Does your organization have a clear definition of what resilience means for your business? How much of a responsibility is this for CFOs today?
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Resilience in the business context is very important with dynamic business environment where changes take place at very rapid pace. It refers to an organization's ability to withstand and recover from disruptions, uncertainties, and unexpected events. It can include economic downturns, natural disasters, technological failures, cybersecurity threats, and other challenges. Resilient businesses are better positioned to adapt to change, maintain operations during disruptions, and recover quickly when faced with adverse conditions.
My view is that CFO, IT Security and SOX PMO have equal responsibility, so CFOs responsibility is 33% or so in this area.
We have not yet decided on any such clear definitions.
It encompasses the capacity to adapt to changing circumstances. It also helps manage risks and maintain operational continuity during adverse events effectively.
CFO steer the policies and strategic initiatives and holds very important role to mitigate any adverse effects.