Wall Street Works From Home

The video discusses how big banks are preparing for potential evacuations due to crises like the coronavirus. It covers business continuity planning, the role of boards in risk management, operational challenges, and solutions. The importance of investment strategies, governance, and employee safety is highlighted. The video also explores the board's role in strategic planning and cultural development.

What is a key component of business continuity planning for banks?

• Hiring more employees

• Increasing marketing efforts

• Developing redundant sites and remote work protocols

• Reducing customer service hours

Why is resilience planning considered an iterative process?

• Because it involves learning from past events and updating plans

• Because it is not required by regulators

• Due to the constant changes in technology

• Because it is only done once

What is one of the challenges firms face when implementing continuity plans?

• Difficulty in communicating with customers

• Increased competition from other firms

• Issues with remote work and travel bans

• Lack of interest from employees

How do banks ensure the safety of their workforce during a crisis?

• By hiring more security personnel

• By increasing working hours

• By implementing travel bans and remote work

• By reducing salaries

What is a significant consideration for banks when employees cannot come to work?

• Increasing their workload

• Providing additional training

• Ensuring the health and safety of employees

• Offering more vacation days

What does the 'G' in ESG stand for?

• Growth

• Governance

• Global

• Green

What role does the board play in a company's strategic planning?

• Managing day-to-day operations

• Setting employee salaries

• Designing marketing campaigns

• Overseeing and providing input on long-term strategies