{"id":13799,"date":"2024-03-01T16:11:35","date_gmt":"2024-03-01T21:11:35","guid":{"rendered":"https:\/\/steelcityre.com\/?p=13799"},"modified":"2024-03-01T16:11:39","modified_gmt":"2024-03-01T21:11:39","slug":"efficient-interconnected-risk-management-strategic-risk","status":"publish","type":"post","link":"https:\/\/steelcityre.com\/2024\/03\/01\/efficient-interconnected-risk-management-strategic-risk\/","title":{"rendered":"March 1, 2024"},"content":{"rendered":"\n

Efficient Interconnected Risk Management<\/h1>\n\n\n\n

Reputation risk management is an efficient strategy for interconnected risk. “Risk interconnectivity \u2014 the interdependence of various risks, illustrating how one risk can affect or amplify others across systems \u2014 is of growing concern to global risk managers. […] Andrew Chung, litigation, arbitration and investigations partner at Linklaters, said the key enterprise risks that are top of mind for clients today are interconnected. He explained: \u201cWe are seeing how risks across financial crime, cyber, ESG and energy transition, digital transformation and AI, and geopolitics including supply chain and sanctions all have common elements and data, so now require an enterprise-wide and holistic lens more than ever, to properly manage the risks.\u201d<\/p>\n\n\n\n

Click on the image above to read more<\/strong> (No Paywall).<\/p>\n\n\n\n

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Reputation risk management is
an efficient strategy for interconnected risk.<\/strong> <\/em><\/p>Strategic Risk: March 01, 2024<\/cite><\/blockquote><\/figure>\n<\/div>\n\n\n\n

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Steel City Re\u2019s strategic tools help risk managers build corporate resilience by predicting<\/a> reputation risk, protecting<\/a> enterprise value, and promoting<\/a> risk management. We help risk managers manage risk <\/a>and add value across Boardrooms, C-Suites, and operational silos through reputation resilience.<\/p>\n\n\n\n

Reputation is Mission-Critical<\/strong><\/h2>\n\n\n\n

Today\u2019s sophisticated risk managers are strategic corporate talents, helping the C-suite and board meed stakeholder expectations for resilience. They know that enterprise damage from reputation risks might be their greatest and longest lasting peril, so they monitor for red flags. They foster a culture that respects those warnings and facilitate processes to mitigate those risks. Their diligence strategically builds enterprise-wide resilience that informed stakeholders can appreciate, and they use insurance two ways: operationally, to foster resilience; and strategically, to authenticate their thoughtful risk management and dutiful governance systems.<\/p>\n\n\n\n

The results of strategic reputation risk management are evident in reputation resilience. More than crisis recovery, they include customers buying, not boycotting; employees working, not fleeing; investors buying, not selling; lenders adjusting interest rates down, not up; regulators deferring, not enforcing; and social license holders acquiescing, not protesting.<\/p>\n\n\n\n

Having a robust Reputation Resilience Program in place offers, amongst other benefits<\/a>:<\/p>\n\n\n\n