The Resilient Credit Union

Much like achieving good health is to our body (result of decisions we make and actions we take every day), resilience is to the organization.  It’s built up over time. Just as a strong immune system helps the body fight off germs and viruses, a strong continuity and recovery program helps the organization resist and respond to threats that could disrupt normal operations.

Resilience  \ri–’zil-yən(t)s\ noun “The operational and technological readiness that prepares an organization to make day-to-day operations efficient and cost-effective,  and to resist, absorb and recover from or successfully adapt to adversity or a change in conditions.”

An operational risk is any incident or event that results in a partial or full disruption to one or more processes producing a measurable impact (loss).  Examples include power outage, server malfunction, service disruption, software error, security incident, severe weather, flooding and fire, to name a few.

These incidents can occur in many forms including:

  • Interruption of IT services or loss of data
  • Disruption in the workplace
  • Reduction in the workforce
  • Disruption of a service from a third-party vendor

The impact from these incidents can range from minimal (affecting only one product or service or a single branch) to major (affecting multiple products or services at all branches) across multiple disciplines (Operational, Reputational, Financial, and Compliance).  Regardless of the impact, organizations must be ready to respond. For each type of event or incident, the response must be quick and it must be effective. The only way to achieve this level of readiness is to plan carefully and to practice regularly.

Strict security, disaster recovery and business continuity requirements are a reality facing credit unions and financial institutions today. A static plan is not enough. Developing and implementing a Business Continuity Management (BCM) program that results in a repeatable process focused on continual improvement is the new standard. Resilience starts when business continuity stops being a series of separate activities, is embraced as a business process, and becomes part of day-to-day decision-making and operations.

The success or failure of the BCM program rests on the shoulders of the board and senior management.  As stated in the FFIEC IT Examination Handbook, they are accountable for the oversight and governance of the Business Continuity Planning process, which includes:

  • Establishing policy by determining how the institution will manage and control identified risks;
  • Allocating knowledgeable personnel and sufficient financial resources to properly implement the BCP;
  • Ensuring that the BCP is independently reviewed and approved (annually);
  • Ensuring employees are trained and aware of their roles in the implementation of the BCP;
  • Ensuring the BCP is regularly tested on an enterprise-wide basis;
  • Reviewing the BCP testing program and test results on a regular basis; and
  • Ensuring the BCP is continually updated to reflect the current operating environment.”

Resilience begins with defining the mission, setting the policy, rolling up our sleeves, and never looking back. The good news is that a field-tested roadmap (framework) has been developed to build and maintain a robust BCM program.

planning

Next Steps

CU*Answers offers professional and managed services to help you meet and exceed your recovery objectives. Contact a CU*Answers Continuity Consultant today to discover in-network solutions that best meet your business objectives.

 

AdvantageCIO

Professional Services available include:

  • Business Continuity Planning and Resilience Testing
  • Information Security Risk Assessment
  • Comprehensive Information Security Program (CISP)
  • Staff Security Training
  • IT Examination and Audit Preparation
  • IT Strategy Consulting
CU*Answers Network Services

Managed Services available include:

  • Network Management and Monitoring
  • Continuous Data Protection (CDP) including off-site data storage
  • Virtual Branch / Virtual Office
Updated
February 11, 2015

Is Your Staff Ready for Unexpected Incidents or Disruptive Events? We Can Help.

Is Your Staff Ready for Unexpected Incidents or Disruptive Events?  We Can Help.

Two key components of your Information Security Program is a test-validated Incident Response Plan and a trained response team. Your credit union’s Information Security program should be engrained in the corporate culture and an accepted part of job responsibilities throughout the organization.  Achieving this goal requires an ongoing awareness and training program that educates and prepares… Read more »

Oct 21, 2020

[The Pulse] CU*BASE HA and It’s Me 247 Rollover Results Now Available

[The Pulse] CU*BASE HA and It’s Me 247 Rollover Results Now Available

CU*BASE HA and “It’s Me 247” Rollover Results Now Available HA Rollover: September 13-20 It’s Me 247 Rollover: September 9 & 15 Now available for your review are summaries of the recent HA (high-availability) rollover events performed in September for both CU*BASE core processing and online banking environments. In these reports, you will find details… Read more »

