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Business Continuity Planning (BCP)
Presented by:
Carol Noyes, ABCP
Silverman Olson Thorvilson & Kaufman
Marie E. Johnson, CBCP
Target Corporation
Steve Barenbaum, MP/BCP
USG, Inc.
Michael Stickney
US Bancorp
March 22, 2005
Business Continuity Planning (BCP) is about planning
ahead for an emergency and identifying a way to ensure critical
business processes are up and running within the desired tolerance
levels.
Why should I care about BCP? Because 94 percent
of businesses that suffer a large data loss go out of business within
two years.
Business continuity strategies must be designed
around your company’s critical processes. All businesses need
to plan for disasters, but the failure of telephones, transportation
systems or power may or may not be a debilitating loss for your
business. Your plan must be custom to your business.
In order for a business to develop and maintain
a Business Continuity Plan the following must occur.
- The plan must have executive sponsorship.
- Teams must be created and objectives/recovery
tolerances developed.
- The plan must extend beyond computer systems
recovery.
- Checklists, documented procedures and responsibilities
need to be created.
- The worst-case scenario should be considered.
- The plan needs to be consistently updated.
- The plan must be exercised.
There are four methods of exercising a plan: notification,
tabletop, functional and full-scale. Notification is verifying critical
employees phone numbers and should be done at least once a year.
A tabletop exercise is a walkthrough of the plan in a conference
room. The tabletop exercise should be conducted annually. The functional
exercise is a practice run where a scenario is provided and employees
physically go to the alternate site. Lastly, a full-scale exercise
is a real life execution of the plan. The full-scale exercise is
rarely conducted in practice. Your employees should have clear expectations
during a disaster. A solid plan is based on training, not a reference
book.
For more information on Business Continuity Planning,
visit the Federal Emergency Management Agency (FEMA) website at
www.fema.org
or the Disaster Recovery Institute International (DRII) website
at www.drii.org
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Wendy Degler called meeting to order at 4:30 pm
Attendees
Wendy Degler, Andy Benjamin, Seth Hilgert, John Stephani, John McGuire,
Leo Philben, Jason Golde. Guest: Bill Herzog
Secretary’s Report
Secretary’s report from the previous month’s meeting
was revised to reflect the motion not to renew the P.O. Box. Motion
passed unanimously. Minutes accepted with revision.
Treasurer’s Report
Andy provided the treasurer’s report. All bills paid. October
meeting averaged out to $30 per attendee. Report was accepted.
Membership
Seth informed the board of his decision to resign.
Education
Leo provided current working schedule. Lunch meeting earlier in
day was very well attended. There were 21 in attendance, including
3 past presidents. Those attending the lunch meeting cannot attend
evening functions and cited (1) topic, (2) location, and (3) meeting
time as the top three (in rank order) reasons for their attendance.
Other Business
Motion made by John McGuire and seconded by Jason to stop pursuing
the collection of the $125 deposit owed us by the owners of the
former Toby’s on the Lake. Motion passed.
With the several recent board resignations, we are
in need of new board members to make sure some of the more critical
items are handled. Two frequent meeting attendees were identified
and will be approached to determine their interest.
Leo discussed possibility of getting together an
outing in December to the Minnesota Swarm.
Bill Herzog gave an update on the recent national
board meeting he attended. At the board meeting Paul Sharman presented
a 5-point strategic plan for the national IMA. The strategic plan
calls for more focus on member service and retention, and on increasing
the recognition of the CMA.
Meeting adjourned at 5:30
Submitted by Leo Philben/John Stephani
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Wendy Degler called meeting to order at 4:40 pm
at the Double Tree Inn.
Attendees
Wendy Degler, Andy Benjamin, Seth Hilgert, John Stephani, Jason
Golde.
Secretary’s Report
Secretary’s report from the previous month’s meeting
was accepted.
Treasurer’s Report
Andy provided the treasurer’s report. August meeting bill
has been paid. We recognized a small profit on the August meeting.
September bill not yet paid, all other items up to date. Report
was accepted.
Administration Report
John S. reported that the chapter is in 65th place. Wendy reported
that the annual Treasurer’s audit has been completed. No issues.
Andy will fill out the report for national, and John will submit
by the Nov. 20th deadline.
Membership
Seth reported the chapter is currently down a net of two members.
