A diversified global financial markets infrastructure and data business with worldwide presence faced increasing challenges from wide-ranging risks. The organisation needed a qualified and trusted adviser with depth of strategic risk experience to strengthen operational resilience and help manage their most pressing concerns.
The immediate challenge in 2020 was the need for a prompt and effective coordination of crisis response to the COVID-19 pandemic. New risks that emerged with the Ukraine conflict required them to codify and apply their crisis response plan for emerging risks.
Marsh Advisory Consulting Solutions drew on our crisis management specialists, working closely with our brokerage team. We developed an ‘end-to-end’ process that generated threat specific crisis strategies, plans and exercises customized to support the needs of the business. Our process takes a lifecycle approach to crisis management.
We deployed Project Management Office (PMO) expertise to coordinate the crisis response and harnessed advanced analytics to evaluate different conflict scenarios and facilitated executive-level crises exercises.
Our 'full-spectrum' risk approach aligned the appropriate talent and capabilities within Marsh were involved at all times to support the dynamic risk needs of the business.
Ongoing access to an experienced crisis management consulting team and the introduction of an intelligent scenario planning framework, helped both to inform Board-level decision making and empower the entire organisation.
Additionally, we implemented a new crisis management plan to reflect the governance of the new operating company, and fully equipped the new Executive committee to perform with confidence in the face of future crises.
We take a holistic view to generating, benchmarking and improving crisis management and response capabilities. Genuine crisis preparedness spans organisational functions, geographies and business units. By considering these as their sum, rather than individual parts, an effective and enduring crisis capability can be built.
Scenario Planning: enabling effective decision making today and in the medium and long-term.
Strategic/ Communications Playbooks: providing action orientated plans for scenarios of high impact and likelihood.
Evacuation Planning: high-level planning to support tactical implementation which is relevant to newly de-stabilized regions.
Strengthening Crisis Frameworks: ensuring plans are fit for purpose in a new risk context.
Exercising & Simulations: stress testing new playbooks and plans, and providing an opportunity to practice organisational response to emerging risks.