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Is your company prepared for a disaster?

When was the last time you addressed Continuity of Operations (COOP), and your disaster plans?

If you have such plans, when was the last time you tested them?

What would have happened if your business was located in Paris and some of your key employees were in Bataclan theatre?

This is a topic that needs to be discussed!

Answers

EMERSON GALFO
Title: CFO
Company: C-Suite Services
LinkedIn Profile
(CFO, C-Suite Services) |

For Banks, it is a regulatory requirement that (1) there is a policy/procedure (2) that said policy/procedures are communicated (3) There is a test / dry run (4) not only are internal players tested but also 3rd party providers have COOP plans and the institution have back up plans. BTW, as a side note, there are also "hold-up" scenarios that banks practice and play. Most of the time, Police agencies are involved in these scenarios.

These are yearly reviewed, "practiced" and documented for regulators' review.

I try (the operative word) to do this with all the companies/industries (well, not the hold up part) I get involved in.

Topic Expert
Wayne Spivak
Title: President & CFO
Company: SBAConsulting.com
LinkedIn Profile
(President & CFO, SBAConsulting.com) |

Unless there is a regulatory requirement (and how well they plan or test is questionable), I find that most companies stick there respective heads in the sand.

Let me be clear, backing up your data off-site is only a small part of a Disaster Plan and may not even touch a COOP plan.

Anonymous User
Title: CFO
Company: Local Government Agency
(CFO, Local Government Agency) |

For governmental agencies such as mine, it is also a regulatory requirement. Hurricane Katrina inspired new regs, federal, state and local and new inter-agency commitments to cooperation.

We train and practice regularly. With other agencies on a region wide basis.

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