Contingent damage through loss of reputation was inadequately captured by existing risk management systems. The risk taking capacity of a financial institution depends not only on its financial strength, but also on the quality of its risk management framework and the ability to capture all potential risk exposures, including non-financial risks.
Risks and challenges
- What high-risk areas require closer monitoring?
- How to effectively respond when a reputation crisis hits – all the way down to designating who communicates with whom?
- Are the consequences for our reputation of other risks materialising, well understood and managed?
How Deloitte can help
Deloitte can help increase awareness for reputational risk and manage this risk by assessing your key drivers and developing a reputational risk management framework.
Deloitte helps clients install a risk aware culture: ethics and values; allocate risk ownership and reward performance; promote coherence as the application of risk management practices.