Welcome to the GEC Risk Advisory website. GEC Risk is a global governance, risk, integrity and reputation advisory firm providing strategic and tactical advice to boards, executives, investors and advisors around the world in multiple sectors including financial, utility, technology, infrastructure, think tank, academic and professional services.
Our singular focus is to help our clients transform their risks into opportunity and even value. We do this by providing a variety of services including strategic and enterprise risk management; risk-based crisis and scenario services; alignment of governance, risk and reputation with business strategy; evaluating and structuring global risk, ethics, compliance and corporate responsibility programs; and education including Transforming Risk into Value and Giving Voice to Values in the Boardroom workshops.
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NYSE Governance Services Inside Compliance Thought Leader Interview:
Part 2: “Reputation Risk, Crisis and Value Transformation”
To view Part 2: “Reputation Risk, Crisis and Value Transformation”
Click Here: Part 2
Part 1: “A Strategic Approach to Governance, Risk and Compliance”
To view Part 1: “A Strategic Approach to Governance, Risk and Compliance”
Click Here: Part 1
GEC Risk – Awards & Recognition
GEC Governance, Risk & Reputation Strategies
Achieving a sustainable culture of integrity that is also profitable and successful requires long term commitment by the CEO and the board as well as creative strategic risk management
In an article contributed to the December 2013 ECOA Connections Newsletter, Andrea Bonime-Blanc outlines how a sustainable and profitable culture of integrity can be achieved. Here are several excerpts (for the full article, download PDF here):
“We all know both from experience and viscerally that the success or failure of an ethics and compliance program — of an overall culture of integrity — begins and ends with our leaders and the tone they set at the top.
While we also talk about mood in the middle and buzz at the bottom, if one had to choose only one of these for importance, tone at the top wins the contest by a long shot…”
“…I would suggest a three-pronged analysis of your chances of being successful:
1. What’s Your CEO’s Integrity Culture? What is the style and tone of your CEO? Is he/she an “Irresponsible”, “Superficial”, “Responsible” or “Enlightened” leader? In my GlobalEthicist Column for Ethical Corporation Magazine “Take it From the Top” (http://bit.ly/11x7got), I distinguish four types of leader when it comes to ethics, compliance, corporate responsibility and risk management…”
2. “What’s Your Board’s Governance Posture? Is your board completely captivated by your CEO because she/he is also the chairman of the board? Or do you have a board that has independent directors, an autonomous audit committee and other effective corporate governance? If the former and it’s combined with an “Irresponsible” CEO…”
3. “What’s Your Company’s Strategic Risk Approach? How does your C-suite approach strategic risk? Does it go on acquisition sprees without the proper due diligence? Does it engage in third party supply chain relationships without the proper technological and governance framework? The more reckless…” (to view full article download PDF here).
“Leaders Turn Risk Into Competitive Advantage”
Switch & Shift TV Interview
Strategic risk and reputation management is critical – properly deployed and aligned, it can be turned into opportunity.
Andrea Bonime-Blanc, JD, PhD, is the founder and CEO of GEC Risk. She is a multi-industry, award-winning c-suite executive, board member, speaker and author, with two decades of diverse leadership experience in the private, public and non-profit sectors. She has served in the technology, media, infrastructure, manufacturing and professional services sectors as general counsel, chief ethics and compliance officer and head of enterprise risk management, corporate responsibility, internal audit, external affairs, environment, health & safety and strategic communications. She serves on several boards of directors and is Chair Emeritus of the Ethics & Compliance Officer Association. For further information, click here.
Ethical Corporation Magazine November 2013 Cover Story: The GlobalEthicist’s Column on Executive Whistleblowers.
GEC Risk Advisory – Global Supply Chain Governance Resources:
“Supply Chain Risk: What Companies Need To Know”. The GlobalEthicist October 2013 Column. Ethical Corporation Magazine.
By Andrea Bonime-Blanc, GEC Risk Advisory.
What does an outbreak of fungal meningitis in the US in 2012 have in common with the explosion of NASA’s Challenger shuttle in 1986? What does the recall of toxic toys have in common with a spate of suicides at a manufacturing facility? What does tainted baby formula have in common with the deadly collapse of a garment factory building?
