San Diego, CA – The Federal Financial Institutions Examination Council (FFIEC) released a new Appendix J, “Strengthening the Resilience of Outsourced Technology Services,” to the “Business Continuity Planning” booklet of the FFIEC Information Technology Examination Handbook. The new appendix ensures that the booklet aligns with regulatory guidance on third-party relationship risk management and incorporates emerging risks, such as cyber resilience risk concerns. The update was followed up by an OCC bulletin sent to all Chief Executive Officers of All National Banks, Federal Branches and Agencies, and Federal Savings Associations; Technology Service Providers; Department and Division Heads; All Examining Personnel; and Other Interested Parties.
Arbor Continuity is integrating the guidance into all of the firm deliverables to financial service clients. Our unique benchmarking CSoP™ (Current Snapshot of Program™) and risk assessments will incorporate all of the latest guidance materials to ensure that your business continuity programs are meetings with your regulators expectations.
Current Snapshot of Program™ (CSoP ™)
Arbor Continuity Inc. has developed an assessment approach we have termed a Current Snapshot of Program™ (CSoP). The CSoP will benchmark your existing business continuity program against best practices and regulatory obligations. We will leverage our understanding of the BCI good practice guidelines and more detailed ISO 22301framework alongside relevant regulatory and governance guidance documents to get a “snapshot” of your business continuity programs resilience and level of maturity. The deliverable will be a report card that evaluates the current BC program. This will be used to provide insight into areas of improvement and will not be a formal audit of capabilities.
About Arbor Continuity
Arbor Continuity provides comprehensive business continuity planning (BCP) and management consulting to companies of all sizes and industries to help them keep their employees safe and maintain business operations when crises strike. The firm specializes in three areas: designing and implementing effective programs, recommending and configuring BCP software tools, and recruitment of BCP professionals. The principals of the firm have decades of dedicated BCP experience working with some of the largest global firms. The company has headquarters in San Diego, CA and can be found online at http://arborcontinuity.com.
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