Risk Management implications of Coronavirus (COVID-19) – for Non-Executive Directors

The health and economic implications of COVID-19 will affect a wide range of businesses and their customers. The latest Pandemic Briefing is aimed at assisting Non-Executive Directors, particularly in financial services, on the risk management implications of the pandemic.

In the face of the global response to the COVID-19 pandemic, businesses need to adapt to meet and balance the rapidly evolving requirements and expectations of all of its stakeholders, including customers, community, government, employees, regulators and shareholders/investors. For financial institutions there is, in addition, the disruption and volatility in financial markets to contend with.

Businesses also need to continue to provide their business-as-usual products and services, as well as protect the health and wellbeing of their workforces and the wider community.

This Pandemic Briefing has been prepared by John Evans and Ian Laughlin (COVID-19 Working Group). Following the previous briefing on Risk Management implications of Coronavirus (COVID-19) – for Management, this note is aimed at assisting financial services Non-Executive Directors (and especially Risk Committee members) and is complementary to the Management briefing note.

This note is aimed at assisting financial services Non-Executive Directors (and especially Risk Committee members) in their considerations of the risk management implications of the COVID-19 pandemic. It is complementary to the Management briefing note.

The Working Group is keen to hear your thoughts relating to this briefing. Please share them on the discussion forum here.