There is a common thread that runs through these mostly tragic stories: the breakdown of supply chain risk management. In each case one or more components of the supply chain were not properly risk managed, resulting in terrible consequences.
There are all too many examples of the devastating consequences of overlooking supply chain risks. Get it right, and a company and its stakeholders can reap the benefits.
To read more, this article may be accessed here: http://bit.ly/H1fHRH
“The Changing Chinese Supply Chain: Building a Sustainable and Reputable Supply Chain in and out of China”. The Conference Board Executive Action Series. November 2013.
By Andrea Bonime-Blanc, GEC Risk Advisory, and Michael Hickman, Haiwen & Partners.
“We have all heard the horror stories: Chinese children falling ill or dying from infant formula; Chinese employees working under dangerous environmental, health, or safety conditions; and injuries in other parts of the world to people poisoned by harmful ingredients found in construction materials and household goods manufactured in China.
Everyone in the supply chain can be open to blame—from the defective raw material supplier to the manufacturer of the defective end product. In between there are the shop floor personnel who flaunt quality or safety practices, procurement departments without an adequate supply chain program or resources, lax safety or product inspectors, and boards of directors who don’t hold the CEO and management accountable.
This report highlights key legal and compliance trends affecting the Chinese supply chain and suggests risk and reputation management guidelines for a successful approach to this complex and multifaceted task. It is relevant for multinational companies (MNCs)—those in China, those selling products and services within China, and those whose supply chain originates in China for distribution outside of China.”
To read more, the report may be downloaded here
Transparency International Corruption Perceptions Index for 2014
The Reputation Risk Handbook: Surviving & Thriving in the Age of Hyper-Transparency By Andrea Bonime-Blanc
The Reputation Risk Handbook, called by the Wall Street Journal "the book on reputation risk”, provides a roadmap to understand, triangulate and deploy reputation risk successfully and profitably.
Click here to read the press release.
Click here to order.
New NYU Certificate on Corporate Compliance & Ethics Andrea Bonime-Blanc, Program Director & Adjunct Faculty & Jacqueline E. Brevard, Program Co-Director & Adjunct Faculty.
First live, one week, full time cohort successfully held at NYU’s NYC Midtown campus February 23-27, 2015.
For more information and to register for the next one week live program to be held June 22-26, 2015, in NYC please click here.
This Month’s Question:
“What elements should global oil and gas companies take into account to manage reputation risk and corruption risk? What are the necessary due diligence themes that need to be addressed to mitigate these risks?”
Submitted by Ingrid Lorena Dumas, Chief Compliance Officer of Ecopetrol, Colombia
Click Here to read
Click Here Zara.Maung@ethicalcorp.com to submit a question for next month
Awards & Recognition
Latest Resources & Thought Leadership
“Reputation Risk in the Age of Hyper-Transparency: What Leaders Need to Know”. Special Report. September 2014. By Andrea Bonime-Blanc and Llorente & Cuenca’s Jorge Cachinero.
“Implementing a Holistic Governance, Risk and Reputation Strategy for Multinationals: Guidelines for Boards & Executives”. Ethical Boardroom Magazine. September 2014. By Andrea Bonime-Blanc View Here
“Las Siete Virtudes Cardinales de la Responsabilidad Corporativa Inteligente”. Published in Spain’s leading business newspaper FT’s Expansion on June 9, 2014. By Andrea Bonime-Blanc and Murray Grainger. Download Here
Andrea Bonime-Blanc wrote the OpEd “Acerca del Management Reputacional” (About Reputation Management) for Argentina’s leading business newspaper, El Cronista, published on April 23, 2014. In it, she states that over a decade after the collapse of Enron, many companies don’t seem to have learned important lessons about risk and reputation management and proposes a triangular solution to preventing future scandals.
The Wall Street Journal referenced the Sports Business Journal piece by Andrea Bonime-Blanc on what companies can do to risk manage corruption at global sporting events: View the WSJ.com article here
“What Companies Must Know About Global Anti-Corruption Laws” outlines risk management steps companies doing business in major global sports venues such as Olympics and the World Soccer Cup in Russia and Brazil should take. By Andrea Bonime-Blanc To view please Click Here