If you want to read only one report on social media and risk, I recommend Accenture’s whitepaper Comprehensive Approach to Managing Social Media Risk Compliance. You can download it here directly from Accenture. You can also watch a few videos from their team discussing the insights.
Their discussion follows exactly the same conversation path at the NYSE boardroom Summit two weeks ago.
The Accenture conversation:
“At issue here is the fact that traditional risk management policies and procedures were not designed for, quite literally, minute-by-minute monitoring of social media chatter to identify brand, strategy, compliance, legal, and market risks.”
One key takeaway: neither the NYSE Boardroom Summit nor the Accenture report make any judgments about “should I stay or should I go now” in regard to social media. Social media is a given now. The point is to have a senior level discussion about risks and policies.
Our recommendation for using social media without RegFD concerns can be found here.
Have a great day.
