When disaster strikes

first_img 14SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,Ken Agle Ken Agle, President of AdvisX, brings more than 25 years of experience covering almost all facets of financial institution risk management operations. He has conducted more than 350 compliance reviews … Web: www.affirmx.com Details If disaster struck your community right now, would your institution be ready? While no one wants to see the circumstances that would cause an institution to have to activate its business continuity and disaster recovery plan, the last time you would want to find out that yours is inadequate or hopelessly outdated is in an actual emergency.For larger disasters, a financial institution’s ability to withstand the calamity and recover its ability to conduct operations quickly can be crucial to the larger community’s efforts to get back on its feet and to ensure continued confidence in the banking system. But just having a disaster recovery plan on the shelf isn’t enough.In a recent episode of Risk Watch, we reviewed three key characteristics we’ve observed of a strong business continuity and disaster recovery program. They were: 1) testing, 2) customization, and 3) formalized system of notification. We’d like to analyze that first characteristic—testing—a little deeper.BUSINESS IMPACT ANALYSISTesting begins with a business impact analysis. This kind of analysis focuses on how disasters would affect your departments, overall business operations, membership or customer base, reputation, revenue, and so forth. It is important to know the unique circumstances that affect how much disaster affect your institution.The main goal of the business impact analysis is to determine the basic recovery requirements of critical department activities. Critical activities may be defined as primary business functions that must continue in order to support various departments within your organization.For the BIA, you will need to identify:Critical business activities that occur in your department.What the impact to your department would be in the event of a disruption of each activity.How long your department could survive without performing this activity.For that last one, you’d assign recovery time objectives (RTO) to each function. The RTO is the time from which a crisis/disaster is declared to the time that the critical business function must be fully operational in order to avoid serious financial loss or other meaningful risks.TABLETOP TESTINGAfter preparing the BIA, it is vital to periodically subject your business continuity plan to tabletop testing, where key members of each department come together and talk through potential disaster scenarios and how the institution would respond. This process of “role playing” through a disaster allows your financial institution to see how well your personnel, systems, and variables perform on a hypothetical level so that any needed changes can be made well before any actual disasters strike. This testing should accomplish four goals:Determine the feasibility of contingency plans and procedures.Identify areas in the plan that may require modification.Provide training opportunities for BCP committee team members and financial institution employees.Evaluate the impact of the disaster on critical functions identified in the business impact analysis (BIA) and whether there is a “domino” affect related to those functions. You may find that departmental functions have inherent dependencies to complete crucial functions and these are frequently identified during tabletop exercises when incorporating the BIA.During your tabletop testing, youwould want to includescenariosthatare likely to happen in your area. Youmayalsowishtouseone or more different scenarios over the course ofseveralteststohelpensurethatyourBCPiswell-roundedandappropriateformanykindsofpotentialdisasters. It’s important to include natural disasters—earthquakes, hurricanes, floods, fires, etc.—as well as man-made disasters, like riots, viruses, and data breaches.Because tabletop exercises and business impact analyses involve so many departments, many institutions ask for third-party assistance in orchestrating the effort leading up to it, conducting the exercise itself (including the selection of scenarios), and preparing the summary report and accompanying recommendations.By thoroughly analyzing the impact of disasters on your institution and thoroughly testing your disaster recovery/business continuity plan, you’ll be well on your way to being ready when disaster strikes.For more information on AffirmX’s business continuity and disaster recovery plan services, including its tabletop exercises assistance, please visit AffirmX.com/disaster.last_img read more

