3 Lines of Defense for Reputational Risk Management

As Warren Buffett once said, “It takes 20 years to build a reputation and five minutes to ruin it.”

Reputation equals integrity and integrity equals social responsibility. By sustaining the “social license to operate” through social responsibility, organizations ensure that business practices, operating procedures and corporate behaviors are acceptable to employees, stakeholders and the public.

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John Thackeray
Risk Documentation The $18 Million USD Mistake

I am no longer amazed by the missteps of any financial organization. The incentive policies and amalgam of personnel with widely differing views (borne out of previous financial organizations) can lead to a cocktail of disasters. Today, policies and standards seem to be written in a vacuum, only to see the light of day when regulators call. However, it appears we do have a benchmark: a well-understood policy is worth $18 million, plus costs, time and energy.

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John Thackeray
5 Step framework for Effective Fraud Risk Management.

There are now more reasons than ever to implement an effective fraud risk management framework for personnel in your organization. The focus on individual responsibility has dramatically altered and employees should now be educated as to the risks and repercussions, especially in the U.S. As a result of the memorandum titled “Individual Accountability for Corporate Wrongdoing” issued by former U.S. Deputy Attorney General (DAG) Sally Yates on September 9, 2015 —. What should an individual do when they suspect fraud or unethical behavior?

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John ThackerayRisk Smart inc