How Can Your Business Continuity Plan Help with Your Company’s Living Will?

The secret to developing your company's Living Will is already in your business continuity plan!

By John Beattie and Charles Iannuzzelli Did you know that businesses can have living wills? In fact, all banks and many other financial institutions are required by law to develop and maintain Resolution Plans, also known as Living Wills. A Living Will describes the company's strategy for rapid and orderly resolution in the event of material financial distress or failure of the company. These plans must be approved by the FDIC, the Federal Reserve Bank, and the Financial Stability Oversight Council. They must then be continuously maintained to reflect the realities of a changing business environment. Many banks and financial institutions find the development and maintenance of Living Wills … Read more

Why Maps Matter to Business Continuity and Risk Professionals

Connecting data and events through maps is the next game-changer for business continuity and risk professionals.

Maps matter to us as humans. According to Wikipedia, the earliest known maps are of the heavens. Geographic maps of territories also have a very long tradition and exist from ancient times. The word "map" comes from the medieval Latin Mappa mundi, where mappa meant “napkin or cloth,” and mundi meant “the world.” Thus, "map" became the shortened term referring to a two-dimensional representation of the surface of the world. In practice, maps help us make sense out of complex information. They provide order to the content we process on a daily basis. Why else would we use the word in so many contexts? Think about it: we rely on road maps, site maps, dependency maps, customer journey maps, route … Read more

How March Madness Can Help Up Your Business Continuity Game

march madness, business continuity

Basketball and business continuity are in my blood. When it comes to hoops, I played in college, I love watching the game, and I am raising the next generation of players. As for business continuity, well, it’s my main focus five days out of seven (and sometimes more). So perhaps it’s not surprising that when my eyes are on the court, my mind is making connections to a business continuity and disaster recovery (BC/DR) playbook. One of the biggest correlations I see is in the area of situational awareness. Take basketball first. Ever watch a group of 6-year-olds play? The little guy with the ball dribbles slowly and determinedly down the court with his head down, completely oblivious to th … Read more

BC Champions Blog Series: Aetna’s Laurel Gibbard On The Business Continuity Awareness Plan

business continuity awareness plan

In This BC Champions Post, We Cover The Business Continuity Awareness Plan With Aetna's Laurel Gibbard.[/caption] My favorite part of my gig in product marketing is meeting with clients. Many of them, in my opinion, are Business Continuity (BC) Champions. They have a great point of view, valuable experience, and advice their peers need to hear! I am tickled that Laurel Gibbard from Aetna kindly agreed to share her thoughts on business continuity awareness plans with me. Laurel is an active member of the SunGard Availability Services Software User group and a regular presenter. She has seen it all as a Senior Disaster Recovery (DR) Consultant in both the public and private sectors. I always … Read more

Cyber Security Is Not Enough: You Need Cyber Resilience

cyber security

By Matthew Goche and William Gouveia It’s true. Cyber attackers have an edge on you. Just look at recent incidents of credit card information being stolen from Target and SnapChat users’ names and cell phone numbers being published online. They’ve got the innovation. Normally, innovation is a great thing. However, we could personally do without it being applied to introducing new cyber threats. They’ve got the timing. Surprise is on their side, and they take total advantage of it. They’ve got the target. They know where your crown jewels are kept, and they are going for the prize. Breaches and break-ins are, quite simply, inevitable. And the best cyber security program in the world isn’t … Read more

How To Be Best-In-Class When It Comes To Business Continuity And Disaster Recovery

business continuity

With the slew of ice storms, hurricanes, and other natural disasters in recent years, “business continuity” and “disaster recovery” have become buzz words in the business world. Organizations want to know how to protect their data and keep their business afloat should a disaster or some other cause of downtime occur. And, according to a new infographic released by SunGard AS (see below), 74% of organizations consider unplanned IT and telecom outages a threat to their business – and they should. With the cost of downtime ranging from more than $8,500 per hour for small companies to more than $686,000 per hour for large companies, there’s a big reason to make sure your business continuity and … Read more

How to Get Your Data Through Winter Blizzards, Part 2: Communicating and Practicing your Business Recovery Plan

blizzards

In Part 1: Establishing Your Business Recovery Plan, I discussed the three most important pieces of creating your plan for recovering data and continuing normal operations after a winter-related disaster: business, buildings, and people. When disaster strikes there are three major steps to begin the process of managing the incident: 1. Mobilize your central command center, activate your business recovery plan, and identify how long your organization can operate in a recovery state. 2. Manage your employees and carefully document their processes, both in terms of how to recover and how to operate. 3. Practice or test to refine processes and plans using a variety of scenarios. Once … Read more

How to Get Your Data Through Winter Blizzards, Part 1: Establishing Your Business Recovery Plan

winter

Hurricanes are not the only disasters that can disrupt your business. Hurricane season spans from June 1 to November 30, but then Old Man Winter enters. As we know, winter storms can be most challenging, causing many forms of emergencies. Winter storms and nor’easters (winter’s hurricane) create blizzards, high winds and damaging surf, heavy snow, sleet, and damaging ice. These conditions can cause communication failures, power outages, road closures, mass transit issues, and water main breaks – all of which pose risks to your buildings, business, and employees. With winter now in full swing and a polar vortex covering most of the United States, some businesses may need to pay close atten … Read more