Top risks and controls for Marketing

From the Doorstep International risk register, curated by Ahmer Nehal. Last updated 17 Oct 2026.

The Marketing register lists 31 key risks and 74 best-practice controls across 6 units: Brand Management, Digital Marketing, Events and Sponsorships, Market Research and Analytics, Product Marketing, Public Relations and Communications. Use it to identify risks, benchmark your existing controls or start a risk and control self-assessment (RCSA).

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An important factor in luring and keeping customers, promoting the bank's goods and services, and boosting profits is the marketing function.

The reputation, financial health, and regulatory compliance of the bank could all be adversely affected by marketing operations in the financial sector.

It is crucial that the marketing department undertake risk assessments in order to identify potential hazards and put in place the necessary controls and risk mitigation techniques.

By performing risk assessments, the marketing function can make sure that their operations are in line with the bank's risk appetite and compliance standards, all while preserving the bank's good reputation with its clients.

Brand Management: key risks and controls

In charge of maintaining the reputation and brand image of the bank and making sure that all marketing materials and communications adhere to the brand identity.

Risk	What can go wrong	Best-practice controls
Balancing local and global brand identities	Commercial banks often have a global presence but also need to maintain a local brand identity that resonates with customers in different regions. Brand managers need to find the right balance between maintaining a consistent global brand identity while also adapting to local market conditions and cultural nuances.	Develop a Comprehensive Branding Strategy: A comprehensive branding strategy that takes into account the unique cultural nuances and market conditions of each region can help to strike a balance between maintaining a consistent global brand identity and adapting to local markets. The strategy should also be flexible enough to allow for changes as market conditions and customer preferences evolve over time. Conduct Market Research: To better understand local market conditions and cultural nuances, banks should conduct extensive market research in each region where they operate. This research should include gathering customer feedback and analyzing customer behavior to identify areas where the bank's branding strategy needs to be adapted. Build Strong Local Teams: To successfully adapt to local market conditions and cultural nuances, banks need to build strong local teams. These teams should have a deep understanding of local customer preferences, market conditions, and cultural norms, and should be empowered to make decisions that are in line with the bank's overall branding strategy. By empowering local teams, banks can ensure that they are able to maintain a consistent global brand identity while also adapting to local markets.
Competition	Commercial banks face intense competition from other banks and financial institutions, which can make it challenging to differentiate their brand and stand out in the market. Brand managers need to develop innovative strategies to help their bank stand out, such as by developing unique product offerings or by leveraging new technologies.	Product Differentiation: One of the most effective controls to mitigate the risk of intense competition is by focusing on product differentiation. This involves developing unique product offerings that set the bank apart from competitors. By offering innovative and tailored products or services, a bank can attract customers and create a distinct brand identity in the market. Technology Adoption: Another crucial control is the strategic adoption of new technologies. Banks can leverage technology to enhance customer experiences, improve operational efficiency, and develop competitive advantages. Embracing digital channels, implementing mobile banking solutions, utilizing data analytics, and exploring emerging technologies such as artificial intelligence and blockchain can help banks differentiate themselves and stay ahead in the market.
