Replay: Assessing your changing risk profile and planning for recovery
As we approach the time to recover from COVID-19, it is important to prepare for potential “what if” arrangements that may occur during this next stage. These may be influenced by a combination of external, internal, organisational or industry based factors such as changes in consumer behavior, political decisions, technological impacts, competitive landscape changes or the culture within your organisation. The flow on effects from this pandemic are unknown, so it’s important to be proactive and plan for potential impacts to your business as well as seeing what the “new normal” means for you and your company.
In the 4th instalment of our special webinar series held on Wednesday 29th April, which is now available for replay, Ben Crowther, Head of Strategic Risk Services (NSW/QLD), reveals some of the key ways in which organisational risks have changed due to COVID-19.
Key insights that were shared in this presentation include:
- How your risk profile can be assessed at this time, and effective ways – including war gaming – businesses can better manage through different recovery scenarios.
- Immediate and long-term implications can result in increased or new liabilities and risks, such as increased employee liabilities and cyber threats.
- The broad causes including your external environment, industry forces and organisational forces, as seen through one lens.
- A process of prioritising to optimise management time and resources.
- The strategies and changes that you need to consider for your entity.