Seven insights from superstorm Sandy: a financial sector retrospective
$18 billion dollars. That’s the number estimated in damages caused by Hurricane Sandy just in the state of New York alone. With the unexpected turns that transpired amidst the super storm, all businesses were reminded of the importance of business resiliency.
Given the vast amount of information presented to-date, it is still very important that the financial sector revisit the surprises from Sandy to ensure that critical financial services are better protected. A team of experienced BCM advisors gathered the recommendations in the accompanying table from industry thought leaders in leading global financial services companies to learn from their perspectives.
The authors conducted interviews with BCMS, crisis management, and risk management officers from Direct Edge, DTCC, and other leading financial firms. Each participant discussed their views regarding lessons learned from Hurricane Sandy not as official representatives of their companies.
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