NCUA requires credit unions to have a fully developed and "living" BCP program.
Good Business Continuity Plans will keep a company running through any interruptions including power failures, IT system crashes, natural disasters, and supply chain problems.
The Plan will be distributed to members of the business continuity team and management.
A master copy of the document should be maintained by the business continuity team leader.
From the kick-off meeting to the annual plan review and tabletop, your Credit Union has a designated planner to walk you through all stages of plan development.
Each of our consultants has Credit Union experience and bring that knowledge to building your plan.
They should discuss whether the threats list is still complete, whether the assessment of risks still makes sense, and whether the defined process steps for each type of incident will meet the goals of keeping the business in operation.
Any changes should be included in the plan, and the updated document should be distributed to all personal who need it.
A and B priorities will need to be addressed with steps appropriate for their level of risk.
Often there will be steps that can be taken to reduce the likelihood of an incident occurring.