Working Together: Bank Regulators Encourage Flexibility and Offer the Same During COVID-19 Pandemic
It goes without saying that COVID-19 has disrupted the world in a manner not seen before in our lifetimes and has required everyone to make adjustments to their personal and work routines. In response to the outbreak, bank regulatory agencies in the U.S. have encouraged financial institutions to be flexible and work constructively with customers […]
Hackathon to Save Small Business
As with millions of other people around the globe, I am sheltering in place. Until last Thursday, my plan for the weekend was to immerse myself in a novel from the never-ending list of “books I intend to read.” But, on Thursday, I and several of my Protiviti colleagues received an invitation from the Alliance […]
CECL Deferred for Banks Due to the Impact of the COVID-19 Pandemic
CECL is on the verge of being deferred. Late yesterday, the Senate passed its $2.2 trillion stimulus package. The final bill indicates that no insured depository institution, bank holding company, or any affiliate thereof shall be required to comply with the Current Expected Credit Loss (CECL) standard during the national emergency, until as long as […]
Operational Resilience: Measuring Impact Tolerance the FAIR Way
Among the UK supervisory authorities’ proposals and expectations for building operational resilience, the rules on “impact tolerance” have generated substantial debate and confusion. Mostly, the discussion has centered around how firms would go about quantifying that point in time when the viability of their important business services and processes is irrevocably threatened by a disruptive […]
Leading Remote Teams in Times of Uncertainty
As the COVID-19 pandemic continues to disrupt business activity across the globe, organizations are reacting to unexpected challenges and adopting new business practices to align with social distancing, school closures and other public health measures. While the long-term impacts of these changes are unclear, the rapid shift to remote employee working arrangements has emerged as […]
The People Side of COVID-19: The Ultimate Test of Resilience?
By any measure, the COVID-19 crisis represents an extraordinary set of circumstances, a perfect storm that could pose the ultimate test of resiliency for business organizations: Can they pivot through this daunting environment in a way that keeps both their operations and their brands intact? Some have referred to this global pandemic as a black […]