Digital transformation	The banking industry is rapidly evolving, with digital technologies transforming the way that customers interact with their banks. Brand managers need to be aware of these changes and develop strategies that take advantage of new opportunities while still maintaining the bank's brand identity.	Continuous Market Research and Customer Insights: To effectively mitigate the risk associated with the rapidly evolving banking industry, brand managers should prioritize continuous market research and gathering customer insights. By closely monitoring market trends, technological advancements, and customer preferences, brand managers can stay ahead of the curve and identify new opportunities. This control enables them to develop strategies that align with the evolving landscape while maintaining the bank's brand identity. Agile Strategy Development and Implementation: The banking industry's rapid evolution requires brand managers to adopt an agile approach to strategy development and implementation. This control involves regularly reassessing and updating the bank's strategic initiatives to align with emerging technologies and customer expectations.
Regulatory restrictions	Commercial banks operate in a highly regulated environment, and this can limit the scope of their brand management activities. For example, banks may be restricted in their use of certain marketing channels or messaging that could be considered misleading or deceptive.	Regulatory Compliance Framework: Implementing a robust regulatory compliance framework is crucial for banks to ensure they adhere to all applicable laws and regulations governing marketing and brand management. This control involves closely monitoring and interpreting regulations, understanding the limitations imposed on marketing channels and messaging, and proactively aligning marketing activities with legal requirements. Maintaining compliance with regulations helps banks avoid potential fines, penalties, and reputational damage. Clear Internal Policies and Procedures: Establishing clear internal policies and procedures regarding brand management activities is essential. These guidelines should outline acceptable marketing channels, messaging standards, and disclosure requirements. By clearly defining what is allowed and what is not, banks can ensure that their marketing efforts stay within the boundaries of the regulations. It is important to communicate these policies to all employees involved in brand management and regularly train them on compliance. Additionally, implementing a system for monitoring and reviewing marketing campaigns and materials can help identify any potential deviations from the established policies and take corrective actions promptly.
Reputation management	The reputation of a commercial bank is crucial to its success, and any negative publicity or perceived mismanagement can have significant consequences. Brand managers need to be proactive in managing the bank's reputation by closely monitoring customer feedback, responding to complaints, and addressing any issues that arise.	Implementing a comprehensive Customer Feedback Management System: This control can help in monitoring and analyzing customer feedback, including complaints and reviews, to identify any issues that customers are facing. By promptly addressing and resolving these issues, the bank can demonstrate its commitment to customer satisfaction and improve its reputation. Developing a Crisis Management Plan: A crisis management plan outlines the procedures to be followed in the event of a crisis, such as a data breach, fraud, or any other event that may negatively impact the bank's reputation. A well-prepared crisis management plan can help mitigate the damage caused by a crisis, and quickly restore the bank's reputation. Conducting regular Training and Awareness Programs: Regular training and awareness programs can help employees understand the importance of maintaining a positive reputation and how to identify and respond to potential reputation risks. This can include training on social media etiquette, customer service, and crisis management. Effective training and awareness programs can help employees become proactive in managing the bank's reputation and prevent negative publicity.