Education
Leo handed out current schedule. Still missing the Minneapolis chapter
information. The Leadership Training Session (LTS) will be on the
topic of “Strategic Business Partner”. The lunch and
dinner topics in both February and May lead into a seminar. The
FEA award winner has been selected. The Minneapolis chapter will
schedule a presentation.
Communications
Wendy provided an update on the redesigned website. John to forward
the new Gleim order forms to be put on the web site. Donna will
no longer be doing the newsletter, as she is moving out of state.
Other Business
The September dinner meeting billing was discussed at length. It
was determined the hotel billed us correctly, and the problem was
too many no shows versus the count that was provided to the hotel.
If we can determine who the no shows were, we can determine how
the bill should be split between the two chapters.
No information has been received yet from Minneapolis
on their plans for a change in dinner meeting prices. Wendy suggests
we hold on a price increase until the February meeting. Board agreed.
Toby’s is now under new ownership, and is
now Donovan’s on the Lake. The new owners do not acknowledge
we have a $125 deposit which the previous owners requested for the
meeting room. Andy will collect all available supporting documentation
so we can determine what avenues we have to pursue collecting the
$125. Board agreed to table the issue until Andy has collected the
documentation.
A discussion was held regarding what chapter, if
any, can claim the student conference toward their annual electives
for the chapter competition. Jason and Leo will have this discussed
at the next regional council meeting.
Meeting adjourned at 5:30.
Submitted by John Stephani
The October IMA meeting hosted by the Minneapolis
chapter highlighted the topic of “401(k) Fiduciary Responsibilities".
The speakers introduced and reviewed the rules and guidelines of
proper fiduciary compliance. Some of the questions that were answered
during the presentation were:
- Who qualifies and does not qualify as
a fiduciary under ERISA?
A person is a fiduciary if they are named
such in the plan (specifically or in
title), or by performing fiduciary functions of the plan –
including having
control or authority over the plan. Fiduciaries are not attorneys,
accountants or consultants who are performing their usual professional
services.
- What are the responsibilities of a fiduciary?
Avoid conflicts of interest or self dealing,
act only in the interest of the Plan
participants and beneficiaries.
- What steps can you take to limit your
fiduciary responsibility?
Hire experts to conduct due diligence, allow
participants to make informed
decisions, provide sufficient diversification, allow participant
control over
investments and comply with 404(c).
- What you should know about recent changes
to fiduciary laws and
guidelines?
Violating ERISA can result in a loss of “qualified”
plan status, meaning no
pre-tax contributions and significant excise tax penalties and
Personal
Liability of up to $100K and 10 years imprisonment.
- What are the recent rules enacted?
The most significant changes are: Loans to executive officers/directors
of public
companies are prohibited and “Blackout Rules” requiring
30 day advance notice
if plan rights will be restricted for more than 3 business days.
More information can be found on the Department
of Labor website or by contacting the speakers at: sking@silveroakwealth.com
or angela.bohmann@leonard.com.
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The October IMA meeting hosted by the Minneapolis
chapter highlighted the topic of “401(k) Fiduciary Responsibilities".
The speakers were Shannon King, a partner with Silver Oak Wealth
Management and Angela Bohmann, an attorney with Leonard, Street
and Deinard. This presentation has importance for financial management
executives because a string of high-profile instances of fiduciaries
neglecting their responsibilities, particularly regarding retirement
plans, highlighting the need for increasing fiduciary awareness.
The speakers introduced and reviewed the rules and
guidelines of proper fiduciary compliance. Some of the questions
that were answered during the presentation were:
- Who qualifies and does not qualify as a fiduciary
under ERISA?
A person is a fiduciary if they are named such in the plan (specifically
or in title), or by performing fiduciary functions of the plan
– including having control or authority over the plan. Fiduciaries
are not attorneys, accountants or consultants who are performing
their usual professional services.
- What are the responsibilities of a fiduciary?
Avoid conflicts of interest or self dealing, act only in the interest
of the Plan participants and beneficiaries.
- What steps can you take to limit your fiduciary
responsibility?
Hire experts to conduct due diligence, allow participants to make
informed decisions, provide sufficient diversification, allow
participant control over investments and comply with 404(c).
- What you should know about recent changes to
fiduciary laws and guidelines?
Violating ERISA can result in a loss of “qualified”
plan status, meaning no pre-tax contributions and significant
excise tax penalties and Personal Liability of up to $100K and
10 years imprisonment.
- What are the recent rules enacted?
