SIFMA Emergency Crisis Management Command Center Operational Resilience and Cybersecurity
Summary
SIFMA has issued guidance for its Emergency Crisis Management Command Center, focusing on operational resilience and cybersecurity for the financial industry. This initiative aims to coordinate business continuity planning and market response during emergencies or disruptive incidents.
What changed
SIFMA has outlined the operational framework for its Emergency Crisis Management Command Center, emphasizing its role in coordinating the financial industry's response to emergencies and disruptive incidents, with a specific focus on operational resilience and cybersecurity. The document details how SIFMA will identify the status of industry participants, disseminate vital information, and facilitate actions to assist market response and recovery, coordinating efforts among financial firms, exchanges, utilities, regulators, and government agencies.
Financial firms should be aware of SIFMA's role in coordinating business continuity planning and market response during crises, which can include events like cyber terrorism, IT failures, natural disasters, and pandemics. The document highlights SIFMA's process for assessing situations, convening committees, making market closure recommendations, and coordinating with public sector entities. Firms are encouraged to participate in industry-wide testing and utilize the provided BCP resources to enhance their readiness.
What to do next
- Review SIFMA's Emergency Crisis Management Command Center framework
- Ensure participation in industry-wide business continuity planning tests
- Utilize provided BCP resources for enhanced readiness
Source document (simplified)
- Readiness Exercises # Emergency Crisis Management Command Center
January 1, 2026 Issue:
- Operational Resilience and Cybersecurity
Committee:
- Operations & Technology
Through our Emergency Crisis Management Command Center, SIFMA provides critical services, information and resources to the financial industry to maintain or restore business activities in the event of emergencies or other interruptive incidents.
About
In the event of a significant incident that affects or has the potential to affect the operations of the financial system, SIFMA will help to coordinate the financial industry’s business continuity planning efforts. These efforts are managed through SIFMA’s Emergency Crisis Management Command Center, which identifies the status of industry participants, disseminates vital information and facilitates actions to assist market response and recovery. Coordination is arranged amongst financial firms, exchanges, industry utilities, regulators, government agencies and public sector emergency managers.
A significant emergency or incident can be regional or national, and may include events such as:
- Physical and cyber terrorism
- Major industry IT or operations failures
- Snow storms
- Floods
- Hurricanes
Pandemics
How it works
If a significant emergency or incident is detected, SIFMA assesses the situation at hand with a team of representatives from across the industry. If warranted, the Emergency Command Center is activated. Once activated, SIFMA coordinates an orchestrated sequence of events:
- Convene members of the SIFMA BCP Committee along with other interested parties to discuss the situation and next steps. Emergency alerts are disseminated with relevant information through websites and conference calls.
- Make any fixed-income or equity market closure recommendations through the SIFMA Market Response Committees.
- Continue coordination with exchanges, industry utilities, regulators and public sector emergency managers. The public sector represents local, regional and national government agencies such as U.S. Treasury, Homeland Security and through bodies such as the New York City Office of Emergency Management (OEM) and Emergency Operations Center (EOC), at which SIFMA holds and staffs an industry seat. Throughout the incident, information is disseminated and coordinated amongst relevant parties until the situation is resolved
Industry Testing
SIFMA holds industry-wide business continuity planning testing to encourage readiness for emergencies.
Resources
SIFMA and its members that are active on the Business Continuity Planning (BCP) Committees have assembled BCP resources that can help firms access key information from many of the private and public sector organizations we collaborate with.
For information regarding related committees, visit SIFMA’s operations and technology committees.
For additional information on BCP or SIFMA’s Emergency Crisis Management Command Center and Industry Testing, please email Thomas Wagner.
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