ERM Summit in Las Vegas 2016
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Transcript of ERM Summit in Las Vegas 2016
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Linking reputation management, crisis management & business continuity
NOVEMBER 2016
Sean S. Murphy�CEO, LootokAndrew Miller�Executive in Training, Enterprise Risk Management , ADP
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Speakers
Sean Murphy�CEO & President Lootok
Andrew Miller�Executive in Training, Enterprise Risk Management ADP �
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What we will cover • Overview of the problem• Enterprise risk management• Reputation risk management• Crisis & business continuity management
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It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you'll do things differently. —Warren Buffet
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World numbers
220K Number of photos posted on Instagram per minute
300K
Number of tweets per minute
5B Number of daily Google
searches
80% Percentage of Americans
online
4.9 Average years of CEO tenure at Fortune-500
companies
2.5M Number of pieces of content shared every minute on Facebook
40-50 Average year lifespan of Fortune-500 companies
1.5B Number of people with pocket sized devices
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Our humble beginnings It took mankind roughly 24,000 years to produce 5 terabytes of data. (250,000 years of DVD quality video.
Venus of WillendorfCirca 22,000 BCE
First iPod2003
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Information comes of age
We now generate 5 exabytes of content every 2 days. (250,000 years of DVD quality video)
Today
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Most of the measures common in the practice of ERM can be placed in one of two categories: those measures related to the degree of the organization’s solvency, and those related to the volatility of the organization’s performance on a “going concern” basis. —Casualty Actuarial Society
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Integrated assurance
• Governance, Risk Management, and Compliance (GRC)
• Mergers, acquisitions, divestures
• Scenario Planning
INFLUENCE
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Reputational management … by the time a more conclusive picture of guilt or innocence emerges … the coverage has often moved on, leaving the original impression largely unrebutted.—Paul Farhi
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Reputational Terrain
Society Importance
Audience Interest DanielDiermeier
Low
Low
High
High
Facts
Analysis and Interpretation
Stories
Live Updates
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Business continuity Risk assessment 9 Rs
Relocate
Reassign
Repair/replace
Reinforce
Replicate
Redundancy
Risk transfer
Relinquish
Rapid
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Crisis cards
What do these words mean to you?• Crisis• Incident• Interruption• Disaster• Catastrophe• Disruption
What are the criteria for a crisis?• Public knowledge?• Injuries/fatalities?• Financial loss? What amount?
Fragments of blue plastic are found in your product in the morning. All product from the previous day’s production are still within your control.
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Prioritization activity
Attackers & defenders
Identify your most vulnerable high impact �equipment items using competitive strategies.
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Attackers
Instructions• Try to cause maximum damage
to the business by attacking three equipment items.
• Write your selections, why you chose these items and how you would attack them.
• When done, fold your card in half.
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Defenders
Instructions• Try to keep the business afloat
by choosing three equipment items to protect from the attackers.
• Write your selections, the strategies you would use, and your reasoning for doing so on the back of your defender cards.
• When done, fold your card in half.