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The #1 Forgotten Strategy In Most Financial Institution’s Business Continuity Programs

If you are like most organizations, you have adopted an all hazards approach to business continuity planning in an attempt to provide adequate response mechanisms for most known threats. And while this is absolutely a effective approach, what if you could add a strategy that would significantly improve your organizations resiliency efforts so you aren’t always reacting vs responding?

The #1 forgotten strategy in most plans is the development of your private-public relationships. We recognize this is hard to do with limited staff and a single voice. So how can you effectively develop your private-public partnerships? Simply by joining a regional level FIRST (Fostering Industry Resilience & Security Thru Teamwork) coalition! By joining your regional FIRST coalition (find yours here), you can take your business continuity planning to the next level!

REGIONAL FIRST COALITION BENEFITS

  • FIRST Access To Information During A Crisis – Your regional coalition leader’s role is to develop relationships with the public sector in your community/region. These are face-to-face meetings, workshops and events where the private-public relationship is grown through mutual trust. It is through this trusted relationship that the coalition often obtains:
    • inclusion in non-public steady state and crisis communications alert channels and/or mailing lists
    • bi-directional boots on the ground crisis communications
    • seat in physical or virtual Emergency Operations Center (EOC)
    • seat on planning committees for regional response strategies
  • Single Point of Contact – If you checked out our blog on “Drowning Out The Noise”  , communications during an event is often fast, furious and coming at you from every direction. By joining your regional coalition, you have a single channel to monitor. A channel that has often taken years to put in place through the trusted relationships described above. This channel allows you as a leader to execute mitigation actions faster and with more confidence knowing that you have an “in” with your local EOC. In a crisis, this could be the difference between lives saved or lost!
  • Peer Collaboration/Networking – We’ve all been there – stuck that is. Not really sure how to approach a problem or risk. We perform our vendor due diligence as we should yet just don’t have the confidence yet to sign on the dotted line. It would be great to have a few peers share their expertise, right? With a regional FIRST coalition, you’ll have peer collaboration tools/events that allow you to learn or share best practices, lessons learned, strategies, vendor reviews, mitigation approach, regulatory concerns, etc. Because of the time your coalition leader has spent building a membership base, it is possible to go from a handful of your own peers to literally hundreds depending on your region. As they say on TV – priceless!

For more information on how to join a regional coalition or start your own, reach out today by filling out our contact form!

 

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  • Being a member of the RPCfirst has strengthened and expanded our knowledgebase at ChicagoFIRST. Working with others who share similar goals saves time, money and during an incident may even save lives.
    Mike Carano, Executive Director
    ChicagoFIRST

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