Reputational risk arises when the expectations of stakeholders (e.g. customers, shareholders, employees, investors) are not met and their reaction can adversely affect existing or new business relationships with them.
It is essential to understand the unique nature of such risks to manage them. They are unique because they depend on external assessments and can originate from a wide variety of sources, including other risks.
All employees are responsible for safeguarding the Bank’s reputation, guided by a number of professional conduct and ethics manuals. Therefore, training and awareness of all staff is crucial for creating a strong internal culture of prevention.
The Bank made several improvements to the management model over the course of 2020. Bankinter updated the stakeholder map and the repertoire of reputational risk events, and developed a global indicator for exposure to reputational risk.
The key to managing these risks lies on their prevention, identifying and controlling them proactively to reduce their probability of occurrence and mitigate their impact. The Bank has various tools at its disposal for this:
We use first and third-party cookies for analytical and statistical purposes and to show you personalised advertisements based on a profile compiled from your browsing habits (e.g. pages visited). For more information, click on our Cookie Policy. You can accept all cookies by pressing 'Accept' or personalise your choice by clicking on MANAGE OR REJECT COOKIES.