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Church Benefits Association Annual Meeting

Church Benefits Association Annual Meeting. Linking ERM and Reputation Management December 3, 2008. Linking ERM & Reputation Management. “It takes many good deeds to build a good reputation, and only one bad one to lose it.” Benjamin Franklin. Linking ERM & Reputation Management.

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Church Benefits Association Annual Meeting

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  1. Church Benefits Association Annual Meeting Linking ERM and Reputation Management December 3, 2008

  2. Linking ERM & Reputation Management “It takes many good deeds to build a good reputation, and only one bad one to lose it.” Benjamin Franklin

  3. Linking ERM & Reputation Management Communications Workshop • Important Definitions • A few illustrative cases • Three tools for the journey • Open mike and discussion

  4. Linking ERM & Reputation Management Important Definitions • Reputation: the regard with which one is held by others • Reputation Management: the intentional efforts to impact perceptions of oneself • Reputation Managers: those who hold the organizational accountability for the perceptions of others • Risk Profile: an organization’s tolerance for risk • Reputational Risk Management:: an organizational approach to recognizing and proactively managing reputational assets

  5. Linking ERM & Reputation Management Reputational Risk Management: Case Study Audit Firms, in the Wake of Enron • Challenge: Effectively balancing the notions of ‘one bad apple’ and acceptable levels of new oversight. • Key Tools: LOTS of face-to-face communication; humbling interactions with regulators/legislative leaders. • Result: Consolidated, more focused audit organizations.

  6. Linking ERM & Reputation Management Reputational Risk Management: Case Study Southwest Airlines, 2005 • Challenge: Restoring confidence after a runway accident that killed a six-year old. • Key Tools: CEO public apology; high-profile efforts to explain operational changes / refunds; aggressive incentives to customers. • Result: Traffic and share price each recovered within days of the debacle.

  7. Linking ERM & Reputation Management Reputational Risk Management: Studies in Progress • Institutional Banks • Lehman Brothers • DeutscheBank • SEC • Federal Reserve • Congressional oversight committees

  8. Linking ERM & Reputation Management Tools for the Journey: Building Tolerance for Reputational Risk Awareness … Familiarity .. Preference

  9. Linking ERM & Reputation Management Tools for the Journey: Maintaining Perspective The Positioning Process Key Messages (Content) Organization & Brand Structure Investors Customers Employees Communities Governments Business Strategy Corporate Position Vehicles Identity (Design) Public Relations Public Affairs Reputation Management

  10. Linking ERM & Reputation Management Tools for the Journey: A Team Approach to Reputational Risk Management LiabilitiesAssets -investment performance +investment performance -select vendor relationships +select vendor relationships -regulatory infractions +customer recognition -negative publicity +positive publicity -low awareness +management visibility -management turnover +community engagement

  11. Linking ERM & Reputation Management Open Microphone / Discussion • What keeps YOU awake at night? • Do you have lessons learned to share?

  12. Linking ERM & Reputation Management Thank You

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