This is another type of risk that is defined as the risk associated with changes in the perception that stakeholders (customers, stockholders, employees, etc.) have of the Group and its component brands. Credit, market and operational risk may generate reputational risk.
Reputational risk is analyzed and measured at the country level using methodologies developed by Corporate Internal Control and Operational Risk and by the Brand and Communication/Corporate Responsibility and Reputation units. Each country has a Corporate Responsibility and Reputation Committee to assess and oversee the management of this type of risk. However, the action plans themselves belong to the business and support units. At the same time, there is a Social, Environmental and Reputational Risk Committee in the parent company to manage this risk type at the Group level.