Resilience

1. Behavioural skills.

The ability of individuals to recover from difficulties or to withstand external pressures.

Practise resilience

Resilience is the best tool for when your environment changes, and this is a skill that can be learned.

Six ways to practise personal resilience:

• Attitude – understand your motivational state and how to change it
• Responses to stress – awareness enables control
• Commitment – what are your motivations?
• Control – understand what can and can’t be controlled in your environment
• Relationships – maintain clear and consistent communication
• Health – mental and physical

Four ways to practise personal resilience during COVID-19:

• Maintain boundaries between home and work especially when working from home
• Be transparent
• Manage your positivity
• Look out for verbal and non-verbal clues in your work relationships

Association of Corporate Treasurers, Mental wellbeing and top tips for thinking in a resilient way, May 2020

2. Risk management - organisations and systems - finance.

The ability of organisations or entire systems to recover from major problems, or to withstand adverse external conditions.

Examples of major problems include climate change, natural catastrophes, cyber-risk, financial market shocks and stresses.

Rolls-Royce bolsters financial resilience

"With the aviation sector decimated by COVID-19 and an entire staff base working from home, Rolls-Royce, which generates around 50% of its annual revenue from civil aerospace, undertook swift action to conserve cash and bolster liquidity through a series of complex transactions in the second half of 2020.

The deals stemmed from overarching aims to:

1. provide financial resilience and strong liquidity headroom to see the business through any severe but plausible downside scenarios on the recovery in air transport..."

ACT Deals of the Year Awards 2020 - Rolls Royce

See also

• ACT Competency Framework
• AMCT
• Black swan
• Business skills
• Capital Conservation Buffer
• Commercial drive and organisation
• COVID-19
• Emotional intelligence
• Equifinality
• Event risk
• Executive coaching
• Financial Policy Committee
• FOMO
• Growth mindset
• Headroom
• Influencing skills
• Liquidity
• Mind map
• Self management and accountability
• Self-regulation
• Silo
• SMART
• TCFD Recommendations
• Technical skills
• Wellbeing
• Working effectively with others

Other links

How to read your own emotions and develop resilience, The Treasurer, 2019