Exit Plan: Vendor Insolvency is a simulation from iluminr in the Third-Party & Technology category for Third-Party Risk, Operations and Risk. It tests how your team protects payments & customer account access, with indicative mapping to Interagency Third-Party Guidance, OCC / Fed / FDIC Sound Practices and FFIEC BCM Handbook.
A critical third-party vendor has filed for insolvency, causing both operational and data losses. Can your team execute the exit plan under pressure?
What it tests
- Assess the impact of loss of a critical vendor.
- Validate thresholds for data loss and service loss.
- Validate exit plan strategies / playbook for critical vendor.
How you can run it
Questions about Exit Plan: Vendor Insolvency
What does Exit Plan: Vendor Insolvency test?
Exit Plan: Vendor Insolvency tests whether your team can assess the impact of loss of a critical vendor, validate thresholds for data loss and service loss and validate exit plan strategies / playbook for critical vendor.
Who should take Exit Plan: Vendor Insolvency?
Exit Plan: Vendor Insolvency is designed for Third-Party Risk, Operations, Risk, Business Continuity, Technology & Security and Executive & Board.
Which regulations and standards does Exit Plan: Vendor Insolvency support?
Exit Plan: Vendor Insolvency supports testing expectations in Interagency Third-Party Guidance, OCC / Fed / FDIC Sound Practices, FFIEC BCM Handbook, EU DORA, UK PS21/3 Operational Resilience, APRA CPS 230, OSFI E-21, ISO 22301, Basel Principles for Operational Resilience, EBA Outsourcing Guidelines, EBA ICT & Security Risk Guidelines, OSFI B-13, SEC Regulation SCI, MAS BCM Guidelines, AU SOCI Act, ISO 22316, CPMI-IOSCO PFMI, ISO 22398 and NIST SP 800-84. Mapping is indicative, so confirm scope against your own obligations.
Can Exit Plan: Vendor Insolvency be run individually or as a team?
Both. Play it individually with feedback on every decision, or run it as a team in a shared event room.
Can we customize Exit Plan: Vendor Insolvency?
Yes. You can tailor the roles, plans, critical services, injects and objectives in the iluminr builder, or have our team customize it for you.
How do we get access to Exit Plan: Vendor Insolvency?
Select Request Microsimulation. We'll set up access for you or facilitate it with your team.
