Business Continuity Planning
This client is a Community Bank. Our client received audit criticism that their Business Continuity Plan had not been tested. The criticism was due in large part to the fact that they had just switched over to a new core servicing application. Our client's challenge was to test their BCP utilizing a new environment and update their plan as needed.
We partnered with our client utilizing Cheryl Gross & Associates project management methodology to:
Manage the testing of their BCP, facilitate lessons learned from the test
and reporting of result to Management.
Review their BCP Plan for compliance with FDIC requirements.
Enhance their BCP Plan.
Cheryl Gross & Associates assigned a senior project manager to conduct the testing and facilitate the required enhancements. Testing of the plan revealed that the BCP was not sufficient to support an enterprise wide recovery. Working collaboratively with our client's team, we:
Conducted a Bank-wide risk assessment.
Facilitated the Business Impact Analysis.
Developed response scenarios and disaster declaration plans.
Updated the Business Continuity Plan.
Developed an ongoing Risk Monitoring program.
We leveraged the efforts of our client's team, utilizing our senior project manager 2 days per week over a 3 month period. Working in partnership with our client we were able to develop a fully compliant, risk based Business Continuity Plan.
Project Management 