You know how when you get into an airplane, the flight attendants tell you what to do in the event of a malfunction? It doesn’t matter how many times you’ve flown or how well you know the drill. Heck, it doesn’t even matter how unlikely a crash is.
You have to know how to protect yourself and others when something bad happens.
The same is true for credit unions. Except instead of plane crashes, you have to worry about any number of malfunctions, setbacks, security threats, and disasters.
That’s where credit union disaster recovery and business continuity planning come into play.
Understanding Disaster Recovery vs Business Continuity Planning
The truth is, disaster recovery and business continuity planning are very similar. They have many of the same goals, and the work based on the same information.
(Want to learn more about information you need to make a disaster recovery or business continuity plan? Follow that link!)
We’ve already written a little about the differences between business continuity planning and disaster recovery, so in this blog, we’ll keep it brief.
Business continuity planning is a proactive approach to ensuring that your people and your facilities can continue operating and serving even when things aren’t going right. This is the operational side of the house—keeping doors open, continuing to do business, and serving members is your priority here.
Disaster recovery plans are reactive approaches that you enact during catastrophic events that threaten your credit union. Disaster recovery is geared toward recovering systems, recovering networks, and making sure that your infrastructure operates as it’s supposed to.
How Often Should You Update Disaster Recovery and Business Continuity Plans?
How often do those flight attendants remind you how to be safe?
Similarly, your credit union should review and update its disaster recovery and business continuity plans regularly. You might want to check them monthly. Quarterly is a stretch. Additionally, you should update your plans whenever any of the following occur:
- You make material changes to any systems
- You change any business processes
- You change or add the people involved in any plans
It may seem like a lot of updating, adjusting, and tweaking, but it’s critically important. You don’t want to find out in the middle of an earthquake that you forgot to update your contacts list. You also wouldn’t want to learn that your disaster recovery plan was for a pre-conversion core in the middle of a hurricane!
Reviewing and updating plans is a quick and painless process. Failing to review and update can be a lengthy, disappointing, and potentially harmful venture.
Just do the right thing!
Ongoing Operations helps credit unions develop, test, and maintain business continuity plans. We’re more than happy to discuss your BCP questions or challenges. Simply fill out this short form and we’ll be in touch!
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