Core Crisis Challenges and Facing the Unknown

The Coronavirus (COVID-19) pandemic is testing both businesses and the human beings who anchor these businesses. As companies and workers adjust to the new norm, leaders should be hyper focused on business continuity plans and how they will keep the organization resilient and viable in this disruptive environment.

Organizations must evaluate operational impact holistically, determining how individual issues can cascade to other areas, potentially causing greater impact. While this pandemic is unlike anything the world has seen, there are many lessons that can be learned from the 2008 financial crisis.

How can organizations bolster resiliency in this uncertain environment? What lessons can be applied from the most recent financial crisis to inform leadership decision-making now and chart a pathway forward?

Core Challenges

While the ultimate implications and impact of COVID-19 are not yet known, agencies can and should think proactively to address perceived challenges with respect to lending, credit exposure, liquidity, and securitizations.

Specifically, organizations should be thinking through these challenges:

Challenge 1: Navigating the Unknown
Challenge 2: Establishing Governance, Risk, and Compliance for New Operations
Challenge 3: Meeting Surge Demand and Staying Agile in a Rapidly Changing Environment

While the implications and impact of COVID-19 are vast, there have been many previous crises from which we can learn. By applying these historical insights, federal agencies can help prioritize changes that have the most impact.

This paper provides examples of Guidehouse’s expertise in solving issues stemming from the 2008 financial crisis and how these lessons might offer solutions to agencies in dealing with the core challenges of the pandemic.

Additional authors and contributors: Michael Tegel, Carson Mullins and Brian Karp.