The most significant changes are: Loans to executive officers/directors
of public companies are prohibited and “Blackout Rules”
requiring 30 day advance notice if plan rights will be restricted
for more than 3 business days.
More information can be found on the Department
of Labor website or by contacting the speakers at: sking@silveroakwealth.com
or angela.bohmann@leonard.com.
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Wendy Degler called meeting to order at 5:30 pm
Attendees
Wendy Degler, Andy Benjamin, Dave Evenstar, Seth
Hilgert, Jim Seitz, John Stephani, Mike Wahowske.
Secretary’s Report
Secretary’s report from the previous month’s
meeting was accepted with one correction to change Fiscal Executive
of the year to Financial Executive of the year.
Treasurer’s Report
Andy provided the treasurer’s report. The
June report was corrected to reflect the May allowance payment
from national. July’s report is also up to date and reflects
the payments from national. Report was accepted.
Administration Report
John S. reported that the chapter is in 68th place.
Membership
Mike W. reported. As was communicated t the board
via e-mail, the chapter is down a net of 3 members from June 1.
Mike sent out a revised feedback for, and is working with Leo
to re-do for lunch meetings. Mike also informed the board he will
be stepping off the board due to work and family commitments.
The board recognized and thanked Mike for his hard work a contributions
to the board.
Education
No update
Communications
Wendy gave the communication update. Roster is
completed. Plan was to distribute via e-mail, but Dave reported
he is not doing that due to size of the file – probably
will not be allowed into many e-mail systems, and will clog those
it does pass to. Roster will be placed on the web site so members
can access. Dave will notify members via e-mail when site has
been updated. We will not distribute paper copies. Two sponsors
have been obtained for the web page. Wendy discussed the redesigned
site, and Mike and Dave offered some suggestions.
Past Presidents
Jim is sending out the letter to Past Presidents
inviting them to the annual recognition night, which this year
is at the November meeting. Chapter will pay for the meal of any
attending Past Presidents, but guests will be charged.
Other Business
As requested prior to the meeting by Leo, the
board discussed the cost for the dinner meetings. Given the level
of losses we have been incurring on dinner meetings, a motion
was made to charge $30/member advance reservation ($35 walk-up)
and $40 for non-members effective with the November meeting. Motion
passed, assuming Minneapolis also passes the same price change.
Submitted by John Stephani
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Wendy Degler called meeting to order at 5:30 pm,
Tuesday July 23, 2004.
Attendees
Wendy Degler, Jason Golde, Seth Hilgert, John
McGuire, Leo Philben, Jim Seitz, John Stephani, Mike Wahowske.
Secretary’s Report
Secretary’s report from the previous month’s
meeting was accepted without change.
Treasurer’s Report
Reviewed areas of loss from the last chapter year.
Discussed plans to break even this year. Wendy asked that the
minutes reflect a reminder that the IRS filling (form
990) needs to be completed by Sept. 30. Treasures report and a
copy of the 990 submitted to Montvale by Nov. 20.
Administration Report
John S. reported that the June lunch meeting attendance
has been reported. Wendy reported we should see the CPE credit
for the conference attendance. She also reported that there is
no change in chapter competition or compensation for this year.
Membership
Mike W. reported that the membership surveys are
completed. We received 54 responses. John M. suggested we place
the results on the web site. Mike will prepare a summary newsletter
article, and reference readers to the web site for more detail.
Mike has the detail in an Access database so we can slice and
dice as needed to further analyze the results. Mike also reviewed
his strategic plan for membership.
Set and Mike discussed ideas to spur membership
growth – e.g. incentives to bring new members to meetings.
We may want to do small follow-up to the survey using the free
options.
Education
Leo presented current draft schedule. Larry White,
new IMA Chair, may come to one of our meetings this year. John
M. and Leo discussed topic and speaker ideas in progress. The
board jointly established the special event nights for the year.
Each board member is encouraged to think of possible board social
activity for the fall.
Leo gave a report on the Kelsey Jenkins communication
update. Key dates for the chapter year:
July 26 – opt out of competition
Sept 26 – roster submission for roster competition
Nov 26 – 990 and treasurer report
Jan 26 – President and Secretary nominations for 2005-06
Feb 26 – Board nominations
March 26 – competition deadlines
April 26 – competition deadlines
May 26 – year-end deadline
Communications
Jason is working on the roster. Advertising to
pay for the roster is coming together.
A web master has been obtained for our web site.
