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Building Resilience: The Role of the Finance Department

 
  John W. Braine, Partner, CFO Edge, LLC  
   
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  Article Summary  
With cybercrime and other major business disruptions increasing in frequency and scope, an essential strategy is to make building resilience the role of the finance department.

With its view across an organization and expertise in risk management and analytics, the finance department should lead the way in developing "what if" scenarios to assess risk and preparing action plans to address business disruptions.

Reviewed are five risks of not planning for disruptions, five steps finance teams should take and six benefits of being prepared.

With a proactive and collaborative approach in planning for disruptions, the finance department will help minimize risks, as well as reveal potential organizational weaknesses that must be addressed.

Executives leading businesses in Greater Los Angeles and Southern California who are interested in knowing what their risk factors are - and what should be done about them now - can benefit from talking with a provider of outsourced CFO services.

An on-demand CFO brings both client-side and services-side expertise in assessing and prioritizing risks, in developing proactive corrective actions to mitigate risks now, and in preparing loss-recovery plans should a disruption occur.

  Open as PDF Open the entire article as a downloadable PDF (No form completion is requested.)  
     
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