We have an unwavering commitment to operating at high standards in every jurisdiction. Any lapse in standards of integrity, compliance, customer service or operating efficiency represents a potential reputational risk.
What is reputational risk?
Reputational risk is the risk of failure to meet stakeholder expectations as a result of any event, behaviour, action or inaction, either by HSBC itself, our employees or those with whom we are associated, that may cause stakeholders to form a negative view of the Group.
How do we manage reputational risk?
Our risk appetite encapsulates consideration of reputational risks, and the responsibilities and procedures for identifying, assessing and escalating reputational risks. Our policies ensure reputational risk matters are managed in a globally consistent manner and align with the Group’s strategic priorities. They also define the control and oversight standards to effectively manage reputational risk and are supported by procedures across our global businesses and functions.
What is our governance around reputational risk management?
The governance of our reputational risk management is integrated into the Group’s broader risk governance framework. The Group Chief Risk and Compliance Officer is the risk steward for reputational risk. The Group Reputational Risk Committee, chaired by the Group CRO, is the formal governance committee established to provide recommendations and advice to the Group’s senior management on reputational risk and customer selection matters that either present a serious potential reputational risk to HSBC, or merit a Group led decision.
Formal governance committees exist at global, regional and/or country levels across the Group’s global businesses to provide recommendations and advice on customers/transactions and non-customers (e.g. third parties) and wider reputational risks.
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