Understanding the Importance of a Bank's Disaster Recovery Plan

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Introduction
A Disaster Recovery Plan (DRP) is planned to guarantee the continuation of important business processes in the event that a natural or man-made disaster occurs. A DRP will offer an effective system that can be used to recover all important business processes needed to maintain normal operations within an organization promptly. A DRP will allow any organization the ability to handle events surrounding any crisis that takes place.
ANBA Disaster Recovery Plan main objective
Regardless of your occupation or trade when a disaster occurs you must be prepared for it. For a bank this is very important for them to have a Disaster Recovery Plan (DRP) in place, because of the high demand for the services the bank provides as well as the …show more content…

Employee training and DRP testing are other key ways to mitigate risk. Employees should know what information is in the banks DRP and how to implement the plan. They also need to know who at the bank has the authority to declare a disaster and implement the plan. Awareness for this program is not just for the junior employees, but for leadership as well, everyone has to be on board as well as understand the DRP for it to be successful. Testing the DRP before the disaster happens is away to get the most value from the plan. The use of plan objectives and all hands participation help to mitigate unnecessary risk, minimize down time, and enable the effectiveness …show more content…

To hear people say “I did not think this could happen to me" is unacceptable when you have customers and stakeholders reliant on you to maintain your business operations. A customer does not have a problem moving their business (money) to another institution that can offer more reliability. Today many business that handle move large amounts of funds daily want to know what type of back-up and recovery plan to a financial institution have in place in case of a natural disaster. Just because a natural disaster takes place in California does not mean that business will stop across the rest of the globe. It is difficult for some businesses to recover from a natural disaster even with a plan in place imagine how hard it would be without anything in place. Leadership needs to understand it is not just their customers business at risk, theirs as well. Per the Institute for Business and Home Safety, “an estimated 25 percent of businesses do not reopen after a major disaster” (Disaster Planning,

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