2 min read
5 Signs Your CU’s BCP is Outdated and Exposing You to Risk
The following is an article written by Optiri's Director, Business Continuity Management, Tim Daugherty. It originally...
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Business Continuity Management (BCM) for Credit Unions
Minimize Downtime, Safeguard Member Trust and Build Resiliency Benefit
Optiri BCM ensures that credit unions can recover quickly from operational disruption, averting prolonged downtime and maintaining operational continuity and resiliency. Develop a program to help mitigate risks, assist during small or large business disruptions and disasters and meet regulatory requirements.
- You will be assigned a dedicated certified Business Continuity Professional to guide you through the process.
- No matter if you need assistance starting from square one or need help with regulatory compliance, our Business Continuity Certified Professional staff will assist your credit union with all your needs.
- Our cloud-based portal, CU Recover and Crisis Management Notification System are included in the Business Continuity as a Service and Business Continuity Standard solutions.
Business Continuity as a Service (BCaaS)
Complete Continuity Management – We Serve as Your BC Administrator
End-to-end business continuity planning and support delivered by a certified professional – customized, compliant and always ready.
- Get a dedicated certified expert who manages, maintains and updates your continuity plan year-round.
- Ensure compliance with NCUA, FFIEC and state regulations without burdening internal resources.
- Receive hands-on support during disruptions to protect operations and member confidence.
Business Continuity Standard
Customized Planning with Built-In Compliance and Testing
Professional support for building, testing and maintaining a reliable continuity plan that meets regulatory demands and protects members.
- Custom-built plans developed and reviewed by a certified continuity professional.
- Periodic testing and guidance ensure your plan stays actionable and audit-ready.
- Strengthens operational readiness and reinforces trust with regulators and members alike.
Business Impact Analysis
Identify What Matters Most and Plan Accordingly
Pinpoint your credit union’s most critical operations to prioritize recovery efforts and minimize disruption impact.
- Identify essential functions and the impact of their potential downtime.
- Guide recovery strategies with data-driven prioritization and risk insights.
- Improve operational resilience while meeting regulatory planning requirements.
Threat Assessment
Proactively Uncover and Prioritize Risks
Stay ahead of risks with expert evaluation of internal and external threats to your credit union’s operations.
- Gain visibility into vulnerabilities across people, processes and technology.
- Prioritize mitigation strategies based on credible threat data and likelihood.
- Strengthen preparedness and build a solid foundation for your continuity program.
Financial Impact Analysis
Quantify the Financial Risk Behind Operational Threats
Quantify the real financial risk of disruptions using your own 5300 Call Report data for targeted, executive-level decision making.
- Identify the top 10 threats with the greatest potential financial impact.
- Tie operational risk directly to balance sheet exposure and strategic goals.
- Equip leadership with actionable data to support risk-based planning decisions.
Crisis Management Team Plan Development and Testing
Build and Validate Executive-Level Crisis Readiness
Develop and validate your Crisis Management Team’s ability to lead effectively under pressure and protect your credit union’s future.
- Create a tailored crisis response plan with clearly defined roles and escalation paths.
- Conduct facilitated exercises to test decision-making and response readiness.
- Build confidence in your team’s ability to manage real-time disruptions.
Department Team plan development and testing
Empower Departments to Stay Operational Through Disruption
Empower departments with their own continuity strategies that integrate into your broader organizational resilience plan.
- Guide each department through plan creation for critical processes and resources.
- Align team plans with your enterprise-level business continuity strategy.
- Perform scenario-based testing to ensure frontline teams are prepared and responsive.
Communications Planning
Ensure Clear, Timely Messaging During Any Crisis
Ensure your credit union communicates clearly, consistently and confidently with members and stakeholders during any crisis.
- Create actionable communication protocols for internal and external audiences.
- Ensure outreach through all key platforms.
- Maintain trust and transparency with timely, accurate and aligned messaging.
Program Assessment
Evaluate and Strengthen Your Continuity Program
Evaluate and enhance your current continuity program to uncover gaps, reduce risk and strengthen compliance.
- Review existing plans and policies against regulatory standards and industry best practices.
- Receive a detailed gap analysis with prioritized recommendations for improvement.
- Build a roadmap for a stronger, more resilient business continuity program.
Business Continuity Plan Exercising
Test, Refine and Validate Your Continuity Plans
Validate your credit union’s readiness with realistic plan exercises that identify gaps, strengthen team response and satisfy examiners.
- Conduct customized tabletop or functional exercises tailored to your plan, teams and risk profile.
- Test leadership decision-making, internal coordination and vendor response capabilities.
- Receive post-exercise analysis with actionable recommendations to improve plan performance and compliance.
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