Are you ready to answer the call, when something goes wrong?
In the current issue of Directorship magazine, it was pointed out that management (and directors) may only have 5 minutes after an event before bloggers, tweeters, and the press start asking questions.
While it is necessary to appear in control and responsive, that doesn’t sound like much time to figure out what happened, let alone what the organization should do or what to tell the public.
I recommend reading an opinion piece in today’s Financial Times, then discussing the challenge with the executive leadership team and the board.
- Is it clear who can talk to the media, the government or regulators, bloggers and tweeters, etc?
- Are they adequately trained?
- Do you have procedures so that these people are notified of events quickly enough?
- Are you confident that you will have a message fast enough to preserve the organization’s reputation?
- Are your processes for notifying the top management and board well-defined and known? Will they be able not only to provide direction but also answer any questions directed to them?
Auditors: have you addressed this area? It could represent a major risk to the reputation of the business, potentially affecting customer demand, intrusion by regulators, etc.
Recent Posts on this Blog
- Risk in the Fourth Dimension January 15, 2017
- How much cyber risk should an organization take? January 7, 2017
- The real risks: the ones not in the typical list of top risks December 31, 2016
- An expert shares his views on the future of risk management December 18, 2016
- Selecting software to help manage user access risk December 17, 2016
- User access risk and SOX compliance December 12, 2016
- Risk and Culture December 9, 2016
- New guidance on operational risk December 3, 2016
- Why do so many practitioners misunderstand risk? November 26, 2016
- A new front opens in the SOX battle November 20, 2016
- Internal audit reports do the function a great disservice November 12, 2016
- My new book on Auditing that Matters is available November 9, 2016
- Time for a leap change in risk management guidance November 5, 2016
- Cyber security and the board October 29, 2016
- The biggest obstacle to effective risk management October 28, 2016
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