Reputation is an Enterprise Risk Management issue requiring enterprise-wide systems to protect it through educating talent and developing information from all silos, who then report to the Board . Steel City Re has solutions for reputation risk governance and enterprise-wide reputation risk management that empowers a firm’s risk management apparatus with policies, practices, procedures, communication tools, and indemnification instruments as well as knowledge of behavioral economics and how that factors in stakeholder satisfaction and Board preparedness when the inevitable crisis occurs.
Advisory Business Purpose
Reputation risk management can help mitigate the risk of an adverse event from blossoming into a full-blown reputational crisis while at the same time mitigating a reputational crisis from expanding and attracting the interest of activists, litigators, and regulators.
It can also increase situational awareness when cultural and social changes begin to shift and suddenly transform previously tolerated events into adverse events with reputational consequences..
Policies, practices, procedures, communication tools, and indemnification instruments that enable a company’s enterprise reputation risk management apparatus fulfill its mandate based on the following conceptual schema:
What’s your strategy?
Reputational risk is a concern for every company, organization or individual in corporate leadership. Let us help develop your strategy for reputational resilience.