Year 2000 Examiner Questionnaire

Introduction
This questionnaire is designed to capture macro-level information on Year 2000 preparations from financial institutions and their information systems vendors. The information will help examiners prioritize their Year 2000 reviews. The questions are presented in a "yes - no" answer format. However, examiners may also ask open-ended questions to develop a thorough understanding of the institution's/vendor's Year 2000 capabilities.

Capability

1. Are the institution's/vendor's information processing (hardware and software) and delivery (telecommunications) systems capable and ready to handle Year 2000 processing?

Overall Plan
2. Does the institution/vendor have a Year 2000 problem resolution process that includes these basic phases:
  • Awareness of the problem.
  • Assessment of complexity.
  • Renovation.
  • Validation.
  • Implementation.
3. Has the institution/vendor prioritized internally and externally maintained systems (hardware, software, and operating systems)?

4. Has the institution considered the impact of the Year 2000 on internal, environmental systems that are dependent on embedded microchips, such as vaults, security and alarm systems, elevators, telephones, FAX machines, and HVAC (heating, ventilation, and air conditioning)?

Resource Implications
5. Has the institution/vendor established a budget for the year 2000 effort?

6. Has the institution/vendor determined whether it has sufficient resources (hardware, people, and dollars) necessary to ensure Year 2000 processing capabilities?

Sponsorship/Monitoring
7. Has the institution/vendor assigned overall responsibility for the Year 2000 effort to a senior manager?

8. Has the institution/vendor established project target dates and deliverables for the Year 2000 effort?

9. Does the process include regular reporting to and monitoring by senior management?

Timing
10. Does the institution's/vendor's Year 2000 plan call for the renovation of all mission critical systems to be largely completed by December 31, 1998?

11. Will the institution's/vendor's testing for Year 2000 renovations be well under way, for mission critical applications, by December 31, 1998?


Last Updated: May 6, 1997