burger menu
How financial services firms can manage through crises

How financial services firms can manage through crises

    Add to bookmarks
SUMMARY

This paper takes a look at how planning can help remove uncertainty during crisis events, like COVID-19, which range from communications planning to post-event management.

In the wake of the coronavirus outbreak, the report outlines a few steps to better decision-making. It is important to clarify roles and responsibilities beforehand, as well as establishing a clear definition of escalation processes and triggers. 

Corporate communication is also key in crisis management like Covid-19. An effective communications strategy includes several aspects. Corporations should design beforehand current reference materials for communications. It is paramount that it's clear who speaks to media, when and how. Companies should not forget communication with employees and materials for them should also be designed while communication with regulators should be coordinated and transparent.

Regarding the business operations aspects, the paper suggests companies to set up processes ahead of time, so that businesses can concentrate on response during a crisis.

 

OUTLINE

Decision-making

Communications

Operations

Post-event

 

DETAILS

Overview

Researchfinder Rating
5 out of 5 stars
Title
How financial services firms can manage through crises
Region
Global
Published
March 12, 2020
Publisher
Ernst & Young
Author(s)
Cindy Doe, Mark Watson
Price
FREE
Language
ENGLISH

Content

Number of Pages
10
Number of Tables
0
Number of Exhibits
0
Topics
business-and-corona
Tags
banking, corona, coronavirus, corporate communication, Covid-19, crisis management, cyber risk, cyber security, financial services, financial system, health, healthcare, security
Author(s)
Cindy Doe, Mark Watson
Methodology
Not available.

Similiar Reports

Corona Update Outbreak

FREE

How companies can reshape results and plan for a COVID-19 recovery

FREE

COVID-19: Global Health & Crisis Response

FREE