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Reputational Risk Management in Financial Institutions

Reputational Risk Management in Financial Institutions

  • Author:
  • Publisher: Risk Books
  • ISBN: 9781782721017
  • Published In: November 2014
  • Format: Paperback
  • Jurisdiction: International ? Disclaimer:
    Countri(es) stated herein are used as reference only

List Price: HKD 2,247.50

HKD 2,180.08 Save HKD 67.42 (3%)

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    Editors Thomas Kaiser (KPMG and Goethe University) and Petra Merl (UniCredit Bank AG) have assembled a team of industry experts who provide an introduction into the brave new world of reputational risk in the financial industry. 

    Reputational Risk Management in Financial Institutions charts the history and evolution of this relatively new discipline, discussing how it is managed, mitigated, and in particular regulated. Readers will receive practical guidance regarding how to use best practice to implement a reputational risk management framework, thus both anticipating possible regulatory requirements and improving the decision-making process of the bank or financial institution at which they work.

    With the increase of regulatory scrutiny in this area (for example in the form of the Internal Capital Adequacy Assessment Process), the demand for a practical guide to the potential pitfalls of managing this very capricious and hard-to-quantify risk has increased. High profile events such as the London whale at JP Morgan and LIBOR rigging at RBS have led to greater scrutiny imposed on the reputation of banks and financial institutions. In Hong Kong the regulation of reputational risk has already been introduced, with the Hong Kong Monetary Authority issuing guidance in 2008 in the form of the HKMA Supervisory Policy Manual. Just recently in July 2014 the European Banking Authority issued their draft guidelines CP 14 on the supervisory review and evaluation process which asks for an explicit risk management process for reputational risk, linked to the operational risk management process.

    Reputational Risk Management in Financial Institutions provides illustrative case studies, tracing the history of this risk type, demonstrates best practice methodologies and processes for managing it, examines the changing regulation requirements and compliance issues, and discusses what the future holds for reputational risk in banks and financial institutions.

    Seasoned authors from UniCredit, UBS, EIB and a number of other leading banks, insurance companies, regulators, universities and consultancies cover topics such as:

    • The history of reputational risk
    • Corporate governance aspects of reputational risk
    • Risk culture and social risks
    • Business continuity in the context of reputational risk
    • Reputational risk management practices in banks and insurance companies
    • Public relations and perception
    • The regulatory response to reputational risk management

    Protecting reputation is now a significant component of risk management in banks and financial institutions, and can no longer be ignored.  Reputational Risk Management in Financial Institutions is an essential, holistic guide to the identification and mitigation of the risks that are now the responsibility of all industry players.


  • Introduction: Thomas Kaiser (KPMG and Goethe University) and Petra Merl (UniCredit Bank AG)

    PART 1: REPUTATION AND REPUTATIONAL RISK MANAGEMENT

    Reputational Risk: A Short Introduction
    David Shirreff

    What History Teaches Bankers about Reputation Management
    Richard J. Parsons

    An Asset–Liability View of Banks’ Reputation
    Sergio Scandizzo, European Investment Bank

    Reputational Risk in the Universe of Risks: Boundary Issues
    Hema Parekh

    Corporate Governance Changes Following Reputational Damage in the Financial Industry
    Ahmed Barakat, Nottingham University Business School

    PART 2: METHODOLOGIES AND PROCESSES FOR MANAGING REPUTATIONAL RISK

    Reputational Risk and Prudential Regulation
    Mattia L. Rattaggi, UBS

    Managing Stakeholder Expectations
    Sandra Dow, Middlebury College

    Environmental and Social Risks from the Perspective of Reputational Risk
    Nina Roth and Olivier Jaeggi, UBS and ECOFACT

    The Relationship between Reputational Risk Management and Business Continuity
    Alexander Klotz, Tibor Konya; Abtin Maghrour, UniCredit Bank AG; Transfer of Innovative and Integrative Management Solutions (tiim)

    Tracking Reputation and the Management of Perception at UniCredit
    Armin Herla, UniCredit

    PART 3: BEST-PRACTICE EXAMPLES

    Successful Recovery from Reputational Crises: Legitimate versus Illegitimate Risk Case Studies
    Steffen Bunnenberg, Bunnenberg Bertram Rechtsanwaelte

    Reputational Risk Management Across the World: A Survey of Current Practices
    Thomas Kaiser, KPMG and Goethe University

    Governance as the Starting Point for a Reputational Risk Management Process
    Carsten Steinhoff and Rainer Sprengel, Norddeutsche Landesbank and Portigon Financial Services

    Managing Reputational Risk in a Major European Banking Group
    Davide Bazzarello, UniCredit

    The Implementation of the UniCredit Group Approach
    Thomas Beil, UniCredit Bank AG

    Promotional Banks: An Introduction to Reputational Risk Management
    Heidi Rudolph, KfW Bankengruppe

    Reputational Risk Management in a Global Insurance Company
    Claudia Meyer and Maurice LeBlanc, Allianz SE

    Reputational Consequence Management: The Future
    Mike Finlay, RiskBusiness International Limited

  • Thomas Kaiser
    Thomas has been working in the risk management profession for more than 15 years. Through membership in several international and German banking organizations, he has been closely involved in the creation of the operational risk rules of the Basel II accord and their interpretation. Thomas is a director with the financial risk management practice at KPMG, and is responsible for operational and reputational risk management consulting projects across the globe. Together with Petra Merl, he has started a regular exchange of reputational risk management professionals of major German banks and insurance companies. Thomas is also honorary professor at Goethe University in Frankfurt, teaching risk management at graduate and executive level. He holds a master degree in business administration from Saarbrücken University and a PhD in financial econometrics from Tübingen University. Thomas is a professional member of the Institute of Operational risk and member of its German chapter’s inner circle.

    Petra Merl
    Petra has been working in the risk management profession for more than 15 years. Her career includes various roles in Risk Control, most of which were focused on counterparty and market risk control. She worked for Commerzbank AG and was Head of Market Risk in HypoVereinsbank AG, Milan. She joined the OpRisk community 3 years ago and has implemented the Reputational Risk Framework in HypoVereinsbank AG in 2012. Petra is a First Vice President with HypoVereinsbank AG, and is responsible for Operational and Reputational Risk Control in Unicredit Bank AG and has functional authority over all divisional Operational Risk Managers in the AMA Subgroup. Here responsibility encompasses governance, qualitative and quantitative aspects of those risk types. Together with Prof. Thomas Kaiser, she has started a regular exchange of reputational risk management professionals of major German banks and insurance companies, which also resulted in publications and conference presentations. Petra holds a Diploma in Mathematics and Business Administration from University of Regensburg. She is a professional member of the Institute of Operational risk and member of its German chapter’s inner circle. Petra is a Subject Matter Expert in the PRIMIA’s advisory group for Reputational Risk.

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