article thumbnail

Everything You Need to Know About Business Continuity Plans

Erwood Group

Everything You Need to Know About Business Continuity Plans. Business Continuity Plans. Chances are if you’re visiting this page, you are new to the concept of Business Continuity Plans (BCPs) and business continuity overall. Definition of Business Continuity Plan.

article thumbnail

An Introduction to FFIEC: BCM’s Gold Standard

MHA Consulting

Collectively, these guidelines make up the FFIEC Business Continuity standard, whose purpose is to make sure the banks and other financial institutions that are required to follow it can continue to operate even if they are hit with a disruption. The FFIEC standard can be found here, and it’s completely free. Not even close.

BCM 74
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Unlocking the Truth: Navigating 20 Myths About Business Continuity

Erwood Group

In times of crisis, a comprehensive business continuity plan ensures that every facet of the organization is resilient. Myth 2: Business Continuity Plans Are Only for Large Enterprises. Size doesn’t dictate the need for business continuity. Myth 5: Business Continuity is Too Expensive for Small Businesses.

article thumbnail

TSPs: Making the Case to Invest in Risk and Resiliency

Fusion Risk Management

Many of our own customers have said that having a “tone at the top” from leadership is critical to get their business team’s buy-in, as no one really wants to take a time out to work on their continuity plans or risk mitigation strategy. Ability to Procure Cyber Insurance.

article thumbnail

Cyberrisk Management Tips for Businesses Amid the Russia-Ukraine War

Risk Management Monitor

According to experts ranging from independent cybersecurity professionals to officials at the Cybersecurity and Infrastructure Security Agency (CISA), organizations at greatest risk right now include critical infrastructure , banks and other financial services firms, and of course key service providers in Ukraine or Russia.

article thumbnail

The Best Risk Management Software to Consider for 2021 and Beyond

Solutions Review

The platform also offers continuity planning capabilities, allowing users to sequence their actions based on dependency and what-if analysis, rather than static plans.

article thumbnail

The Colonial Pipeline Hack: Failure in Risk Management

LogisManager

In recent years, these attacks have affected everyone from banks and hospitals to universities and municipalities; almost 2,400 organizations in the United States were victimized last year alone. The less prepared you are when responding to an incident, the more likely you’ll be forced into paying ransom.