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Preparing for the Worst: A Lesson in DR & BCP Strategies for Hedge Funds
 

Preparing for the Worst: A Lesson in DR & BCP Strategies for Hedge Funds

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Is your firm prepared for a disaster situation? Learn more about the steps to creating an effective business continuity plan and disaster recovery solution to keep your firm operational when a ...

Is your firm prepared for a disaster situation? Learn more about the steps to creating an effective business continuity plan and disaster recovery solution to keep your firm operational when a disaster strikes.

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    Preparing for the Worst: A Lesson in DR & BCP Strategies for Hedge Funds Preparing for the Worst: A Lesson in DR & BCP Strategies for Hedge Funds Presentation Transcript

    • Preparing for the Worst:A Lesson in DR & BCP Strategies for Hedge Funds
    • Agenda The difference between DR & BCP BCP: A look back at recent events Four steps to business continuity planning Disaster recovery misconceptions Steps to creating your unique DR solution
    • Disaster Recovery & Business Continuity Disaster Recovery Plan Business Continuity Plan• Details implementation/support • Identifies mission-critical of recovery infrastructure services, functions and personnel• Minimizes/mitigates effects of • Procedures for successfully outages/disasters recovering people, business functions and systems• Allows continuation/quick resumption of mission-critical • Employee information sessions, functions table top exercises and testing
    • Disaster Recovery vs. Business Continuity BC Policy Layer Policies & Strategies BCP Risk Management Management Business Continuity Layer Plans Validation & Testing IT Recovery ProcessesInfrastructure Layer Alternative Site DR Data Backup Offsite Replication Servers Storage Network
    • Business Continuity Planning
    • Past Events Japan Earthquake (2011)UK Olympics (2012) Hurricane Irene (2011) San Bruno Explosion (2010)
    • Step 1: PANIC
    • Four Steps to Business Continuity Planning 1. What are you protecting?  Develop Business Impact Analysis  Conducted for each functional area (Research, Trading, Finance, Operations, etc.).  Detailed information about each function’s business requirements during normal business operations vs. disaster.  Identifies critical steps subsequent to a disaster.A company’s ability to recover is directly related tothe preparations done prior to a disaster occurring.
    • Four Steps to Business Continuity Planning2. How are you going to protect? Determine Recovery Strategies  Scenario 1: Building is still standing but closed to tenants.  Scenario 2: Building has been damaged and/or lost power.  Scenario 3: Regional impact to the primary office location area. Establish Communication Procedures  Internally: Employees and employee families  Externally: Investors, prime brokers, custodians, media, vendors, etc.  Resources: Manual call trees, automated notification system, conference bridge, wallet cards, etc.
    • Four Steps to Business Continuity Planning3. Educate employees. Employee Information Sessions  Provide overview of the company’s business continuity and disaster recovery procedures.  Distribute employee recovery procedures, quick reference cards, wallet cards.  Agenda should be focused on employee responsibilities during a disaster. Table Top Exercise  Scenario based.  Informal brainstorming session.  Walk through of the company’s business continuity and disaster recovery procedures.
    • Four Steps to Business Continuity Planning4. Validation. Testing  Disaster recovery procedures and/or data center.  Alternate site.  Remote access (home).  Distribute test plans for participants.  Develop test summary.
    • Disaster Recovery Planning
    • Disaster Recovery Misconceptions DR system testing is unnecessary. DR documentation is not necessary to read until a disaster strikes. Third-party vendor communication is not a crucial aspect of DR. If you have a DR solution in place, you don’t need a BCP plan.
    • 1. Create the scope for disaster recovery. Identify your critical systems: File shares Email Mobile Devices Accounting Trading Voice
    • 2. Identify design requirements (RPO). Recovery Point Objective (RPO) – The RPO is the point in time to which you must recovery data as defined by your organization. – This is generally a definition of what an organization determines is an “acceptable loss” in a disaster situation. RPO = 24 hrs • Nightly backups RPO < 4 hrs • Snapshots RPO = 0 • Continuous replication
    • 3. Identify design requirements (RTO). Recovery Time Objective (RTO) – The RTO is the duration of time and a service level within which a business process must be restored after a disruption in order to avoid unacceptable consequences associated with a break in business continuity. – It includes the time for trying to fix the problem without a recovery, the recovery itself, tests and the communication to the users. RTO > 24 hrs • Restore from backups RTO < 4 hrs • Hot standby RTO = 1 hour • High availability
    • 4. Choose Your DR Method. Traditional Server DR DR in the Cloud Traditional DR DR in the Cloud Cost Hardware Lifecycle Ownership Power/Cooling Resource Allocation
    • 5. Choose a data center location/facility. Example of a Class 1 data center in Boston: – High security, fully redundant infrastructure: power feeds, fire and HVAC systems – N+1 infrastructure redundancy throughout – Multiple entry fiber paths – Power supply of up to 100 watts/sq. ft. in place – Multiple power grids for redundant power – Floor-load capacity of 150 lbs./sq. ft. – Line of site for rooftop antennas – 24-hour manned security, cameras and digital monitoring – Up to 24-day fuel supply on site – Unsurpassed diversity through our 30 network providers – 22 generators and 90,000 gallons of diesel fuel on site
    • Eze Castle Integration OverviewFounded 1995Headquarters 260 Franklin Street, 12th Floor, Boston, Massachusetts, 02110 Chicago, Dallas, Geneva, Hong Kong, London, Los Angeles, Minneapolis, New York City,Additional San Francisco, Singapore and StamfordOffices • Strategic IT Consulting • Private Cloud Services • Outsourced IT Solutions • Business Continuity Planning • Professional Services • Disaster RecoveryCore Services • Project & Technology Management • Compliance Solutions • Communications Solutions • Storage Solutions • Network Design & Management • Colocation Services • Internet Service • E-Mail & IM ArchivingAwards Received Learn more at www.eci.com.
    • 260 Franklin Street, 12th floor Boston, MA 02110 Tel: 617-217-3000 www.eci.com