Incident Response Starts With a Comprehensive Incident Response Plan of Action. A plan is more than a piece of paper in a three-ring binder. It takes an all-encompassing approach to traditional disaster recovery by implementing or formalizing your existing incident response plan. The Federal Financial Institutions Examination Council (FFIEC) says, .Institutions should have an effective incident response program outlined in a security policy that prioritizes incidents, discusses appropriate responses to incidents, establishes reporting requirements.”]
Source: https://www.cuinfosecurity.com/if-you-fail-to-plan-a-a-568