Lenders Compliance Group issues complimentary Business Continuity Plan Checklist and Workbook (Includes COVID-19 Pandemic Response)

MERRICK, N.Y. - March 16, 2020 - PRLog -- Lenders Compliance Group (LCG), the first and only full-service compliance firm with a suite of compliance solutions for residential mortgage lenders and originators, has issued today a valuable tool, entitled Business Continuity Plan Checklist & Workbook (Includes COVID-19 Pandemic Response).

The checklist is a valuable development tool to chart the progress in developing a Business Continuity Plan. This is a 60-page, form-fillable document that provides the basic compliance elements and due diligence essentials at this most critical time in the outbreak of the COVID-19 Pandemic.

There are distinct differences between pandemic planning and traditional business continuity planning. Pandemic planning presents unique challenges. Unlike natural disasters, technical disasters, malicious acts, or terrorist events, the impact of a pandemic is much more difficult to determine because of the anticipated difference in scale and duration.

Lenders Compliance Group is providing the Business Continuity Plan Checklist & Workbook (Includes COVID-19 Pandemic Response) on a complimentary basis to the financial services industry.

There are five modules, as follows:

Module 1: Business Continuity Team
Module 2: Facilities Continuity
Module 3: Recovery Requirements
Module 4: Pandemic Planning for COVID-19
Module 5: Generalized Pandemic Response based on NYS Model

Additional sections, some of which contain subsections, provide:

• Team Alert List
• Employee Call List Instructions
• Critical Vendors List (Sample Format)
• Key Customer Description
• Meeting Place Description
• Model Risk Matrix (Sample Format)

The Business Continuity Plan Checklist & Workbook (Includes COVID-19 Pandemic Response) is meant as a means toward building a functionally adequate Business Continuity Plan. Each financial institution is different and processes will vary. However, management should consider how to accomplish the following:

• Prevention and preparedness;
• Reconciling recovery times with business unit requirements;
• Disaster declaration and plan implementation processes;
• Recovery progress reporting; and
• Testing of the plans.

Lenders Compliance Group has established a dedicated form to request a complimentary copy of the Business Continuity Plan Checklist & Workbook (Includes COVID-19 Pandemic Response) directly from its website Home Page at www.LendersComplianceGroup.com.

About: Lenders Compliance Group
Lenders Compliance Group is the first full-service, mortgage risk management firm in the country that specializes exclusively in residential mortgage compliance. The firm offers a full suite of regulatory compliance services in mortgage banking. The national firm is widely known to be a pioneer in providing unique compliance solutions. The organization consists of Directors, Group Administrators, Attorneys, Compliance Consultants, Auditors, and Subject Matter Experts in all areas of mortgage compliance. Lenders Compliance Group supports its clients through hands-on guidance to effectively manage regulatory compliance risk. Providing knowledge, experience, research, and expertise, the firm offers a cost-effective way to implement mortgage risk management. For more information, call 866-602-6660 or visit www.lenderscompliancegroup.com.