Extreme Weather Will Be the New Normal: Demrovsky

The video discusses the importance of preparation for extreme weather events, emphasizing that while such events cannot be controlled, organizations can control their readiness and response. Financial institutions, like City, have long been engaged in disaster recovery and continuity planning, focusing on people, technology, and location redundancy. The video also highlights the role of information security during natural disasters and the importance of robust plans to maintain market presence. Finally, it stresses the need for community resilience and the collaboration between the private sector and government to ensure critical infrastructure recovery and support vulnerable communities.

What is the main focus of organizations in preparing for extreme weather events?

• Controlling the events themselves

• Ensuring they have plans to recover

• Ignoring the events

• Predicting the exact events

What is a key component of business continuity plans in financial institutions?

• Focusing solely on technology

• Reducing staff numbers

• Increasing marketing efforts

• Ensuring redundancy in people, technology, and locations

How did City ensure continued operations during a disaster?

• By halting all trading activities

• By relying on a single technology

• By moving traders to a different location

• By closing all operations

What is emphasized as crucial for community resilience during disasters?

• Government resources allocated to vulnerable communities

• Focusing only on businesses

• Reducing private sector involvement

• Ignoring community needs

What percentage of critical infrastructure is in the hands of the private sector?

• 100%

• 30%

• 85%

• 50%