Service disruptions can happen at any time and could derail day-to-day operations. Is your institution prepared? By keeping your business continuity plan up to date, you can stay ahead of these unexpected issues and protect your organization. Below are some tips from Federal Reserve Financial Services.
Review and annually update your contact information with the Federal Reserve Banks
Each year, your organization should review its Official Authorization List (OAL), FedLine® End User Authorization Contacts (EUACs) and FedLine Subscribers to ensure the information is accurate.
Host regular staff training sessions
Make sure employees are prepared for potential service disruptions by hosting regularly scheduled training sessions on service issues that could affect the day-to-day operations of your institution’s critical infrastructure, such as power or network connectivity interruptions. By conducting regularly scheduled training, your staff will be ready to act if and when critical situations arise.
Bookmark and regularly check the Service Status page
A service disruption can happen at any time. By bookmarking the Service Status page, your institution can easily find information on the operational status of services provided by the Federal Reserve.
Stay up to date with the latest resources
Check out our Business Continuity Resource Center for additional information to help your institution prepare for potential service disruptions and other issues. These resources include guides for each service the Federal Reserve provides to financial institutions.
For more contingency tips, watch our video: “Are you ready? Business continuity tips from relationship managers.”
