Business Continuity Statement
Share Financial Services, Inc. (Share) conducts business with various churches and trust companies. These trust companies receive customer’s monies and maintain customer’s securities account(s). Pursuant to regulatory requirements, Share is hereby informing customers of its position on business continuity practices.
Share recognizes how heavily customers rely on its systems and services. Share also recognizes that the unexpected can and does occur; from isolated instances to major outages. Share wants customers to know that it has an extensive plan in place to help safeguard customers’ assets, and we work with the trustees in this regard. In addition, Share also has plans in place to protect vital account and other information in the event of a significant business disruption.
Share has pre-established contingency and disaster recovery plans. Components of these plans are tested on a periodic basis to ensure their adequacy and effectiveness. Share considers contingency planning to be an on-going process, requiring periodic assessments of various risks and the appropriate response(s).
Share’s continuity plan addresses, in detail, each of the following items: (1) data back-up and recovery of both hard copy and electronic records; (2) all mission critical systems, including our telephone, e-mail, Internet and links to the trust companies; (3) financial and operational assessments; (4) alternate communications between Share and our customers; (5) alternate communications between Share and its employees; (6) alternate physical location of employees; (7) critical business constituent, bank, and counter-party impact; (8) regulatory reporting; (9) communications with regulators; and, (10) how Share and the trust companies will assure prompt access to customers’ funds and/or securities in the event that Share determines that it is unable to continue its business.
Share has prepared contingency plans to address unforeseen events that may occur at the local, regional or national level. In the event of a localized disruption, such as a power outage to Share’s building or the Dallas-Fort Worth area, Share has developed plans to re-locate its employees to an alternate location. Share anticipates that the disruption to its business in this event will be minimal. In the event of a regional disruption, such as a tornado or other natural disaster, Share has developed plans that will allow access to customer’s accounts within minutes. In the event of a national occurrence, Share has developed plans to ensure that it will continue to service its accounts at all times when the major stock markets are open.
Any questions regarding this information should be addressed to Share at the phone numbers shown below.