Barclays 2014 Annual Report Download - page 142

140 I Barclays PLC Annual Report 2014 barclays.com/annualreport
Risk review
Risk management
Reputation risk management
Roles and responsibilities
The principal responsibility for managing reputation risk lies with each
business and function and, firstly, with the individuals responsible for
making decisions that could impact Barclays’ reputation. There will,
however, be circumstances where it is necessary to escalate the
evaluation of the reputation risk associated with particular decisions
beyond an individual, business or function.
The Group’s businesses and functions escalate material reputation risk
issues to the Group Reputation Committee via their risk oversight
processes, which have a specified means of considering reputation-
related issues on an ad hoc basis as they arise (e.g. a reputation risk
sub-committee or equivalent). Issues may merit escalation due to: i)
the degree of risk involved; ii) the fact that the issue sets a significant
precedent; or iii) the fact that the issue impacts on more than one of
the Group’s businesses.
Each business (and function/region where appropriate) submits
quarterly KRI reports to the Group reputation risk team, highlighting
their most significant current and potential reputation risks and issues
and how they are being managed. Reputation risk reporting takes the
following forms:
Q Quarterly reporting of key reputation risks via Business Risk
Oversight Committees to Group Reputation Committee and CRRC
Q Six-monthly reputation risk horizon scan reports, including current
and emerging priority reputation risks to BCORR
Q Ad hoc review of identified reputationally controversial issues/
transactions/relationships by business reputation committees, with
escalation to Group Reputation Committee, where required.