GrowCFO Show
The GrowCFO Show is the podcast produced for finance leaders by finance leaders
#212 Proactive Planning for CFOs: The CFO’s Role in Disaster Recovery with Wade Miller
The CFO’s role in Disaster Recovery is a critical aspect of risk management for organizations of all sizes. As the financial steward of the company, the CFO is responsible for ensuring the organization’s financial resilience in the face of unexpected events that can disrupt operations and threaten the bottom line. This podcast episode explores the complexities of disaster recovery and the strategies CFOs can employ to mitigate the impact of such events.
Wade Miller, the Founder of OneRallyPoint, shares his extensive experience in the disaster recovery industry, providing valuable insights and practical advice for CFOs.
Wade started OneRallyPoint to bring more efficiency to the overall disaster recovery process and improve the time, money and effort needed by all parties.
Wade has over 30 years of experience and demonstrated success working with large companies nationally and internationally. He utilized his background in the insurance, financial services and institutional banking industries to form a disaster recovery company in 2002. Spotting a critical need in the industry, Wade transitioned the firm from a disaster recovery contractor to what OneRallyPoint is today — an owner’s representative firm providing Recovery Oversight & Management with a national scale and international reach.
Wade is an effective collaborator and communicator who brings solutions to complex issues in otherwise stressful circumstances. He has the keen ability to identify the causes of persistent issues — and then design, strategize and create tactical plans to solve them.
Wade’s vision, broad background and high-level understanding of how clients need to run their businesses in disaster situations enable him to break down high-stress problems into manageable pieces through the comprehensive services of OneRallyPoint.
Throughout the discussion, Wade emphasizes the importance of proactive planning, effective communication, and a holistic approach to managing the recovery process.
Key topics covered:
- The diverse types of disasters that organizations may face, ranging from natural disasters to localized incidents like sprinkler floods and sewer backups
- The need to tailor disaster recovery plans to the specific needs and risks of different industries, considering factors such as physical assets, IT infrastructure, and workforce displacement
- The importance of aligning the recovery efforts with the organization’s objectives, ensuring that all stakeholders, including contractors, adjusters, and the client, are on the same page
- The role of expert input, such as industrial hygienists and engineers, in addressing complex issues like contamination and health effects
- The potential conflicts between insurance recovery and the need to restore business operations quickly, and strategies to balance these competing priorities
- The significance of pre-disaster preparation, including the selection of suitable contractors, the establishment of communication protocols, and the engagement of dedicated insurance adjusters
- The value of post-incident reviews and continuous learning to improve the organization’s disaster resilience
Links
Timestamps
- 0:00:10 – Introduction to the topic and guest, Wade Miller
- 0:00:52 – Wade Miller’s background and experience in the disaster recovery industry
- 0:02:15 – Types of disasters and common issues faced by organizations
- 0:03:46 – Consideration of IT assets in disaster recovery
- 0:04:13 – Understanding and assessing the organization’s risk exposure
- 0:06:27 – Balancing insurance recovery and business restoration
- 0:08:58 – Practical steps for CFOs to prepare for and mitigate disaster risks
- 0:13:20 – The importance of post-disaster review and learning
- 0:16:34 – Techniques and strategies for post-disaster review
- 0:19:19 – Real-life examples and client testimonials
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The Next 100 Days
The Next 100 Days Podcast is a leading UK business show. Through this podcast, Kevin and Graham reveal strategies you can use to improve your business and take it to the next level. In addition to featuring their own advice, Kevin and Graham host amazing guests from across the business world. Often the guests are successful, but lesser-known business owners and entrepreneurs, enabling the show to bring fresh content and stand out from many of the US based business shows.
Graham and Kevin believe that business change comes about when a business owner focusses on just one thing that will make a real difference to his business. That might be product development, a new product launch or a marketing campaign. Focussing for less than 100 days, or focussing on too many things generally won’t deliver the results you need, Equally, its difficult to maintain effective focus for much longer than 100 days without re-assessing priorities.
The Next 100 Days Podcast is your source to learn how to move your business forward, with practical advice and guidance that you can put into action and make a difference in your own organisation within the next 100 days.
Financial Advisor or Wealth manager?
Financial advisor Kostas Stylios joins The Next 100 Days podcast to discuss the differences between financial advisors and wealth managers and the conversation moves towards AI and robot-investing.
Summary of the Podcast
Kostas joins the discussion
- Kostas Stylios provides an overview of the key differences between financial advisors and wealth managers.
- He explains that while they often perform similar roles, wealth managers are typically associated with serving a wealthier clientele.
- Meanwhile, financial advisors may work with a broader range of clients.
Exploring the active vs. passive investing debate
- The conversation shifts to the debate around active versus passive investing strategies.
- Kostas and the hosts discuss the pros and cons of each approach
- These include: the higher fees associated with active management and the potential for active funds to underperform their benchmarks.
The future of financial advice and the role of AI
- The group explores the potential impact of AI and automation on the financial advice industry.
- They discuss the possibility of AI-powered “customer-facing devices” that could enhance client engagement and the challenges of maintaining the human element of financial advice in the face of technological advancements.
Clips from the Podcast
Difference between Financial Advisor and Wealth Manager
Restricted
https://thenext100days.org/wp-content/uploads/2024/11/Kostas-Stylios-Restricted.mp4
Testimonial
https://thenext100days.org/wp-content/uploads/2024/11/Kostas-Stylios-Testimonial.mp4
The Next 100 Days Podcast Co-Hosts
Graham Arrowsmith
Graham founded Finely Fettled ten years ago to help business owners and marketers market to affluent and high-net-worth customers. MicroMailings is his new low risk, done for you marketing solution for companies seeking high net worth leads. He is also founder of MicroYES, a Partner for MeclabsAI, which combines the world’s biggest source of 10,000 marketing experiments with AI. Find Graham on LinkedIn.
Kevin Appleby
Kevin specialises in finance transformation and implementing business change. He’s the COO of GrowCFO, which provides both community and CPD-accredited training designed to grow the next generation of finance leaders. You can find Kevin on LinkedIn and at kevinappleby.com