The Federal Financial Institutions Examination Council (FFIEC) has issued guidance to help financial institutions (Fis) ensure their technology service providers (TSPs) have business-continuity procedures in place so that outsourced operations are secure and recoverable. The guidance, known as "Appendix J: Strengthening the Resilience of Outsourced Technology Services;· highlights the following four elements:
Because there has been an increased concentration of use of TSPs by multiple Fis or by multiple businesses within an Fl, Fis should evaluate how a TSP's plans, from an infrastructure and resource perspective, account for a widespread disruption or outage.
Related service