Treviso punish Munster mistakes

first_img Ludovico Nitoglia had two tries while Mat Berquist kept the points flowing from his boot as Munster missed out on the chance to become the first side ever to begin a league season with maximum points from their opening three games. Keith Earls and Stephen Archer both crossed Munster, but ill discipline cost them as Berquist amassed 19 points, scoring five penalties, while three different Munster players endured spells in the sin bin. Press Association Things began well for Munster as they bossed the opening stages with Earls opening the scoring with a seventh-minute try. But Ian Keatley, having already missed a penalty, was off target with the conversion, and two Berquist penalties soon saw the momentum swing the other way. Munster regained the lead with a penalty try when Treviso’s scrum collapsed after a gutsy call from captain Peter O’Mahony, Keatley finding his aim this time to make it 12-6. Another Berquist penalty cut the deficit before half-time but when Archer crossed early in the second half, Keatley’s conversion pushed Munster’s advantage into double figures and all looked well for the Irish. That feeling lasted only a couple of minutes before Nitoglia notched his first try, and Berquist’s penalty on the hour mark had the teams tied once more. Nitoglia then dove over from close range for his second score and Berquist sealed it with Munster again down in numbers as Cathal Sheridan took his turn in the sin bin. ends center_img Munster were knocked off the top of the RaboDirect PRO12 table as they were upset 29-19 by Benetton Treviso in Italy.last_img read more

Herbert Mensah retains post as Ghana Rugby President

first_imgAstute sports administrator Herbert Mensah has retained his position as President of the Ghana Rugby Football Union. The GRFU inaugurated a new board and officers in Accra on Monday 25th September 2017 following the adoption of a new Constitution on 17 July 2017 at its annual general meeting held in Accra-Ghana.The new constitution was adopted to bring the governance structures of the GRFU in line with best practice governance whereby the role of the board as strategic management organ is divorced from the operational administration of the Union.Mr Herbert Mensah, a former chairman of Asante Kotoko, was elected uncontended as President of the GRFU and was also elected as a Board Member. The newly elected Board subsequently appointed him as Chairman.The other nominated board members who were elected include Mr Abdul-Aziz Issah, Mr Bismark Amponsah, Mr James Nunoo Mensah, Mr Kobina Nyarko, Mr Rian Malan (South Africa) and Mr Steve Noi.In addition, Ghana Rugby Union Players Association (GRUPA) representative, Mr Michael Ako Wilson, was also elected uncontended to the newly formed board. The board, at a special meeting after the elections, appointed Ms Rafatu Inusah to the Board as Women’s Representative.The election of the Officers and board was overseen by a board representative of Rugby Afrique, Mr Marcellin Zahui, as well as by the National Sports Authority of Ghana.Also present at the occasion was a film crew from World Rugby, who landed in Accra on Sunday night to compile features on Ghana Rugby for World Rugby TV.The GRFU constitution also provides for the appointment of four independent Directors. The newly elected board will be responsible for identifying suitable candidates and for inviting them to apply for the positions.According to Mr Herbert Mensah, now President and Chairman of the GRFU, the change in governance comes at a time when Ghana Rugby has managed to obtain Full Membership of World Rugby in an unprecedented time of fewer than three years since his previous administration took over the reins on 5 June 2014. “The challenges Ghana Rugby are facing have changed dramatically since becoming full members of World Rugby as that has opened the doors for Ghana Rugby to enter the global stage of the Game. To meet these enormous challenges investments will be required regarding increasing the performance levels of our national teams,” Mensah said.Mensah continued to say that the future of Ghana Rugby is still very much dependent on rolling out the grassroots youth development plans nationally, but that the need for increased participation in international match opportunities for the national teams will add enormous new pressure on the GRFU.According to Mensah, “The new Ghana Rugby Board will have to guide the Union strategically to ensure the necessary resourcing while putting solid operational structures in place. Running a national federation is not dissimilar to running any big corporate body, and the Board will have its work cut out for them and for the operational units that they will put in place.”The newly elected Ghana Rugby Board, from left to right: Mr Bismark Amponsah, Mr Kobina Nyarko, Mr Abdul-Aziz Issah, Mr Herbert Mensah (President and Board Chairman), Mr James Nunoo Mensah, Mr Michael Ako Wilson (GRUPA Representative). Absent: Ms Rafatu Inusah (Women’s Representative), Mr Rian Malan (South Africa) and Mr Steve Noi.last_img read more