JP Morgan Chase 2015 Annual Report Download - page 158

148 JPMorgan Chase & Co./2015 Annual Report
REPUTATION RISK MANAGEMENT
Reputation risk is the risk that an action, transaction,
investment or event will reduce trust in the Firm’s integrity
or competence by our various constituents, including
clients, counterparties, investors, regulators, employees
and the broader public. Maintaining the Firm’s reputation is
the responsibility of each individual employee of the Firm.
The Firm’s Reputation Risk Governance policy explicitly
vests each employee with the responsibility to consider the
reputation of the Firm when engaging in any activity. Since
the types of events that could harm the Firm’s reputation
are so varied across the Firm’s lines of business, each line of
business has a separate reputation risk governance
infrastructure in place, which consists of three key
elements: clear, documented escalation criteria appropriate
to the business; a designated primary discussion forum — in
most cases, one or more dedicated reputation risk
committees; and a list of designated contacts, to whom
questions relating to reputation risk should be referred.
Line of business reputation risk governance is overseen by a
Firmwide Reputation Risk Governance function, which
provides oversight of the governance infrastructure and
process to support the consistent identification, escalation,
management and reporting of reputation risk issues
firmwide.