REPUTATIONAL RISK AND CRISIS MANAGEMENT
The shifting business environment is testing organizations across a whole set of new and emerging risks categories. This new risk landscape, coupled with greater uncertainty in the world, requires organizations to be prepared to deal with a wide range of crisis scenarios, and more intangible risk categories such as reputational harm. A company’s reputation is both one of its most valuable assets and one of the more challenging risk exposures to quantify. Organizations need to have a strategic action plan for how to protect their reputations and implement agile, pro-active crisis management.
Risk Cooperative has developed a suite of solutions helping organizations more accurately quantify their reputational risk, build a proactive crisis management and evaluation framework, as well as implement mitigation techniques. These services are aimed at helping organizations manage both their internal and external stakeholders as well as to strengthen their overall reputational resiliency.
Risk Cooperative and its strategic partners provide reputational risk and crisis management services to assist clients through every step of a potential crisis scenario. We work alongside our clients to develop, implement and sustain bespoke programs to meet each client’s varying and unique needs.
Our approach looks at a variety of key factors when helping organizations evaluate their reputational risk and mitigation strategies.
Enterprise Value at Risk | All too often, risk management approaches falter on their inability to offer precise measures of financial, economic or operational business impacts. Our model works to remove the ambiguity from intangible risks and emerging threats like reputational and other forms of risk to quantify the impact on reputation based on identified risks.
Benchmarking/Audits | As a first step to an engagement, benchmarking existing risk management frameworks helps establish a baseline for measurement, and ongoing improvement. This ties in directly to an organization’s risk appetite, tolerance and mitigation strategies.
Stress Testing | Running financial simulations for the potential economic consequences of supply chain disruptions will help organizations understanding the economic value at risk given various scenarios. This will also help establish the business case and expected return or resilience gained from supply chain risk management investments.
Risk Reduction Strategies | Enterprise Value at risk engagements include risk reduction strategies for retaining or transferring risk or or partially fund quantifiable risk exposures through hybrid structures.
Crisis Response Plan Design and Implementation | A critical aspect of crisis management is ensuring that an organization is prepared. We work with clients to develop customized crisis response plans that can be implemented across the enterprise. This enables management to respond to any crisis scenario, as well as prevent or mitigate a crisis event.
Crisis Response Training and Development | We provide company-wide training modules designed to test and reinforce crisis preparedness. From tabletop exercises to online training programs, our team is able to design and implement a robust training program that builds operational resiliency and readiness.