Web master is same person who does the Northern Lights Council
site. Jason pointed out that PR position on board still open.
Board decided to table discussion until August meeting.
Other business
Jim Seitz will put out a letter to past presidents
inviting them to past Presidents Night.
Wendy will get a budget proposal to the board
prior to next meeting.
Wendy and Leo discussed Financial Executive of
the Year award, and timeline for nominations. We need nomination
ideas by August meeting.
Leo did appreciation of board members not present
at May’s meeting.
Leo presented Jason with the banner won by Lake
Superior Chapter for new CMA’s (Jason was chapter president
for Lake Superior last year).
Next month’s meeting to be held on August
24, at 5:30 with location to be determined
Meeting adjourned 7:55 p.m.
Submitted by John Stephani
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Call to Order
Leo Philben called the meeting to order at 4:30
pm, Thursday, April 20, 2004 at the RiverFront Radisson in downtown
St. Paul.
Attendees
Andy Benjamin, Wendy Degler, Shahla Dreyer, Dave
Evenstar, Seth Hilgert, John McGuire, John Stephani, Michael Wahowske,
and Leo Philben.
Members Absent
Donna Bennett, Tripp Parker, Jim Seitz, and Dave
McMahon
Secretary’s Report
Leo Philben presented the final version of the
April meeting minutes. After a review of the minutes, there were
no objections to entering the meeting minutes into the permanent
record.
Treasurer’s Report
Andy Benjamin presented the April 2004 financial
reports to the board members. Andy also presented a comparison
of actual expenditures to budget for April 2004. $2,000 is in
the budget to support sending Wendy Degler to the IMA National
Conference in Chicago, 26 – 30 June 2004. After a review
of the Treasurer’s report there were no objections to entering
the report into the permanent record.
Administration Report
John Stephani provided a brief update. The chapter
currently ranks in 76th position, just in front of the Minneapolis
Chapter, ranked in 77th place. A discussion surrounding Chapter
accomplishment of elective activities ensued. At the end of the
discussion the consensus is that the St. Paul Chapter meets the
criteria needed for the designation of “Superior Chapter”
for the 2003 – 2004 chapter year.
Membership Report
Mike Wahowske recovered slightly from his broken
hip, sufficient for him to attend the board meeting. We wish him
a speedy and complete recovery. Mike provided a brief update on
the status of Membership initiatives as well as a request for
a motion.
Motion: Wendy Degler
made a motion to authorize the use of “Survey Monkey”
at the 3-month “Professional Membership” level, paid
for from the Chapter Treasury, with monthly board review after
the 3-month membership expires. The motion was “seconded”
by Shahla Dreyer. The motion passed with unanimous voice vote.
Mike asked all board members to review the draft
survey and provide comments to him within the next week.
Education and Speaker Schedule Update
Wendy Degler provided an update of the monthly
dinner meeting schedule. The 2004 – 2005 Activity Planning
Calendar has been drafted. Most of the dates are known, as well
as the locations of our dinner meetings. The summer lunch meeting
experiment has been planned and an announcement was distributed.
Communications Report
Leo Philben provided an update for the board members.
Past Presidents
There were no updates from Jim or John.
New Business
The Northern Lights Regional Council meeting was
held on Friday, April 23, 2004 after the seminar. Wendy Degler,
Andy Benjamin, John McGuire and Leo Philben represented the St.
Paul Chapter at the Council meeting.
The Minneapolis Chapter is hosting a golf outing
on Friday, June 7, 2004 at the New Prague Country Club. The golf
outing is a great fund raising annual event for the Minneapolis
Chapter and we should consider conducting a similar event annually.
Golf is popular enough in Minnesota to support both Chapters using
golf as a fund raising effort annually.
Wendy will represent the Chapter at the upcoming
Annual Conference in Chicago. Others are encouraged to attend,
particularly if this would be their “first” attendance
at this event. Leo Philben will likely attend the Annual Conference
in Chicago too, participating in a “Chapter President’s
Conference” in a joint presentation with Doug Imholte from
Holmes Corporation.
Next Meeting
The next chapter board meeting will be held on
Wednesday evening, June23, 2004, beginning at 5:30 at Davanni’s
on the St. Paul east side (I-94 and White Bear Avenue).
Meeting Adjournment
There were no objections to adjourning the meeting.
The meeting was adjourned at 5:30.
Leo Philben
President and Secretary (2002-2004)
Board of Directors
IMA – St. Paul Chapter
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