Understanding Reputation Risk
Bruce Branson, Associate Director of the ERM Initiative at NC State University interviews Chrystina Howard, SVP and Senior Risk Consultant with Willis Towers Watson about how she has observed organizations deal with the concept of reputation risk. Chrystina defines reputation risk as a critical element of an organization’s strategy and brand equity. She acknowledges that directly managing reputation risk is a challenge because most often reputation risk arises due to the poor management of other risks. Chrystina does offer advice on how to include reputation risk as a dimension to evaluate during the risk assessment phase of an enterprise risk management process and offers some “first steps” to developing a better understanding of reputation risk for your organization.