Digital Marketing: key risks and controls

Responsible for creating and implementing digital marketing plans, such as search engine optimisation, email marketing, and social media marketing.

Risk	What can go wrong	Best-practice controls
Competing with Other Banks	Commercial banks face stiff competition from other banks in the digital marketing space. The marketing department must develop unique and innovative strategies to stand out from the competition and attract and retain customers.	Market Research and Analysis: Conduct thorough market research and analysis to identify the target audience, understand customer preferences and behavior, and gather insights on competitors' strategies. This will help the marketing department develop unique and innovative strategies based on data-driven decision-making. Customer Segmentation and Personalization: Segment the customer base to identify distinct groups with specific needs and preferences. Use this segmentation to personalize marketing campaigns and deliver tailored messages and offers to different customer segments.
Compliance with Regulations	Commercial banks are subject to strict regulations regarding the use of customer data and marketing practices. Marketing departments must ensure that all digital marketing activities comply with these regulations, such as the General Data Protection Regulation (GDPR) and the CAN-SPAM Act.	Robust Data Governance Framework: Implementing a comprehensive data governance framework is crucial for ensuring compliance with regulations such as the GDPR and the CAN-SPAM Act. This control involves establishing policies, procedures, and guidelines for handling customer data, ensuring data accuracy, privacy, and security. It includes data classification, access controls, data retention policies, and regular data audits. Employee Training and Awareness Programs: Educating bank employees, especially those working in marketing departments, about the relevant regulations and best practices is vital.
Data Privacy and Security	Commercial banks collect and store a large amount of customer data, which is sensitive and must be protected. Digital marketing strategies involve the use of customer data, which can be vulnerable to cyber-attacks and data breaches. Therefore, it is the responsibility of the marketing department to ensure that all customer data is secure and protected from unauthorized access.	Encryption and Access Controls: Implement strong encryption mechanisms to protect customer data both at rest and in transit. Utilize robust access controls to limit access to sensitive data to authorized personnel only. This includes role-based access control, strong authentication methods, and regular access reviews. Regular Security Audits and Assessments: Conduct regular security audits and assessments to identify vulnerabilities in the systems and processes used to collect and store customer data. This includes penetration testing, vulnerability scanning, and risk assessments to proactively identify and address potential weaknesses.
Integration of Channels	Digital marketing involves the use of various channels, such as social media, email marketing, and search engine marketing. It can be challenging for the marketing department to integrate these channels and ensure that they are consistent in messaging and branding.	Develop a comprehensive digital marketing strategy: A well-defined digital marketing strategy can provide a roadmap for integrating various channels, defining messaging and branding, and setting goals and KPIs. A good strategy should consider the target audience, the organization's strengths and weaknesses, and the competitive landscape. The strategy should be regularly reviewed and updated to ensure it remains relevant. Implement a centralized digital asset management system: A digital asset management system can help ensure consistency in branding and messaging across different channels. It can store digital assets such as logos, images, videos, and other marketing materials in a central location, making it easier for marketers to access and use them. It can also enforce branding guidelines and track the use of assets across different channels. Provide training and support for the marketing team: It's essential to invest in the training and development of the marketing team to ensure they have the skills and knowledge to execute the digital marketing strategy effectively. This includes training on specific digital marketing tools and platforms, as well as training on messaging, branding, and content development. The marketing team should also have access to support and resources to help them stay up-to-date on the latest trends and best practices in digital marketing.
Keeping Up with Trends	Digital marketing is constantly evolving, and new trends emerge regularly. The marketing department must stay up-to-date with the latest trends and technologies to ensure that their digital marketing strategies remain effective and relevant.	Continuous Monitoring and Analysis: Regularly monitoring and analyzing the latest trends and technologies in digital marketing is the most effective control. By staying up-to-date with the industry, the marketing department can identify emerging trends early on and make informed decisions about incorporating them into their strategies. This control ensures proactive adaptation and minimizes the risk of falling behind. Training and Development: Investing in training and development programs for the marketing team is crucial to keep them equipped with the knowledge and skills needed to navigate the evolving digital marketing landscape.
Measuring ROI	Digital marketing campaigns must be monitored and evaluated regularly to determine their effectiveness. Measuring the ROI of digital marketing campaigns can be challenging, as it requires tracking multiple metrics and analyzing data from various sources.	Establish clear metrics and goals: The first and most important control is to establish clear metrics and goals for digital marketing campaigns. This should be done before any campaign is launched, and should include specific metrics that will be tracked to determine the success of the campaign. This will help ensure that the right data is being collected and analyzed, and will help to focus efforts on the most important areas. Use automated tools for data collection and analysis: The second control is to use automated tools for data collection and analysis. There are a variety of tools available that can help collect data from various sources and analyze it to determine the effectiveness of digital marketing campaigns. These tools can save time and resources, and can provide more accurate and reliable results than manual methods. Regularly review and adjust campaigns: The third control is to regularly review and adjust digital marketing campaigns based on the data collected. This should be done on an ongoing basis, with regular reviews of metrics and goals to determine if campaigns are meeting their objectives. Based on this analysis, adjustments can be made to improve the effectiveness of campaigns and ensure that ROI is being achieved.

Events and Sponsorships: key risks and controls

Accountable for organising and carrying out sponsorships and events that support the promotion of the bank's name and goods, as well as for calculating the return on investment from such initiatives.

