OCC / Fed / FDIC Sound Practices scenario testing with simulations
The 2020 interagency paper from the OCC, Federal Reserve and FDIC sets out sound practices for large US banks to strengthen operational resilience, including identifying critical operations, setting tolerance for disruption and testing the ability to deliver through severe-but-plausible events.
iluminr simulations let teams rehearse the decisions OCC / Fed / FDIC Sound Practices cares about against severe-but-plausible scenarios, and keep a record of who decided what, and when. Run them as Microsimulations, full-scale simulations, or facilitated by our team of experts.
Simulations mapped to OCC / Fed / FDIC Sound Practices
Mapping is indicative. Confirm scope against your own obligations.
Frequently asked questions
What is OCC / Fed / FDIC Sound Practices?
The 2020 interagency paper from the OCC, Federal Reserve and FDIC sets out sound practices for large US banks to strengthen operational resilience, including identifying critical operations, setting tolerance for disruption and testing the ability to deliver through severe-but-plausible events.
How do simulations help with OCC / Fed / FDIC Sound Practices?
Simulations let teams rehearse the decisions OCC / Fed / FDIC Sound Practices cares about against severe-but-plausible scenarios. iluminr keeps a record of who decided what, and when, which you can use as evidence of testing.
Which iluminr simulations map to OCC / Fed / FDIC Sound Practices?
Simulations mapped to OCC / Fed / FDIC Sound Practices include A Dark Day: Bomb Threat, Access Denied: Building Fire, Claims Surge: Severe Weather, Connectivity Down: Severe Weather, Core Platform Outage: Rollback and Crisis Mode: Natural Disaster, among others.
Who should take part?
These simulations are most often run with Executive & Board, Operations, People & HR and Crisis Management.
Can I build a 12-month OCC / Fed / FDIC Sound Practices testing program?
Yes. The iluminr program builder suggests a 12-month plan of simulations for OCC / Fed / FDIC Sound Practices. You can add or remove scenarios and export the plan as a PDF for your board.
Can we customize these simulations?
Yes. Run any template as is, tailor the roles, plans, critical services and injects to your organization, or build your own from scratch with the iluminr builder.
Is this mapping legal or compliance advice?
No. The mapping between simulations and OCC / Fed / FDIC Sound Practices is indicative. Confirm scope against your own obligations.
