Reputational Risk Management in Financial Institutions
First published:
ISBN: 9781782721017
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Managing Reputational Risk in a Major European Banking Group
Davide Bazzarello
Introduction
Reputational Risk: A Short Introduction
What History Teaches Bankers about Reputation Management
An Asset–Liability View of Banks’ Reputation
Reputational Risk in the Universe of Risks: Boundary Issues
Corporate Governance Changes Following Reputational Damage in the Financial Industry
Reputational Risk and Prudential Regulation
Managing Stakeholder Expectations
Environmental and Social Risks from the Perspective of Reputational Risk
The Relationship between Reputational Risk Management and Business Continuity
Tracking Reputation and the Management of Perception at UniCredit
Successful Recovery from Reputational Crises: Legitimate versus Illegitimate Risk Case Studies
Reputational Risk Management Across the World: A Survey of Current Practices
Governance as the Starting Point for a Reputational Risk-Management Process
Managing Reputational Risk in a Major European Banking Group
The Implementation of the UniCredit Group Approach
Promotional Banks: An Introduction to Reputational Risk Management
Reputational Risk Management in a Global Insurance Company
Reputational Consequence Management: The Future
A broad geographical presence was a major asset for UniCredit Group, as it could increase the diversification of risk and revenue. At the same time, managing reputational risk in a consistent way across the world posed many challenges and required a clear governance structure, an even stronger involvement of the senior management, clear group policies and guidelines as well as dedicated committees and defined information flows between different company functions on any type of decision taken with respect to reputational risk.
THE IMPULSE FOR REPUTATIONAL RISK MANAGEMENT
After the 2008 financial crisis, many market scandals were brought to light and tainted the reputation of all banks. The misuse and the aggressive selling of structured products, the subprime bubble in the USA, the intensive usage of derivatives, Libor-rigging investigations and top management compensation all put banks under huge pressure and scrutiny. In fact it was quite shocking for the public to realise that millionaire bonuses were paid out while the real economy was so gloomy, unemployment was surging, economic support from many banks was reduced as loan applications were rejected, and in some cases
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