How can senior management and the Board of directors address the multiple Corona issues
The Board of Directors must understand the company’s total risk exposure of, e.g. a cyber attack, financial, legal and reputational risks and impacts. Further, management and the Board must have the competences, practised a cyber breach simulation with management and understands the various procedures to address and deal with the new issues created by the COVID 19 pandemic.
Despite the ongoing challenges faced by global businesses, as lockdown measures ease and companies start to re-open and adjust to a new way of working, directors across all sectors will be looking ahead and need to maintain a ‘hands-on’ approach to considering, implementing and communicating critical decisions.
It remains vital not only to deal with events in real-time as they arise but also to anticipate the next set of challenges and put appropriate measures in place to protect the business from further waves of the Covid-19 pandemic.
Talking openly about the risks and opportunities at Board and senior management level will allow directors and top management teams to engage and proactively manage conflicting pressures, build greater resilience and achieve the best possible outcome for the business in the short, medium and longer-term.
The purpose of this Board Briefing is to provide an overview of the critical issues that may lie ahead together with a list of action points to help set the agenda for discussions on the following areas:
- Financial and strategic opportunities
- Corporate governance and legal
- People and health and safety
- Stakeholders: customers, clients and the market
- Data protection and Cybersecurity
- Insurance cover
- Ethical and ESG.
Please see the attached note that this Board Briefing is not intended to be exhaustive and is only an outline of the issues and points that may need to be considered. How relevant each of the items will be to a particular business will depend on the nature, size, scale and complexity of the appropriate organisation.
If directors, senior management or in-house lawyers want to discuss any of the issues below in more detail, please do get in touch. Our Corporate lawyers are pleased to talk these through face to face (via video conference).
For further information on online training and certification see:
IT and Cybersecurity; https://www.e-compliance.academy/course/cybersecurity-foundation-certification/
For legal advice bescribed in the attached brochure contact: Claus Andersen <Claus.Andersen@roydswithyking.com>