DTCC Connection

The Enterprise Business Continuity Management (BCM) program for The Depository Trust & Clearing Corporation (DTCC) and all its subsidiaries has been recognized by ANSI-ASQ National Accreditation Board (ANAB) as International Standard Organization (ISO) 22301 certified.

ANAB is a non-governmental organization that provides accreditation services to public- and private-sector organizations and is jointly owned by the American National Standards Institute and the American Society for Quality. ISO 22301 is an internationally recognized standard of preparedness for disaster recovery and BCM programs.

David LaFalce, DTCC Executive Director, Global Business Continuity and Crisis Management, noted that achieving this certification came at the perfect time: “With resiliency a key DTCC goal for 2017, this recognition demonstrates our program’s commitment to strengthening and maintaining our adherence to leading practices and ensuring continuity of operations for our clients.”

Raising the Bar

Achieving the ISO 22301 standard certifies that DTCC and its subsidiaries have the requisite BCM controls in place to maintain the continuity of our operations. ISO 22301 Certification is awarded only to those companies that can meet the standard as judged by an independent, accredited team of auditors. Thus far, DTCC’s BCM team has completed the initial three stages: a pre-assessment establishing that DTCC was prepared to undergo the ISO 22301 certification process; a stage 1 audit focused on BCM team members’ knowledge and expertise, as well as the structure of the program; and a stage 2 audit focused on BCM stakeholders across the organization, to evaluate their engagement with and knowledge of the BCM program. The BCM team will now enter a period of surveillance, during which they will continue to be visited by auditors to ensure DTCC’s BCM program remains compliant with ISO 22301 requirements.

The certification will prove vital as regulators focus increasingly on firms’ resiliency in the future, notably through the SEC’s Regulation SCI (Systems Compliance Integrity). This year and in those to come, the BCM program will be subject to rigorous scrutiny as part of the certification retention process.