Deloitte launches Global Centre for Crisis Management
Helps clients prepare, respond to and recover from growing threats
Toronto, ON — 8 October 2014 – Deloitte today announced the launch of the Deloitte Centre for Crisis Management. The Centre helps clients manage the financial, operational and reputation impacts resulting from a major crisis event.
The Centre is equipped to handle the growing severity and frequency of crises, whether natural or manmade; economic, political, financial or technical. Deloitte’s global network of practitioners will help clients anticipate and stay ahead of growing threats, through preparation, planning and crisis simulation.
Financial crime and cyber-attacks are a growing threat across industry and the public sectors. In 2013, more than 700 companies suffered from at least one type of financial fraud resulting in a loss of 1.4 percent of revenues1. Cybercrime specifically costs the global economy over US $400 billion2 a year. Cyber related attacks in Canada impacted more than a third (36 percent) of Canadian businesses over the past year, ending November 20133.
Natural and environmental disasters also continue to create crises for businesses; the world saw 300 natural disasters in 2013 alone. In Canada, the Toronto Ice Storm, the Lac-Mégantic train derailment, and the Southern Alberta Flood cost Canadians $200 million, $683 million, and $1.7 billion respectively.
“When it comes to the likelihood of a crisis event disrupting your business, it’s not a question of if, but when and are you prepared for it,” said Peter Dent, Deloitte Canada Crisis Management Leader. “Here in Canada we’re likely to continue to experience severe weather events like we did this past summer and winter, which can create significant crisis for cities and their infrastructure. Cities must be prepared. The cost of not looking ahead can be devastating.”
Regardless of the nature of the crisis, how a company prepares for and reacts to it can determine the extent and duration of reputational damage. Add to that, a greater intolerance for reputational risk among business leaders. According to a recent survey of c-level executives, board members, and risk-executives, reputation was cited as the #1 strategic risk facing companies4.
“Clients are operating in an increasingly challenging global environment where a single mega event or a combination of events can significantly disrupt an organization’s strategic objectives, reputation, and/or existence,” said Jeremy Smith, Deloitte Global Crisis Management Leader. “The Centre builds on the Deloitte global network’s deep experience and established reputation in financial and operational crisis management to provide an extensive, end-to-end solution to clients. By integrating Deloitte’s unbeatable capabilities — including forensic, restructuring, financial crime, cyber, and resilience services — and our global reach, we are uniquely placed to help clients prepare for the full range of crises, and to respond immediately and effectively, and ultimately emerge stronger.”
The crisis management service will be launched globally — across all three of Deloitte’s operating regions, including the Asia Pacific; Europe, the Middle East, and Africa (EMEA), and the Americas.
In addition to supporting our clients through these challenges, Deloitte has a long history of supporting nonprofits and non-governmental organizations respond to humanitarian crises and natural disasters around the world through charitable and pro bono support. In 2013, Deloitte Global launched the Deloitte Humanitarian Innovation Program, which supports innovative, scalable solutions to improve the humanitarian sector’s readiness to respond to crises. Through the Program, Deloitte member firms have provided pro bono services to address some of the biggest challenges facing the sector, such as leadership development, surge capacity, and resilience.
For more information about Deloitte’s crisis management service, please visit: Deloitte Centre for Crisis Management
Deloitte, one of Canada's leading professional services firms, provides audit, tax, consulting, and financial advisory services. Deloitte LLP, an Ontario limited liability partnership, is the Canadian member firm of Deloitte Touche Tohmatsu Limited.
Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee, and its network of member firms, each of which is a legally separate and independent entity. Please see www.deloitte.com/about for a detailed description of the legal structure of Deloitte Touche Tohmatsu Limited and its member firms.
- Kroll: Global Fraud Report, 2013-2014
- Mcafee Report: Net Losses Estimating the Global Cost of Cybercrime, June 2014
- Ponemon Institute survey: Exposing the Cybersecurity Cracks: A Global Perspective, August 2014
- Deloitte: Exploring Strategic Risk, October 2013.