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11 Mar

Managing Risk & Maintaining Business Continuity During the Coronavirus Pandemic

The coronavirus continues to spread and cause disruption. More country’s announce part or total lockdown, including yesterday’s announcement that the whole of Italy is now in lockdown, with 60 million people being restricted by travel and social gatherings – And It looks like other countries will follow.

Businesses will need to keep going as best they can during the more disruptive period of the Coronavirus pandemic, maintaining business continuity is essential.

Many companies are being responsible by implementing strategies to prevent the spread of coronavirus, and to limit the potential devastation it could have on the continuity of their business, including:

  • Launching working from home policies.
  • Halt on all overseas business travel.
  • Split teams 50% office based and 50% homebased.
  • Requesting self-quarantining of staff post trips to affected areas, or if showing signs of symptoms.

In addition to adopting these strategies, and a crucial part of planning, firms should be looking at the use of Consultants or Interim Contractors, they can play an important part in allowing many organisations to continue operations by:

  • Audit and update of disaster recovery policies and procedures.
  • Risk analysis.
  • Supporting business continuity planning (BCP).
  • Interim resourcing to deliver on specific projects.
  • Additional skilled personal to support where roles or teams have been temporarily compromised.
  • Implementation of disaster and recovery plans.
  • Interpretation and implementation of global government guidelines.

Currently there is no sign of the coronavirus subsiding. It has been agreed that tackling coronavirus will require a national and international effort. Firms will need to play their part in prevention and safeguarding their business operations.

Danos Consulting is a specialist financial services consultancy firm. With an unparalleled talent network, we provide experienced, first class practitioners at affordable costs on an international scale.

We have a bench of over 800 Compliance, Risk and Legal Consultants, which we use to resource projects. We offer staff augmentation, interim resourcing and consulting services.

If you would like to find out more or would like our support, or advice on our Consulting solutions, please do get in touch.

  • Author

    Katherine Lord

    Associate Partner, Head of Danos Consulting

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