Financial services companies have never been under greater scrutiny – or suspicion. Business leaders in this sector must contend with new risks and expectations of performance.
The political and popular response to the global financial crisis led lawmakers and regulators to develop a new generation of regulation and legal oversight, intended to curb excess or wrongdoing. At the same time, an ever more financially literate public and media are constantly hungry for new stories.
Senior managers now need to understand risks beyond the modelling of projected returns. They must recognise the many different avenues from which risks can emerge, to affect corporate reputations and ultimately a company’s licence to operate – whether in wholesale or consumer markets.
Regester Larkin by Deloitte’s financial services team has helped some of the world’s leading organisations understand, meet and mitigate reputational risk. Having supported clients through issues and crises ranging from systemic economic collapse through to internal fraud, we are uniquely positioned to support organisations and teach financial services business leaders how to thrive by intelligently managing risk.
Our work in this area has included:
- Reviewing crisis management and crisis communications preparedness at a global bank.
- Developed a cyber response programme and carried out exercises with a leading insurer to build confidence in responding to major cyber incidents.
- Helping to redefine the culture and embedding behaviour change in a financial body following significant industry upheaval.
- Following a significant cyber-attack, we carried out a post-incident review with a financial services company to help them learn from and improve their response to cyber incidents.
- Designing, developing and implementing the processes and procedures for managing a major bank failure or financial crisis.
- Delivering media training and communications skills coaching for executives of one of the world’s largest bank groups.
- Testing crisis response through delivering crisis exercises for a leading insurance company.
- Worked with a financial services company to manage its operations and reputation during a ransomware attack.
- Providing strategic communication support to a leading investment fund during a controversial and highly politicised property divestment.
- Assisting the regional division of a global bank in a full audit of the company’s communications team, resulting in the team’s redefinition and development and a more strategic approach that better supported commercial objectives.
- Advising an investment fund on the reputation risks associated with proposed sector projects and deals.