In April 2024, the state of Rio Grande do Sul in Brazil was devastated by severe rainfall and floods. More than 400 cities were affected, impacting 2.1 million people. Tragically, more than 170 people died. The floods destroyed 200,000 homes and displaced 580,000 people. The disaster caused extensive damage to infrastructure, homes, and businesses, creating a dire need for immediate and effective support to the affected communities.
The humanitarian shock will reverberate for years, leading to both the public and private sector stepping up to help alleviate the impact. Sicredi, a prominent credit cooperative with a strong presence across Brazil and headquartered in Rio Grande do Sul, faced the immense challenge of supporting its associates and the broader population through this crisis.
In May 2024, we faced catastrophic floods in Rio Grande do Sul. Oliver Wyman was crucial in organizing and prioritizing our efforts and financial resources to support those affected. The team showed exceptional professionalism, quality, and sensitivity during this challenging time, addressing short, medium, and long-term recovery actions for our regionSicredi, Client Executive Director
Recognizing the urgent need for a strategic response, Sicredi partnered with us to develop a comprehensive crisis management plan. Over a six-week period, our team worked closely with Sicredi to analyze their resource allocation and governance structures, identify the most affected areas, prioritize short-term initiatives, and outline key implications for medium and long-term banking strategies.
We have a long-term relationship with Sicredi, whose core values includes supporting their local community. When the disaster struck, we immediately offered our assistance. Collaborating with Sicredi, we maximized their impact on the crisis management and helped the community recover from the disasterLeandro Vilain, Partner, Oliver Wyman
Our collaboration with Sicredi resulted in the development of a robust crisis management methodology. We designed processes and routines aimed at aiding the population, enabling Sicredi to allocate resources more effectively and support recovery initiatives.
Witnessing firsthand the challenges faced by Sicredi, its associates, and the affected population of Rio Grande do Sul, my team and I were motivated to develop effective measures that provided tangible support. It was inspiring to see the effort everyone put in to helpTommy Nilsson, Senior Consultant, Oliver Wyman
The methodology included the creation of a playbook with detailed recommendations for both immediate and future actions, ensuring that Sicredi could respond promptly and effectively to the crisis. One of the critical components of our project was the focus on credit initiatives. We provided a more in-depth approach to these initiatives, ensuring that financial support was directed to those most in need. Additionally, we built a dashboard for data monitoring, which enhanced Sicredi’s ability to track and manage their crisis response efforts in real-time. This tool provided valuable insights into the effectiveness of their initiatives and helped guide decision-making processes.
