“The consultancy reported that Wirecard’s third-party business lacked compliance policies and internal oversight. It warned that such shortcomings in control functions could lead to managers ‘cutting corners illicitly’ who want to meet internal targets.”Financial Times
July 14, 2020
“All of these shortcomings had a ‘high probability of reputational, economic and legal risks.’”
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Reputation risk is the peril of behavioral economic harm from angry stakeholders.
Risk governance and management, risk financing, and risk transfer through insurances comprise the constituent elements of a comprehensive enterprise reputation risk management solution.
What’s your strategy?