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.

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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

[The Pulse] 2018 Business Continuity Plan Now Available

[The Pulse] 2018 Business Continuity Plan Now Available

CU*Answers Business Continuity Plan: 2018 Release 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… Read more »

Jan 29, 2018

[The Pulse] Item Processing Disaster Recovery Test Report Now Available

[The Pulse] Item Processing Disaster Recovery Test Report Now Available

Item Processing Disaster Recovery Test: Report Now Available For those credit unions who currently use CU*Answers for Electronic Check Processing (ECP), this report is for you. This past September, teams at CU*Answers completed the annual test by restoring the CheckLogic environment and performing daily check processing operations from systems at our secondary data center. This exercise… Read more »

Nov 7, 2017

It’s moving day: the Muskegon data center is coming back to GR this weekend!

It’s moving day: the Muskegon data center is coming back to GR this weekend!

Data Center Migration Project Saturday, November 11, 2017   On Saturday, November 11th, starting at 9:00 AM ET, teams from CU*Answers will engage in a data center migration project by powering down and moving servers at our Muskegon data center to the Grand Rapids data center located within the corporate office facilities.  The servers involved… Read more »

Nov 6, 2017

[The Pulse] HA Rollover Results Now Available

[The Pulse] HA Rollover Results Now Available

HA Rollover Results Now Available Rollover: September 17 – 20 Now available for your review is a summary of the recent HA (high-availability) rollover event, performed September 17 – 20.  In the report, you will find details about the exercise, including challenges observed, lessons learned, and recommendations for improving the rollover process. HA Rollover Results… Read more »

Oct 27, 2017

Reminder: Complete a Connectivity Test for this Sunday’s HA Rollover

Reminder: Complete a Connectivity Test for this Sunday’s HA Rollover

The next CU*Answers (HA) High Availability Rollover is scheduled for September 17-20.  During this rollover event, there will be an interruption lasting approximately 30-60 minutes for CU*BASE core-processing applications, including CU*Talk audio response and It’s Me 247 online banking (a splash page will be presented). As a proactive step, we are recommending that you test connectivity… Read more »

Sep 12, 2017

[The Pulse] HA Rollover Scheduled for Sunday, September 17

[The Pulse] HA Rollover Scheduled for Sunday, September 17

High Availability Rollover Scheduled Sunday, September 17 – Wednesday September 20 During this rollover event, we will redirect CU*BASE core-processing from our primary production data center to systems at our high-availability (HA) data center. The rollover process will begin at 10 PM ET on Sunday, September 17. We will continue providing live production of CU*BASE… Read more »

Aug 31, 2017

[The Pulse] Updated 2017 Business Continuity Plan Now Available

[The Pulse] Updated 2017 Business Continuity Plan Now Available

CU*Answers 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… Read more »

Jul 21, 2017

Incident Response Planning – presented by the CU*Answers Business Continuity Team

Incident Response Planning – presented by the CU*Answers Business Continuity Team

Join Jim Lawrence, CBCP, Business Continuity Manager at CU*Answers, as he discusses the stages of a live incident response and the elements of an effective incident response program.  New for 2017, this 30-minute webinar will help you to understand what an actual response looks like, and prepare you to design and test a response plan,… Read more »

Jun 28, 2017