We’re going to walk through the essentials of backup policies and recovery methods, especially designed for financial entities. By the end of this lesson, you’ll be able to understand why these policies are more than just a checkbox on a compliance form—they’re critical for your business survival.

What Will You Learn?

  • Scope and Frequency of Backups
  • Recovery Methods
  • Importance of Redundant Systems and Secondary Processing Sites
  • Setting Recovery Time and Point Objectives
  • Ensuring Data Integrity During Recovery

Ready? Let’s jump right in!


Part 1: Backup Policy Essentials

Scope and Frequency

Have you ever thought about what kinds of data are crucial for your organization? Well, the scope and frequency of your backups largely depend on two key aspects—data criticality and data sensitivity.

  • Question: Can you name some data sets that you consider ‘critical’ for your financial entity?

Part 2: Recovery Methods

Immediate but Secure Recovery

Imagine your system crashes; how quickly should your backup system spring into action? Immediate action is crucial but it should never compromise your data’s security.

  • Question: What steps would you take to ensure immediate yet secure recovery?

Part 3: Redundant Systems and Secondary Processing Sites

Geographical Consideration and Resource Allocation

You don’t put all your eggs in one basket, do you? So, why risk all your data by storing it in one location?

  • Question: How would you determine the ‘right’ geographical distance between the primary and secondary sites?

Part 4: When Disaster Strikes

Time and Point Objectives

Imagine the worst-case scenario—a major system failure during peak trading hours. The clock is ticking! What are your time objectives to recover the system?

  • Question: Have you calculated the overall market impact if your service remains down for an hour?

Ensuring Data Integrity

Once you restore your systems, how do you know the data is accurate and intact?

  • Question: What checks would you perform to ensure the highest level of data integrity?

Wrapping Up

Backup and recovery aren’t just about compliance. They’re part of a comprehensive risk management strategy essential for the survival and resilience of financial entities. Always remember, it’s not just about protecting your data; it’s about safeguarding your business.

Thank you for joining today’s lesson. Looking forward to seeing you in the next one!

Stay resilient and keep learning!