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Enhancing Disaster Preparedness in Credit Unions: Key Insights and Actionable Strategies

This presentation reviews essential disaster preparedness strategies for credit unions, utilizing insights from the New Jersey Credit Union League and AT&T's Business Continuity Study. Key findings indicate an increased focus on mobile security, with 86% of organizations having a disaster plan in place. The five core principles of disaster planning are Awareness, Preparation, Mitigation, Response, and Recovery. Emphasizing employee roles, communication strategies, and routine testing are vital for effective disaster recovery. Join us as we explore how to strengthen your organization’s resilience against potential threats.

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Enhancing Disaster Preparedness in Credit Unions: Key Insights and Actionable Strategies

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Presentation Transcript

  1. Compliance Outlook InfoSight Disaster Preparedness

  2. Disaster Preparedness The information reviewed in this presentation stems from InfoSight and was provided with the assistance and advice of the New Jersey Credit Union League, who manage the business continuity planning information provided in InfoSight.

  3. Business Continuity Study • AT&T conducted a Business Continuity Study in 2013 and reports: • 52 percent of IT executives surveyed anticipated the spending for mobile security services to increase. • 86 percent already have a business continuity plan in place in the event of a disaster or threat — up - 8% increase in over the past five years. • Six out of ten (60%) invest in mobile security services with the majority (69%) indicating potential security breaches as the most pressing concern.

  4. Disaster Preparedness • The five principles of disaster planning include: • Awareness; • Preparation; • Mitigation; • Response; and • Recovery.

  5. Disaster Preparedness • Internal operations must be considered when developing and implementing your Disaster Preparedness and Recovery Plan; including: • Information Technology; • Facilities; • Security; • Communication; and • Asset Issues.

  6. Disaster Preparedness • Employees play an important role in disaster recovery: • Establish a communication strategy; • Run through scenarios; and • Make sure employees are organized and knowledgeable.

  7. Disaster Preparedness Testing To test the credit union’s plan: • Implement pre-disaster actions; • Communicate disaster preparedness and response efforts; • Create “living documents” to be updated as circumstances change; • Develop life-like scenarios;  • Introduce new problems throughout the disaster simulation;

  8. Disaster Preparedness Testing To test the credit union’s plan: • Take detailed notes to recording weaknesses or opportunities; • Hold a post-mortem meeting to discuss what worked and what didn’t; • Maintain a detailed record of the simulation activity; • Keep a record; • Revise the plan and to key personnel. • Remember to re-test problem areas in future drills.

  9. Disaster Preparedness Testing

  10. Thank you for joining me for this review of the Disaster Preparedness Stay Tuned… Shawn Wolbert, CIA, CUCE Director CU System Relations 101 S. Washington Square, Suite 900 Lansing, MI 48933-1703 (800) 262-6285 Ext. 486 (734) 658-5427 Mobile Follow me on Twitter – Shawn Wolbert @ Go2CUGuru

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