Internal and External Components

A BCP consists of many components that are both internal and external to a financial institution. An effective BCP coordinates across its many components, identifies potential process or system dependencies, and mitigates the risks from interdependencies.Refer to Appendix C: "Internal and External Threats"; Appendix E: "Interdependencies"; and Appendix G: "Business Continuity Plan Components" for additional information. The activation of a continuity plan and restoration of business in the event of an emergency depends on the successful interaction of these various components. The overall strength and effectiveness of a BCP can be decreased by its weakest component. Internal components that should be addressed in the BCP to ensure adequate recovery of business operations may include interdependencies between various departments, business functions, and personnel within the institution. These interdependencies can also include single points of failure with internal telecommunications and computer systems. External components that can negatively affect the timely recovery of business operations and that should be addressed in the BCP may include interdependencies with telecommunications providers, service providers, customers, business partners, and suppliers.

 

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