The Model Office Blog

Pandemic Planning Checklist

[fa icon="calendar"] Mar 27, 2020 10:19:05 AM / by Chris Davies

We hope you're going well as we finish the first lockdown working week. Last week we went live with our COVID19 risk management webinar which you can watch here. We produced a checklist that you can apply to your business to ensure you keep things ticking over through this Pandemic outbreak.
We hope you find it useful:
1. Ensure any impact is factored into the business strategy, roles and responsibilities and utilise RegTech to ensure you continue to comply and compete (Model Office's Financial Stress Test diagnostic is now available for free to help assess a firm's cashflow strengths)
2. Implement a process on investment decisions and capital requirements
3. Put a client communication plan is in place and employ a triage strategy when engaging clients. Advisers can then contact the client and assess how best to help the client
4. Once triage is completed engage clients through virtual technology such as Skype, Zoom, and running online reviews and meetings plus use FinTech applications such as Client Portals, Cash flow modelling or Robo-Advice 
5. Develop content led syndication across social media, blogs, opinion pieces, video to re-assure clients
6. Assess and understand your firm’s and client’s market exposure, hold regular board/invest committees
7. Understand the impact on Business Insurance, Rates and assess Government support
8. Work smart with staff working from home as necessary or developing shifts to minimise travel and personal interaction for staff and use webinar tech to hold team or conference meets
9. If consultants or Non-Exec Directors are employed and an absolute necessity to have them attend your business premises, then their engagements need to be assessed and a view taken on whether they need to self isolate for 14 days before returning having visited other 'at risk' premises. 

...and Live Long and Prosper...Keep well and Healthy 

Please click the below icon link to MO®'s #RegTech platform and learn more about MO® today..

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Topics: Financial regulation, Financial business development, fintech, regtech, Risk management, practice management, FCA, advice, HMT, suitability, FAMR, MiFIDII, SMCR, Data, Culture, Enforcement, supervision, audit, Conduct, AI, Risk,, Accountability, Platforms, PROD, Product governance, digital,, Regulatory, Reporting, HRD, PII, Pandemic, COVID19

Chris Davies

Written by Chris Davies

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