Presentation on theme: "The Financial Services Sector Coordinating Council"— Presentation transcript:
1 The Financial Services Sector Coordinating Council (FSSCC)George S. HenderChairmanSector Coordinator
2 Critical Infrastructures Government ServicesTransportationEnergyWaterPublicHealthCritical InfrastructuresDefense Industrial BaseEmergencyServicesAgricultureChemicalIndustryTelecommunicationsPostal & ShippingFoodFinancialServices
3 D. Scott Parsons CHAIRMAN PUBLIC SECTORPRIVATE SECTORUS TreasuryDeputy Assistant SecretaryCritical Infrastructure Protection & Compliance PolicyD. Scott ParsonsFBIIC CHAIRCHAIRMANSECTOR COORDINATORGeorge HenderFinancial and Banking InformationInfrastructure Committee(FBIIC)US Treasury DepartmentCommodity Futures Trading CommissionConference of State Bank SupervisorsFederal Deposit Insurance CorporationFederal Housing Finance BoardFederal Reserve Board of GovernorsHomeland Security CouncilNational Association of Insurance CommissionersNational Credit Union AdministrationNew York Federal Reserve BankOffice of the Comptroller of the CurrencyOffice of Federal Housing Enterprise OversightOffice of Thrift SupervisionSecurities and Exchange CommissionFinancial Services Sector Coordinating Councilfor CIP/HLS, LLC*(FSSCC)Financial Services Trade Associations & InstitutesChicagoFIRSTDepository Trust & Clearing CorporationNew York Board of TradeThe ClearinghouseChicago Mercantile ExchangeFS/ISACSecurities Industry Automation CorporationThe Options Clearing CorporationVISA USAFannie MaeThe Nasdaq Stock MarketASIS International
4 Financial Services Sector Coordinating Council for CIP/HLS, LLC(FSSCC)Financial Services Trade Associations & InstitutesChicagoFIRSTDepository Trust & Clearing CorporationNew York Board of TradeThe ClearinghouseChicago Mercantile ExchangeFS/ISACSecurities Industry Automation CorporationThe Options Clearing CorporationVISA USAFannie MaeThe Nasdaq Stock MarketASIS InternationalScopeCritical Infrastructure Protection and Homeland SecurityMissionFoster and facilitate the coordination of financial services sector-wide voluntary activities and initiatives designed to improve Critical Infrastructure Protection and Homeland Security.
5 FSSCC Members ABA – American Bankers Association ACLI – American Council of Life InsurersAIA – American Insurance AssociationASIS – ASIS InternationalACB – America's Community BankersBAI – Bank Administration InstituteBITS/FSR – BITS and The Financial Services RoundtableChicagoFIRSTChicago Mercantile ExchangeCLS GroupCBA – Consumer Bankers AssociationCUNA – Credit Union National AssociationDTCC – Depository Trust & Clearing CorporationFannie MaeFIF – Financial Information ForumFS/ISAC – Financial Services/ Information Sharing & Analysis CenterFIA – Futures Industry AssociationFSTC – Financial Services TechnologyConsortiumICBA – Independent Community Bankers ofAmericaICI – Investment Company InstituteMFA – Managed Funds AssociationNASD – NASD, Inc.NASDAQ – NASDAQ Stock Market, IncNAFCU – National Association of Federal Credit UnionsNACHA – National Automated Clearinghouse AssociationNYBOT – New York Board of TradeSIA – Securities Industry AssociationSIAC/NYSE – Securities Industry Automation Corporation/New York Stock ExchangeThe BMA – The Bond Market AssociationThe Clearing HouseThe OCC – The Options Clearing CorporationVISA USA – VISA USA, LLC
6 Objectives for 2006/2007Establish More Permanency in the FSSCC Management Structure.Current structure - knowledge lost with each leadership transition.Need to prevent this recurring “brain drain”.Establish a group consisting of FSSCC and FS/ISAC members to examine ways to address the transition issue and more clearly define the relationship between FSSCC and the FS/ISAC.
7 Objectives for 2006/20072. Improve Information Sharing Between FSSCC and Its Public Sector PartnersCurrent information flow is too one-sidedClassified briefings a good first stepWork with Treasury to:Improve the FSSCC/FBIIC joint meetingsIdentify avenues for collaboration with public sector agencies
8 Objectives for 2006/2007Clarify and Communicate FSSCC’s Role During a CrisisFSSCC needs to be more engaged with its members during a crisis.This includes natural disasters and terrorist events.Early start on major hurricanesDevelop a Disaster Response Protocol (DRP): define “what, how and when” FSSCC will respond in a crisis.Coordinate response/communications with FS/ISACCoordinate with FS Industry Emergency CallsCoordinate with DHS crisis response/communications
9 Objectives for 2006/20074. Develop and Deploy an Emergency Credential for FSSCC MembersAccess after a disaster is a major issue for membersBecause of multiple jurisdictions and levels of gov’t agencies “credentialing” will be very challenging.Research existing credentialing initiativesWork with Treasury/DHS to develop and deploy an emergency credential for FSSCC members.No guarantees…having something is better than nothing.
10 Objectives for 2006/20075. Ongoing Focus on Avian Flu Developments and Best PracticesMembers universally concerned about being adequately prepared for an outbreak of avian flu.Wide range of relative preparedness within the sector.Implemented an Infectious Disease (Avian Flu) Forum to provide an opportunity for collaboration and identification of best practices and current information.Held quarterlyLead by Securities Industry Association (SIA)
11 Objectives for 2006/20076. Implement an Information Campaign Aimed at Key Congressional Staff and Critical Government Agencies.FSSCC has a great track record; much has been accomplishedHave a great story to tell…need to be sure that key public sector people and critical agencies hear it.Collaborate with Treasury to develop a strategyInform Congress and critical federal agencies regarding FSSCC’s activities.
12 Objectives for 2006/20077. Continue to Promote and Support Regional CoalitionsMature groups in both New York and Chicago.Great momentum with new coalitions underway in Florida (Tampa and Miami), Minneapolis, SanFrancisco and Los Angeles.Efforts are also underway in DC, Houston, Oklahoma City, Las Vegas and JacksonFSSCC will continue to support regional coalition formationChicagoFIRST leading quarterly meetings for existing regional coalitions to provide opportunities for collaboration and coordination of their agendas/activities
13 Objectives for 2006/20078. Build Public Trust and Confidence in the Financial Services Sector.Value of FSSCC is coordination within the sector and with government - this will lead to better crisis response.Need to make the sector and public aware of FSSCC.Develop and implement an information plan to increase awareness of FSSCC and its role.