reputation risk

Why Do Most Organizations Avoid Quantitative Risk Assessment?

No ERM process that is effective at helping a company understand threats and opportunities to achieving objectives is going to just create a list of risks. While that may be sufficient for a regulator, it means absolutely nothing for helping executives run the organization better. After identification, companies then take the vital step of assessing…
Read More

Will the Wells Fargo Settlement Actually Result in Change?

In some of my prior articles on reputation and positive risk culture, I’ve sometimes referred to the ongoing Wells Fargo saga. From 2002 until coming to light in 2016, the company engaged in a variety of fraudulent activities. Unrealistic sales targets aggressively pushed by leadership led many employees to create thousands of bogus accounts. The…
Read More

Be Warned: Impacts from Cyber Attacks Not Fully Insurable

In speaking with clients or other organizations, I’m often astounded by the response I receive when I ask about cyber-attacks. Too often, the risk professional or executive I’m speaking with says something like this – “Oh, we have insurance coverage for that…” This is cringe-worthy, like fingernails on a chalkboard cringe-worthy to me. Black Board…
Read More

Reputation: A Standalone Risk?

You can’t place a high enough value on reputation in today’s world. And executives understand this, especially after high-profile scandals shook companies like United Airlines, Wells Fargo, and others to the core. A recent report shows that corporate reputation is now responsible for 38% of market capitalization for the Financial Times Stock Exchange (FTSE) 100…
Read More

Using an ERM Assessment Process to Understand Vendor Risks

Every organization – even my boutique consulting firm – has vendors who provide a range of products or services. These can include things as simple as Internet services and office supplies to data storage, software, and raw materials to manufacture a product, and more. Any disruptions with a vendor will inevitably spill over and impact…
Read More

The Board’s Role in Risk Oversight and Why It’s Important

A majority of articles here on the blog focus on the process of ERM for anyone involved in their organization’s strategy-setting and day-to-day operations. While learning about processes like risk identification, assessment, and reporting is important, there are other risk-related activities in the organization that are equally important, namely the oversight of risk by the…
Read More
Menu