Oct 21, 2020

FREE: Order a DVD Guide on Cybersecurity for Your Credit Union

FREE: Order a DVD Guide on Cybersecurity for Your Credit Union

If your board of directors would like a guide on the basics and terminology of cybersecurity, CU*Answers has produced a DVD that your credit can order, FREE of charge!  Remember that the FFIEC and examining bodies are expecting “the need for engagement by the board of directors and senior management, including understanding the institution’s cybersecurity… Read more »

Oct 13, 2020

3 Down, Just One More to Go! Final Stage of Rollover on Sunday

3 Down, Just One More to Go! Final Stage of Rollover on Sunday

Don’t forget: this month, we will be performing multiple rollovers including CU*BASE/GOLD and Online Banking.  In the past, these rollovers have been performed independently.  However, this month we will be performing the rollovers together.  While we are live with CU*BASE/GOLD production from our High Availability (HA) data center in Yankton, SD, we will also be… Read more »

Sep 17, 2020

Don’t Forget About the Online Banking Rollover Tomorrow Morning!

Don’t Forget About the Online Banking Rollover Tomorrow Morning!

Don’t forget: this month, we will be performing multiple rollovers including CU*BASE/GOLD and Online Banking.  In the past, these rollovers have been performed independently.  However, this month we will be performing the rollovers together.  While we are live with CU*BASE/GOLD production from our High Availability (HA) data center in Yankton, SD, we will also be… Read more »

Sep 14, 2020

Rollover Event This Weekend – Updates to be Posted on CU*BASE Alerts Page

Rollover Event This Weekend – Updates to be Posted on CU*BASE Alerts Page

Don’t forget: this weekend, we will begin performing multiple rollovers including CU*BASE/GOLD and Online Banking.  While we are live with CU*BASE/GOLD production from our High Availability (HA) data center in Yankton, SD, we will also be performing a live rollover of our ItsMe247/ItsMyBiz247 servers to our secondary data center to further test the resilience of… Read more »

Sep 11, 2020

Don’t Forget About the Online Banking Rollover Tomorrow Morning!

Don’t Forget About the Online Banking Rollover Tomorrow Morning!

Don’t forget: this month, we will be performing multiple rollovers including CU*BASE/GOLD and Online Banking.  In the past, these rollovers have been performed independently.  However, this month we will be performing the rollovers together.  While we are live with CU*BASE/GOLD production from our High Availability (HA) data center in Yankton, SD, we will also be… Read more »

Sep 8, 2020

Save the Date: ItsMe247 and CU*BASE GOLD Rollovers Scheduled for September

Save the Date: ItsMe247 and CU*BASE GOLD Rollovers Scheduled for September

During the month of September, we will be performing multiple rollovers including CU*BASE/GOLD and Online Banking.  In the past, these rollovers have been performed independently.  However, this fall we will be performing the rollovers together.  While we are live with CU*BASE/GOLD production from our High Availability (HA) data center in Yankton, SD, we will also… Read more »

Aug 31, 2020

CU*Answers publishes mid-year revision to Business Continuity Plan

On August 5, 2020, CU*Answers announced and published a mid-year revision to their Business Continuity Plan for review by credit unions on the CU*BASE platform to document changes made during the preparation and response to the pandemic outbreak and government stay-at-home mandates across the country. “As a credit-union-owned CUSO and core processor, our clients place […]

Aug 17, 2020

[The Pulse] 2020 Business Continuity Plan (mid-year revision) Now Available

[The Pulse] 2020 Business Continuity Plan (mid-year revision) Now Available

As your core data processor, we continue to invest in high availability and recovery strategies to ensure that the products and services you count on us for are there when you need them. Implementing those strategies and responding when uncertainty happens requires a well-designed and thoroughly tested plan. We’ve recently updated the 2020 CU*Answers Business… Read more »

Aug 5, 2020