What is a Financial Resilience Plan?
A financial resilience plan is a comprehensive plan that outlines the steps and strategies your organization needs to take to ensure it is financially stable and prepared to weather economic disruptions or market volatility. The plan should include multiple focus areas, objectives, measurable targets (KPIs), and related projects to achieve those KPIs. The goal is to create stability and mitigate risk so that your organization can remain successful.
What's included in this Financial Resilience Plan template?
- 3 focus areas
- 6 objectives
- 6 projects
- 6 KPIs
Each focus area has its own objectives, projects, and KPIs to ensure that the strategy is comprehensive and effective.
Who is the Financial Resilience Plan template for?
This Financial Resilience Plan template is designed for financial institutions, banks, and organizations in the financial sector. It provides a comprehensive strategy to help these organizations create a financial resilience plan that will ensure their stability and preparedness to withstand economic disruptions and market volatility.
1. Define clear examples of your focus areas
A focus area is a broad topic that your financial resilience plan should address. Examples of focus areas may include financial risk management, financial modeling, financial system security, and more. Each focus area should include objectives, measurable targets (KPIs), and related projects to achieve those KPIs.
2. Think about the objectives that could fall under that focus area
Objectives are the desired outcomes of the focus area. Examples of objectives may include increasing capital reserves, reducing leverage ratio, strengthening predictive analytics, and reducing model risk.
3. Set measurable targets (KPIs) to tackle the objective
KPIs (Key Performance Indicators) are measurable targets that are set to monitor and measure the progress of an objective. Examples of KPIs may include increasing capital reserves to a minimum of 6 months, reducing leverage ratio from 20:1 to 10:1, and increasing the accuracy of predictive models from 65% to 85%.
4. Implement related projects to achieve the KPIs
Projects (or Actions) are the specific activities that need to be completed in order to achieve the KPIs. Examples of projects may include increasing financial reserves, reducing debt obligations, increasing the accuracy of predictive models, and increasing model quality.
5. Utilize Cascade Strategy Execution Platform to see faster results from your strategy
Cascade Strategy Execution Platform is a powerful tool that helps organizations create, monitor, and adjust their financial resilience plans. With Cascade, you can quickly and easily create objectives, KPIs, and projects for each focus area, and track your progress in real-time. Cascade also provides powerful analytics that allow you to adjust your strategy and ensure you are on track to achieve your goals.