Blog

Here we bring you a fresh view of enterprise, with insights and analysis from the TORI team.

The CEO of TORI has been in the city and worked in financial services for over 35 years.

As we eagerly await the government’s announcement on the review of restrictions and a plan for the economic restart, how would this challenge the government’s culture and ability to endure and remain cohesive in such an unprecedented time?

In a time from now we may look back and say the year of 2020 was the true beginning of the virtual communication age. The disruption that COVID19 is having within the workplace, is unprecedented and businesses need to adapt to operate efficiently…if not survive.

These are challenging times for all of us. Notwithstanding the huge human cost of the pandemic, the economic impact looks set to play a sustained part in determining the fortunes of business of all shapes and sizes for the foreseeable future.

The UK Government recently launched a £500M Future Fund to provide assistance to start-ups; in the financial services this means FinTechs, RegTechs, InsurTechs. Through the loan scheme, early-stage, high-growth companies can apply for funding to help them stay viable during the coronavirus crisis.

AS the COVID-19 pandemic continues to create havoc and to disrupt the entire fabric of society, producers are striving to step up their efforts when it comes to providing consumers with essential goods and to protect the health and well-being of communities. 

In order to achieve this, organisations are facing challenges that require extraordinary measures to ensure that essential goods continue to be produced and delivered to Health service institutions, stores and consumer doorsteps.

COVID-19 has quickly established itself as the watershed event forcing many organisations to rethink their Target Operating and Supply Chain models. For many organisations, the pandemic is stretching their capability to operate within their existing business model and challenging their supply chain flexibility to breaking point.

Operational Resilience enhances risk management capabilities to ensure a business can continue to effectively operate in the face of a crisis. Organisations must be prepared to manage incidents holistically, invoke crisis management processes and respond to events in order to minimise financial losses, regulatory impacts and client detriment. 

Operational Resilience BCP

In these unprecedented times, firms are having to deliver BAU activities while operating contingency arrangements. Business Continuity Plans (BCP) have historically been developed in silos at a functional level or at best for a specific Line of Business. In all instances, scenario planning has been formulaic and limited in scope. Understanding and holistically planning for end-to-end impact across the business remains work in progress.

In the first of a series of events from TORI Global and international law firm, Taylor Wessing, we hosted a webinar to discuss a number of critical topics around the new EBA Outsourcing Guidelines.

Blog no.3 in our series examines the impact that Third Parties can have on an organisation's business resilience, and provides steps to take for managing its inherent risks.

Our blog series continues with a look at the crucial role that people and culture play in contributing to Business Resilience.

The first instalment in our three-part blog series on Business Resilience. In this entry, we set the scene with regards to the view from the market place and introduce our approach on the topic.

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