TOPIC: Disaster Recovery

Trouble funding Coinbase/Bitcoin

VP at a bank ($65MUSA)
So we recently set up a Coinbase wallet as a part of our incident response planning.  Once the wallet has US Dollars in it we should be able to use it to buy Bitcoin in the event we ever had to.

We went to send a test funding wire to it for a small dollar amount and we are having the darndest time getting it sent in a format that works for them to credit it to our wallet.  It's the strangest thing.  We're directly online with the fed so we're not going through a correspondent bank.  Yet every time we send it (based on their instructions) they bounce it back to us saying they can't match it to our wallet.  They suggested hooking it to a DDA via ACH, but I really don't want to do that.

Does anyone else have experience sending funding wires to CoinBase and have any pointers to share?  It's amazing that I can't even get $50.00 into the wallet.  Imagine if it was an actual problem event where we had to send someone Bitcoin and we couldn't even get our US Dollars where they needed to be to buy the bitcoin.

Feel free to respond directly offlist if that works better for you.  dberes@myfirstcitybank.com

    Disaster Recovery

    Person at a bank ($269MUSA)

    Good morning! We are needing to update our DR policy and are wondering if anyone would mind sharing theirs. We have the IT side updated, and are looking more for operations, facilities, etc.

    Thanks!

      Last Chance to Register! Lessons Learned: What a First-Hand Account of 9/11 Can Teach Us About Business Continuity Planning

      Don't forget - you are invited to our July webinar discussing the impact of BCP on 9/11. Register for free today! If you are not able to make it to the live event, the recording will be available for download afterwards.

      On September 11, 2001, Lt. Col. Darling worked for the White House Military Office, Airlift Operations Department. It was in this position that he supported the President, Vice President and National Security Advisor in the underground President’s Emergency Operations Center and witnessed unprecedented leadership and decision-making at the highest levels of our government. With this life-changing attack on our nation, Lt. Col. Darling saw first-hand how imperative it is to have proper planning in place in the event of a disaster.

      This special joint webinar will showcase the compelling parallels in planning for and executing on business continuity planning and disaster recovery while Darling shares his story. Key takeaways include:

      • The role of leadership in a crisis – and how to adapt when the leader is absent
      • Determining how much training/planning is enough
      • Best practices for crisis decision making
      • Understanding the difference between business continuity planning and disaster recovery – and putting plans for both in place

      Register Today

        Free July Webinar - Lessons Learned: What a First-Hand Account of 9/11 Can Teach Us About Business Continuity Planning

        Join us for our July webinar! Lt. Col. Darling discusses critical lessons learned on 9/11 and what they teach us about BCP - whether we are leading a bank or the United States of America. Register for free today! If you are not able to make it to the live event, we will send you the recording afterwards.

        LESSONS LEARNED: What a First-Hand Account of 9/11 Can Teach Us About Business Continuity Planning

        On September 11, 2001, Lt. Col. Darling worked for the White House Military Office, Airlift Operations Department. It was in this position that he supported the President, Vice President and National Security Advisor in the underground President’s Emergency Operations Center and witnessed unprecedented leadership and decision-making at the highest levels of our government. With this life-changing attack on our nation, Lt. Col. Darling saw first-hand how imperative it is to have proper planning in place in the event of a disaster.

        This special joint webinar will showcase the compelling parallels in planning for and executing on business continuity planning and disaster recovery while Darling shares his story. Key takeaways include:

        • The role of leadership in a crisis – and how to adapt when the leader is absent
        • Determining how much training/planning is enough
        • Best practices for crisis decision making
        • Understanding the difference between business continuity planning and disaster recovery – and putting plans for both in place

          Is Your Vendor Prepared for Disaster?

          Good morning, bankers. Today, we're discussing Business Continuity Planning! This post is the first in a series originally published on the Ncontracts blog.

          Is Your Vendor Prepared for Disaster?

          The only thing worse than having a critical system go down is having a critical system go down and having no idea when and in what condition it will come back up.

          Many pages of regulatory guidance have been written to guard against this situation, yet a recent analysis conducted by the FDIC's Office of Inspector General finds that just half of vendor contracts it reviewed "explicitly included business continuity provisions."

          READ THE FULL ARTICLE: Download the attached PDF

            Reminder! Free February Webinar - Cyber and the C-Suite: What Top Management Needs to Know About Cybersecurity

            Don't forget! You're invited to our free February webinar on responding to cybersecurity breaches and disaster recovery. If you're not able to make it to the live event, we will send you the recording afterwards. Register today!

            The number of financial institution U.S. data breach incidents tracked in 2017 hit a new record high of 1,579 breaches, according to the 2017 Data Breach Year-End Review released by the Identity Theft Resource Center® (ITRC) and CyberScout®. The Review indicates a drastic upturn of 44.7 percent increase over the record high figures reported for 2016.

            What would one breach do to your financial institution? How would your senior management team respond?

            Breaches can be highly preventable, provided you’ve assessed the risks and set forth the proper safeguards. This workshop/webinar will address the following areas to hold your executives and board members responsible for cybersecurity and disaster recovery resiliency. Takeaways include:

            • The importance of managing third party vendors, your financial institution’s single largest vulnerability to cyber risk
            • Why you should familiarize yourself with the FFIEC Cybersecurity Assessment Tool and the 2017 updates to the guidance
            • The key role of risk management as an effective preventative tool
            • Best practices for you to manage vendor due diligence rules and contract management
            • How to work with your regulatory agency both during and between your exam cycles

            The operational, financial and reputation risk costs are staggering, making attendance for your financial institution’s C-suite essential.

            Register Today

              Are cloud-based backup solutions viable in banking?

              Manager at a bank ($446MUSA)

              Hi everyone,
              Has anyone noted regulator comments (positive or negative) on the use of cloud-based backup solutions? I would also asked whether anyone is reliant on cloud-based backup solutions as a key component of their business continuity and disaster recovery plans?

              I can assure you this is not a solicitation or endorsement for cloud-based backup. I am simply seeking to understand the acceptance for the use of this technology by the banking industry and its regulators.
              Thanks in advance for your comments.
              J.Adams

                Free February Webinar - Cyber and the C-Suite: What Top Management Needs to Know About Cybersecurity

                Hello bankers! You're invited to our February webinar on responding to cybersecurity breaches and disaster recovery. Register for free and if you're not able to make it to the live event, we will send you the recording afterwards.

                The number of financial institution U.S. data breach incidents tracked in 2017 hit a new record high of 1,579 breaches, according to the 2017 Data Breach Year-End Review released by the Identity Theft Resource Center® (ITRC) and CyberScout®. The Review indicates a drastic upturn of 44.7 percent increase over the record high figures reported for 2016.

                What would one breach do to your financial institution? How would your senior management team respond?

                Breaches can be highly preventable, provided you’ve assessed the risks and set forth the proper safeguards. This workshop/webinar will address the following areas to hold your executives and board members responsible for cybersecurity and disaster recovery resiliency. Takeaways include:

                • The importance of managing third party vendors, your financial institution’s single largest vulnerability to cyber risk
                • Why you should familiarize yourself with the FFIEC Cybersecurity Assessment Tool and the 2017 updates to the guidance
                • The key role of risk management as an effective preventative tool
                • Best practices for you to manage vendor due diligence rules and contract management
                • How to work with your regulatory agency both during and between your exam cycles

                The operational, financial and reputation risk costs are staggering, making attendance for your financial institution’s C-suite essential.

                Register Today