Control and Management of Disasters (3)
May 21, 2009 – 5:56 amDisaster Recovery
Prior to the events of September 11, 2001, disaster recovery concerns focused on whether banks had a dedicated disaster recovery or contingency planning manager; a comprehensive plan listing precise steps in the event of a disaster; adequate technology support; automatic hardware, software, and telecommunications switching; and power backup, including dual power feeds and auxiliary power systems. Although those actions are still relevant, other considerations should be included in catastrophe planning, including actions by both the bank and the company.
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Prevention. Do the bank and the company have adequate physical security including detection and protection systems? Are there established procedures for control and access? Is regular data back-up required for all systems and data files, and are the media archived to a secure off-site location?
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Evaluation and mobilization. In a disaster recovery incident, who are the company and bank managers? Is there a specific plan for critical functions, such as hardware, software, technical support, and communications? What expectations are there for resumption of processing and restoration of the primary site? Is there a regular testing program of established procedures? Has the bank experienced an actual disaster? If so, what was the result? What steps has it taken to remedy any deficiencies in the plan?
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Back-up site recovery. Are the back-up sites sufficiently distant as to be unaffected by the disaster? Have arrangements been made with a third-party disaster recovery vendor, such as Comdisco or IBM?
Your bank will not share specific plans and procedures with its corporate customers; nevertheless, you should feel satisfied that the bank and your company is totally prepared for just about any attack or natural calamity that may occur.
Taken From : Essentials of Managing Corporate Cash
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