Published on March 18, 2014
Reputation management and a corporate identity Communication Unlimited ComFest 13, Mumbai, October 17, 2013
Founded in 2000 Code of Ethics was approved in 2001, amended in 2008, 2013 Facilitated the official recognition of IR profession in Russia 5 Committees, “OSSI” IR Club, Working groups Reorganized in 2008, 2013 to merge 2 major IR-communities Member if GIRN IR-certificate and tutorial (book) in compliance with recommendations of the Global Investor Relations Network Comprises leading Russian stock exchanges, financial media, issuers, IR-professionals, etc Corporate governance General meeting BoD, Executive director, Secretariat No permanent staff Advisory Board, government officials and experts Financial Communications and Investor Relations Alliance
“Reputation: Risk of risks”? 0 10 20 30 40 50 60 Reputational risk (eg, events that… Regulatory risk (problems caused by… Human capital risks (eg, skills… IT network risk (eg, network security… Market risk (risk that the market… Credit risk (risk of bad debt) Country risk (problems of operating… Financing risk (difficulty raising… Terrorism Foreign exchange risk (risk that… Natural hazard risk (eg, hurricanes,… Political risk (danger of a change of… Crime and physical security How significant a threat do the following risks pose to your company’s global business operation today? index score, where 100 = highest © The Economist Intelligence Unit 2005 http://www.acegroup.com/eu-en/assets/risk-reputation-report.pdf
Risk factors review 0 20 40 60 80 Reputation is becoming a key source of competitive advantage as products/ services become less differentiated Faster dissemination of ‘bad news’ through global media/ communication channels Higher standards of governance imposed by regulators Customers readier and more able to switch suppliers than ever Increased willingness of governments to intervene in business on issues of public concern Customers‘ increased focus on buying from ethical suppliers Increased targeting of companies by pressure groups Other How large an impact is each of the following factors likely to have in prompting an increased focus on reputational risk within your company? % respondents, large impact, index score, where 100 = highest © The Economist Intelligence Unit 2005 http://www.acegroup.com/eu-en/assets/risk-reputation-report.pdf
FI Reputation Management Main reputational risk-factors Regulatory compliance, including anti money laundering Disclosure compliance Personnel Qualification Compliance “Know Your Employee” Rule Conflict of interest Negative perception of shareholders, counterparties, affiliates, related parties “Know Your Customer” Rule Role of Public Affairs in Reputation Management
Reputation Management Framework Purpose Strengthening reputation through timely measures against damages that may be due to reputational risks Tasks Identification, monitoring and assessment of reputational risk Control and (or) risk mitigation procedures Reporting rules Distribution of powers and responsibilities between the Supervisory Board, Management Board, Risk Management, Public Affairs and other structural units regarding the implementation of established principles of reputation risk management Control over the efficiency of reputation management. Role of Public Affairs in Reputation Management
Basel III Framework*: Reputational Risk Reputational risk can be defined as the risk arising from negative perception on the part of customers, counterparties, shareholders, investors or regulators that can adversely affect a bank’s ability to maintain existing, or establish new, business relationships and continued access to sources of funding Reputational risk, typically through the provision of implicit support, may give rise to credit, liquidity, market and legal risk – all of which can have a negative impact on a bank’s earnings, liquidity and capital position Bank management should have appropriate policies in place to identify sources of reputational risk when entering new markets, products or lines of activities. In addition, a bank’s stress testing procedures should take account of reputational risk so management has a firm understanding of the consequences and second round effects of reputational risk. •http://www.bis.org/publ/bcbs150.pdf •http://www.bis.org/bcbs/basel3.htm
contacts Ms.Olga Rink ARFI Executive director www.arfi.ru mailto: firstname.lastname@example.org Secretariat Address: 2/1 Tverskaya-Yamskaya street, Moscow, 127006, Russia Tel.: +7.495.250-89-13 Faximile: +7.495.251-44-47
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