Financial Services Survey: COVID-19 Impact and Response
Our firm recently developed a comprehensive survey questionnaire to determine how the financial services industry was impacted by the spread of the Coronavirus Disease 2019 (“COVID-19”), how firms responded, what lessons were learned and suggestions on how to improve the resilience to future disruptions.
While the industry has invested in business continuity infrastructure, improved staff readiness and disaster preparedness, there is no modern precedent for a crisis and disruption of this scale.
The survey incorporated questions about preparedness, BCP implementations, business or supply chain disruptions, missteps in planning and responding, lessons learned and actions going forward.
The survey was conducted on a blind basis, and a cross section of market participants responded.
The following is the full report: