How long can you afford to be down? Organizations often struggle with assessing the financial and other business risks associated with a service disruption.
We can help you identify and quantify your business risks so that you can make more informed decisions regarding business continuity. Required by financial institution regulators, the Business Impact Analysis (BIA) can also help your organization set acceptable recovery objectives.
Financial Risk is also an important element in the BIA. Ongoing Operations' Financial Impact Analysis (FIA) model is based on your credit union’s 5300 Call Report data. This "bottom line" tool can help you identify Recovery Time Objectives (RTOs) and Recovery Point Objectives (RPOs) for critical processes & supporting resources. Facilities needs and staffing needs are also identified as we evaluate your credit union's top risks and begin developing strategies to mitigate them.
Ongoing Operations’ Business Impact Analysis identifies:
- Critical business activities and the impact of an extended business interruption
- Critical information, systems, facilities and communications resources
- The most efficient structure and scope of effort for the plan - Worst case financial risk scenario
BIAs should be refreshed as your business expands and new systems are added. We recommend conducting a new BIA at least once every 3 years or whenever you have a significant product or service expansion.
Contact us at sales@ongoingoperations.com today to learn more about our Business Impact Analysis or click here for the Printable PDF with more details on our BIA Plus package.