#212 Proactive Planning for CFOs: The CFO’s Role in Disaster Recovery with Wade Miller, Founder, OneRallyPoint

#212 Proactive Planning for CFOs: The CFO's Role in Disaster Recovery with Wade Miller https://open.spotify.com/episode/1ZB7kSmsx3bxgecNwlea03 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 https://youtu.be/1COkQguby9A Links Wade Miller on LinkedIn  Kevin Appleby on LinkedIn GrowCFO Mentoring 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