WDPG App 12.1 Documentation, approval and maintenance
The final output – the wind-down plan – will be easier for its future users to implement if it is simply structured for ease of reference with sections such as:
- (1)
governance process for wind-down scenario (WDPG App 6);
- (2)
operational analysis for winding down (WDPG App 8);
- (3)
estimated revenue/costs schedule of wind-down (WDPG App 9); and
- (4)
resource assessment (WDPG App 10).
The governing body of a firm should review and approve a wind-down plan and then maintain it by designating an accountable individual to own the document. This maintenance will ensure its reliability as an effective resource for the firm.
Effective |
Less effective |
Wind-down plan is kept as a live document and is reviewed at least once a year. |
Wind-down plan is left unrevised for years. |