The Group places great importance on reputational risk, and, considering the increased awareness on business ethics and the growing interest of investors in the measurement of intangible assets, has developed a model to actively manage its reputation with all stakeholders with a view to preventing and minimising potential negative effects. In this context the corporate values and the principles of conduct to adopt with stakeholders, expressed in the Group Code of Ethics, are an important reference for all personnel.
Intesa Sanpaolo's reputational risk governance model envisages that reputational risk management and mitigation are pursued through systematic and independent monitoring by the corporate structures and through transversal monitoring across the various departments, using a Reputational Risk Management process, by the Risk Management Head Office Department - in agreement with the Compliance Head Office Department in relation to compliance risks.
In order to strengthen risks’ monitoring, even in terms of organization, in July 2015 the Reputational Risk Office was set up within the Enterprise Risk Management Head Office Department, with the aim of ensuring a structured monitoring of reputational risk also through the integration and enhancement of the contributions provided by the various company functions.
The identification stage of the main critical areas uses the results of the corporate processes that assess the reputational component of compliance risk management, internal and external communication activities, monitoring of antitrust regulations, communications with investors and rating agencies, and the Corporate Social Responsibility function. In particular, the Corporate Social Responsibility Service makes available the results of two processes, the Sustainability Report management activities with stakeholder engagement and materiality analysis, and the activities associated with monitoring application of the Code of Ethics.