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How long the bank retains trades, for example, is completely different to how often it must backup the trading database to perform a system recovery.
A backup schedule is based on system recovery requirements. For example, in a high volume trading system with a requirement to recover in no more than 1 hour, you may need to take a backup 3 times a day. Or, in a low volume system with a requirement to recover in no more than 1 hour, you may be able to take a backup once a week.
A retention schedule is based on legal or regulatory requirements. For example, because the bank is required to keep tax records for 7 years, then the procedure to remove tax records that are older than 7 years is specified in a retention schedule.
John Lipinski
512-241-7381
[log in to unmask]
NEON Enterprise Software
www.neonesoft.com
Donna Grove <[log in to unmask]> wrote:
What is the difference between a Retention Schedule and a Back up Schedule
for electronic records/email?
An IT Executive in our company is convinced that they are the same.
Although I am convinced that they are different I could use assistance in
convincing IT.
Any help would be very much appreciated.
_______________________________________________________________________________
Donna Grove | AVP – Corporate Records Manager | Records Management
Department | PFF BANK & TRUST
499 North Garey Avenue | Pomona, CA 91767 | (: (909) 623-6517 Ext. 2500 |
fax:Â (909) 623-0893 | *: [log in to unmask]
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John Lipinski
Ofc: 512.219.9804
Cell: 512.785.9648
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