The members of the Federal Financial Institutions Examination Council, including the NCUA, last week released an updated Business Continuity Management booklet intended to help examiners determine whether management addresses risks related to the availability of critical financial products and services.
The updated Business Continuity Management booklet makes clear the agencies and examiners view business continuity as more than just the planning process to recover operations after an event. Rather, they say, business continuity is an integral part of the risk management life cycle of an entity’s systems, processes and operations, including the continued maintenance of systems and controls for the resilience and continuity of operations.
The booklet describes principles and practices for information technology and operations designed to achieve safety and soundness, consumer financial protection, and compliance with applicable laws, regulations and rules.
To view the booklet, click here.