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