6 things to do now to improve your credit union BCP checklist
by. Mark Komnik
Do you remember when DR was considered the responsibility of the IT Department? The main focus was to ensure systems were back up and running as quickly as possible after an event, such as a hurricane, flood, or fire. Those times have certainly changed as now everyone is expected to contribute to the operational stability of the credit union.
Today, a credit union must not only be prepared for big disasters, but also for WHEN, not IF, the unexpected strikes. More often than not, it’s not always a major event that can force a credit union into business continuity mode. While the big disasters – hurricane, flood, and fire – get publicity, it’s the smaller events, such as a power outage or sewage backup that can also cause an impact on your day-to-day organizational operations. To have an effective and complete credit union BCP, everyone, not just IT, must be involved in the process.
Here are some best practices to follow to ensure your credit union is protected and ready:
- Conduct a Risk Assessment. This should be your starting point in the BCP process. Determine how vulnerable your credit union is to a disruption in your operations by taking an overview of your business processes, and infrastructure, and identify the potential risks. For more tips on DR/BCP Risk Assessments, download a copy of our eBook, Business Continuity Planning – Part 1.
- Create an Inventory. Each department should maintain a list of assets, mission-critical systems and software, as well as a list of vendors that might be needed during an event. This is especially important for the IT Department, as telecommunications, networking, and security should also be addressed.
- Develop Procedures. In addition to the credit union’s normal policies and procedures, have each department develop policies and procedures for operating during emergency situations. Be sure all employees are aware of them and how/where to access them when they are needed.