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Recovery Solutions Monthly Newsletter
September 2016
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Greetings!
What would you pay for a full-service disaster recovery solution and testing services that would ensure your institution is FFIEC compliant and ready to effectively resume business should disaster strike? It's much less expensive than many compliance officers expect. With a combined 130 years of banking industry experience and knowledge, our team provides service and expertise that is unbelievably affordable. This month we talk about the cost of Recovery Solutions annual enrollment and the value it provides.
This is the time of year we send our children back to school, watch the leaves start to turn, and settle in with our pumpkin spice delicacies. The threat of disaster is probably furthest from our minds. In fact, many probably believe that threat has passed for the year. That is not necessarily the case and here are some topics to think about as we head into the fall season:
- Man-made disasters and security breaches are year-round risks for banks and credit unions. On September 15, the FFIEC updated their Information Security Booklet. If you're responsible for your institution's information security or risk management, you'll want to be sure to read the update.
- History has proven that the fall months can still pose the threat of severe weather. It is still hurricane season and the months of September and October can produce natural disasters like flooding, severe storms, tornadoes in the Southern and Midwestern states and fire in the West. We've found some helpful resources that can help your staff prepare and remain vigilant year round.
Recovery Solutions is an industry leader in disaster recovery services, testing, and restoration for the financial industry. Click here to join our newsletter mailing list for monthly updates and tips for disaster recovery. Or email us to register for a free seminar for more information.
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Disaster Recovery Services - Cost or Investment?
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Unfortunately there's no way to calculate the true costs of failing to effectively plan for disaster. But what if we told you that for less than what your bank or credit union likely spends per year on ink toner cartridges for company printers and copiers, you could have peace of mind and receive expert disaster recovery and testing services? The cost of annual enrollment as a Recovery Solutions client is far more reasonable than many small-to-medium size institutions realize.
Recovery Solutions Annual Enrollment Includes:
- Satellite Communications Network to connect to your service bureau and access to the Internet
- Voice over Internet Protocol (VoIP) telephone system which includes telephone lines and handsets over encrypted satellite
- Modular Bank Facility (MBF): 14' x 66' or 24’ x 66’ units include Drive-up, teller counters, private office(s), bathroom(s), conference/break room, night deposit box/safe
- Diesel generator to support electricity to MBF
- Comprehensive Computer Technology Package – Windows 2008 / 2012 file servers, PC workstations, image capture device, validation/receipt, passbook and laser printers, as well as relevant network equipment
- Annual comprehensive disaster recovery test – provides a “proof of restoration” by restoring a bank branch with technology, satellite communications, and restoration of your applications and data via virtual images
These services prove themselves to be "priceless" if disaster should strike your facility. But having the knowledge that your location is fully tested and will have the necessary tools, guidance, and support to resume business quickly is truly an investment in the success of your business.
Contact Recovery Solutions today to learn more.
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FFIEC Issues Information Security Risk Assessment Advice
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Thursday, 15 September 2016 The US Federal Financial Institutions Examination Council (FFIEC) has issued a revised Information Security booklet, which is part of the FFIEC Information Technology Examination Handbook.
The revised booklet addresses the factors necessary to assess the level of security risks to a financial institution’s information systems. The booklet also helps examiners evaluate the adequacy of the information security program’s integration into overall risk management.
The Information Security booklet describes effective information security program management, including the following phases of the life cycle of information security risk management:
- Risk identification
- Risk measurement
- Risk mitigation
- Risk monitoring and reporting
The FFIEC Information Technology Examination Handbook is available at http://ithandbook.ffiec.gov/
Source: Disaster Recovery Journal
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Business Preparedness Checklist
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Hurricane Season is upon us and that has financial institutions nationwide on alert not only for tropical storms along the coasts, but also inland where weather patterns can be disrupted causing damage from flooding and storms. N
ational Oceanic and Atmospheric Administration (NOAA)
hurricane experts predict between 12-17 named storms this year, two of which being Category 3 or higher.
With the devastation from Hurricane Katrina in 2005, there were many lessons to be learned. In this
report from the FDIC, they share key items to bear in mind when preparing for catastrophic events.
To help your staff prepare for a hurricane, tornado, or other natural disaster, we found a
helpful tool from hurricanesafety.org.
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Not every Recovery Solutions client encounters a disaster. But they do have the peace of mind knowing that they are prepared, tested, documented, and FFIEC compliant. Working with our team enables your institution to be prepared every day you are in business. Here's what Brenda Vohland, the former compliance officer for Fairview State Banking Company had to say:
"Thank you for all your help with our Disaster Recovery test this year! This was the fourth test I have conducted and the first one that I felt was successful. This is the first year with Recovery Solutions for our bank and we were very pleased with the support we received from you. The VMware images of our server and computers made all the difference. The help during the test was and the results were very exciting for me. The report compiled by your staff will be helpful for subsequent tests and also for IT exams.
While I do not hope for a disaster, I have more confidence that we will be able to recover in a short amount of time."
Our team of financial industry experts guides you through the process of building a business continuity plan, testing it, and documenting a "road map" to recovery. Call today or email us to schedule a private webinar presentation to learn more about Recovery Solutions services!
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