The Ameriprise Financial Business Continuity and Crisis Management Program
At Ameriprise Financial, we build long-term relationships with our clients and strive to serve them with a personalized approach to meeting their financial needs while providing outstanding client service. Business continuity is essential to achieve that goal. Our commitment is to service and protect our clients’ and the company’s assets without disruption, as well as to meet our regulatory obligations.
Ameriprise Financial dedicates significant resources to the business continuity and crisis management program. The Ameriprise Business Continuity Management (ABCM) team oversees all aspects of the program enterprise-wide, including crisis management, planning, solutions and governance. The business continuity program’s framework addresses every level of the organization through the remediation of facilities, technology, applications, data, processes, governance and corporate strategy — inculcating continuity into the way the company does business.
We maintain a robust crisis management structure that allows for an efficient and effective response to crisis events. We have dedicated resources who proactively monitor worldwide events that may affect our facilities, clients, employees and financial solvency. Training and education is provided to help prepare the firm and employees for possible business disruptions, as well as validates a response for a variety of possible incidents with key employees.
The Crisis Response Team (CRT) is part of our business continuity and crisis management program structure. It is comprised of senior leaders representing all business areas and supported by subject matter experts, as appropriate. During a crisis event or business disruption, the CRT coordinates our response to help protect the well-being of employees, safeguard assets and provide continuity of critical processes.
The CRT utilizes a third-party web-based mass notification system that is not dependent on company infrastructure to distribute event notifications and communicate with employees. In addition, a crisis hotline is maintained for employees to report crisis events and obtain event status information.
At Ameriprise Financial, each line of business creates business continuity plans designed to address their specific needs and potential risks. We believe our business continuity plans and program controls meet regulatory requirements.
Business continuity plans (BCPs) are updated annually or in the event of a material change. Plans are updated through a series of plan enhancement workshops facilitated by a certified member of the ABCM team, with participation from business areas and senior leadership. As part of the planning process, we conduct a business impact analysis for each business area, which helps determine critical processes and ensures that appropriate recovery strategies and capabilities are in place.
Our BCPs are based upon a proactive “all hazards” approach in preparing for disruptions of varying severity and scope, and address both short-term and long-term disruptions. We have developed multiple recovery solution strategies that enable us to activate the appropriate strategy based upon the event’s severity and duration. This flexible, multi-faceted approach allows Ameriprise Financial to respond appropriately and effectively based on the type of event.
BCPs containing critical processes are validated annually. We review and update recovery strategies, solutions and capabilities through multiple types of exercises, including tabletops and functional and communication activities. Functional exercises include validating work-from-home solutions and third-party-hosted workplace recovery solutions.
Data backup and recovery
The backup and recovery of hardcopy and electronic data is of critical importance due to the significance of historical data in business operations, as well as the appropriate regulatory requirements. Electronic data is backed up between geographically dispersed data centers. Testing and validation of backup frequency is based upon the critical nature of the data. Our recovery approach is designed to guard against the loss of critical data.
Changes and Modifications
The Ameriprise Financial business continuity plan is subject to modification. We will post information about updates or modifications to the plan on our Web site. If you should have questions, please send an inquiry to:
70100 Ameriprise Financial Center
Minneapolis, Minnesota 55474