ILA Vade-Mecum

Introduction and objective

The world has faced both sanitary and economic crises all along its history.

Not only individuals, but corporates as well are exposed to such crises, and may suffer from their consequences over a short-term or a long-term period and these consequences may in the end even turn out to become of a fatal nature.

In this context Boards and Management are on the front line within an organization. The better a company is organized to combat the effects of a crisis, the better it will be in a position to take secure, proactive and pragmatic actions and decisions.

As a crisis can hit at any time, Boards need also to be ready at any time to adapt their governance for answering as quickly and agile as possible to the numerous challenging issues they have to face, while providing guidance and support to the Management of the company.

With a view to helping Boards and Board Members in the context of a crisis environment, ILA is proposing to its members a Vade-Mecum, an “aide-mémoire”, aiming to illustrate the main issues that, in a crisis, may become relevant and important to focus on.

As a crisis includes different phases, the Vade-Mecum is divided into three parts: at the beginning of a crisis, the crisis phase itself and the post-crisis phase, with an intermediate phase of the exit from the crisis.


AT THE BEGINNING OF THE CRISIS 

  • Business Continuity Plan & Crisis Management Plan

  • Governance & Legal aspects

  • Human Resources

  • Communication

DURING THE CRISIS

  • Financial Impacts

  • Risk Oversight

  • Operations & Supply chain

  • Ethics

AFTER THE CRISIS

  • Lessons learned


This document is intended to remain high-level by nature, as it shall address any type of crisis (financial and/or sanitary and/or reputational and/or on cyber-security), and any type of organization/ company (SMEs or large corporations, privately-owned family businesses, Associations, regulated companies or not, listed or not, from the financial or industrial or commercial sector, NGOs).

For further information, this Vade-Mecum will include some links of relevant ILA publications or other documents that Board members would like to consult.

This Vade-Mecum will include the input from all different ILA working committees.

The first part of this document will be published by the end of May. Stay tuned!