Financial Sector Resilience and Public- Private...
Transcript of Financial Sector Resilience and Public- Private...
Financial Sector Resilience and Public-Private Partnerships Collaboration
Presented by Bennie MooreAVP, BCS Risk Mitigation
February 10, 2016
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Discussion Topics
Provide insight about public-private partnerships and the Federal Reserve:
• Mission and Strategies
• Partnership Methods Utilized
• Partner Interdependencies
• Event Cases
• Planning Resources
Who We Are
As part of the nation’s central bank, we’re committed to strengthening the economy and our communities.
What We Do
• We’re working to ensure a stable and sound economy.
• We’re dedicated to serving the American public and the Fifth District.
• We’re helping make our communities a better place to live.
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Federal Reserve Bank of Richmond
Federal Reserve System
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Mission and Strategies
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“Provide stability to the United States monetary and financial systems”
To fulfill its mission, the Federal Reserve uses these strategies:
• Recognizing the importance of interdependencies and established partnerships
• Planning collectively to counteract dilemmas that may affect already strained financial sector components
• Implementing highly resilient critical services
• Maintaining formalized System and District crisis management and business continuity programs
Method Utilized to Maintain Resilience
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• Identify partner organizations, including governmental entities at multiple levels, customers, service providers and vendors
• Foster and build upon partnerships to better understand each others interdependencies
• Recognize and find solutions to address known and unknown interdependencies
• Establish effective communication channels during events
• Include partner organizations in plan development and exercises
Critical Infrastructure Interdependencies
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Banking and Finance
Transportation
Water
Information Technology
Energy
Public Health, HealthcareEmergency Services
Communications
Established Partnerships
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National
• Treasury
• Financial Regulatory Agencies
• Law Enforcement
• Homeland Security
• Financial Services Information Sharing Awareness Center (ISAC)
• National Weather Service
• Critical Key Vendors
• Health and Human Services
• Center for Disease Control
• Center for Infectious Disease Research and Policy (CDRAP)
State
• Law Enforcement
• Department of Health
• “1st” Organizations
• Department of Emergency Management
• Virginia
• North Carolina
• Maryland
Local
• Law Enforcement
• Emergency Services
• Emergency Management
• Customers
• Health Department
• Continuity Groups
• Utility Service Providers
• Critical Key Vendors
• Corporate Neighbors
Event Cases
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Hurricane IrenePartnered with:
• Virginia Department of Emergency Management• Virginia 1st
• Financial Recovery Coalition of North Carolina (FRCNC)• Financial Services Information Sharing Analysis Center (FS-ISAC)• Other Reserve Banks• Service Providers
Union Cyclist International (UCI) Bike RacesPartnered with:
• Richmond Department of Emergency Management• Richmond Police Department• Department of Homeland Security• Event organizers• Armored Carriers• Customers
Tools and Techniques
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Lessons Learned from EventsDepartment of Emergency Management
• Information Distribution Lists• Established Point of Contact
Information Sharing Analysis Centers (ISACs)• Information Resource (Distribution List and Portal)• Conferences
“1st” Organizations• Information Sharing • Customer Organization Contacts
Department of Homeland Security• HISN – Information Resource• HSEEP – Training Resource
Local Department of Emergency Management• Information Resource• Established Points of Contact
Challenges
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• Identifying organizations to establish new partnerships with based on dynamic changes in threat environment
• Establishing and maintaining organizational contacts
• Managing and triage of information received
• Conducting joint planning exercises
Summary
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• The Federal Reserve recognizes the critical importance of partnerships to maintain ongoing organizational resiliency and effective business continuity
• Partnerships provide mutual benefits for the Federal Reserve and other organizations
• Lessons learned from actual events identified new partnership areas that continue to evolve our response approaches
• Partnerships will increase and become more integrated in ongoing business operations
Resources
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Personal Planning
Disasters and Financial Planning: A Guide for Preparedness https://www.aicpa.org/interestareas/personalfinancialplanning/resources/consumercontent/disasterfinancialissues/downloadabledocuments/preparedness.pdf
Financial Readiness: As Critical as Fully Charged Batterieshttp://www.consumer.ftc.gov/articles/0126-financial-readiness-critical-fully-charged-batteries
Federal Reserve
Federal Reserve Systemhttp://federalreserve.gov
Federal Reserve Bank of Richmondhttp://www.richmondfed.org
Presented by Bennie MooreAVP, BCS Risk Mitigation
February 10, 2016
Financial Sector Resilience and Public-Private Partnerships Collaboration