Risk	What can go wrong	Best-practice controls
Ensuring compliance	Financial institutions are subject to regulatory requirements, and there may be specific guidelines around sponsorships and events. It's important to ensure that all activities are compliant with regulations.	Regulatory Compliance Program: Implementing a comprehensive regulatory compliance program is the most effective control to mitigate this risk. The program should include policies, procedures, and guidelines that clearly outline the requirements for sponsorships and events. It should also incorporate regular monitoring, reporting, and internal audits to ensure ongoing compliance with regulations. This control helps to minimize the potential for violations and associated penalties. Internal Approval and Review Process: Establishing a structured internal approval and review process is crucial to mitigate the risk. This control involves creating a clear and documented process for evaluating sponsorship and event opportunities. It should involve multiple levels of review, including legal and compliance teams, to ensure compliance with regulatory guidelines. By implementing a robust approval and review process, financial institutions can avoid engaging in activities that could lead to regulatory non-compliance.
Identifying the right events/sponsorships	It can be difficult to identify the most appropriate events and sponsorships that align with the bank's brand and business objectives.	Clear policies and guidelines: Developing clear policies and guidelines can help mitigate the risk of choosing inappropriate events and sponsorships. The policies should include criteria for selecting events and sponsorships, such as alignment with the bank's brand and business objectives, potential return on investment, and reputation risk. Robust due diligence process: Conducting a thorough due diligence process can help the bank identify the most appropriate events and sponsorships. This process should include assessing the reputation and financial stability of the event or sponsorship organization, evaluating the expected ROI, and verifying that the event or sponsorship aligns with the bank's brand and business objectives. Regular monitoring and evaluation: Regularly monitoring and evaluating the bank's events and sponsorships can help identify any issues or concerns and take appropriate actions. The bank should set up a process to regularly review the performance of events and sponsorships against the criteria set out in its policies and guidelines, and take corrective action if necessary. This can help ensure that the bank is aligning its events and sponsorships with its brand and business objectives.
Managing budget	Sponsorships and events can be expensive and require a significant budget. It can be challenging to allocate funds effectively and ensure that ROI is achieved.	ROI Analysis and Budget Allocation: Conducting a detailed analysis of the return on investment (ROI) of potential sponsorships and events can help determine which ones are most likely to provide the highest ROI. This analysis should include factors such as attendance, brand exposure, and lead generation potential. By allocating budget based on this analysis, organizations can ensure that they are spending their funds effectively and maximizing their ROI. Contract Negotiations: Negotiating favorable terms with sponsors and vendors can help reduce the overall cost of sponsorships and events. This can include negotiating lower rates for event space, food and beverage, and other services. Additionally, negotiating for longer-term contracts can help lock in pricing and reduce the risk of unexpected cost increases. Monitoring and Reporting: Monitoring the progress and success of sponsorships and events in real-time can help identify areas where adjustments can be made to improve ROI. By using reporting tools and metrics, organizations can gain insights into attendee behavior, engagement, and overall satisfaction. These insights can then be used to optimize future sponsorships and events, ensuring that budget is being allocated effectively.
Managing logistics	Organizing and managing events and sponsorships can be complex and time-consuming. It's important to have a strong project management team in place to ensure that everything runs smoothly.	Establish a Robust Project Management Framework: Implementing a comprehensive project management framework is crucial for effectively organizing and managing events and sponsorships. This includes defining clear project objectives, roles, responsibilities, timelines, and deliverables. Adopting proven project management methodologies, such as Agile or Waterfall, can help streamline the process and ensure smooth execution. Employ Experienced and Competent Project Managers: Having a strong project management team with the right expertise is essential for successful event organization.
Measuring ROI	Measuring the effectiveness of sponsorships and events can be challenging. It's important to have clear objectives and metrics in place to measure the impact on brand awareness, customer engagement, and revenue.	Clear Objective Setting: Clearly defining the objectives of sponsorships and events is crucial. This control involves setting specific, measurable, achievable, relevant, and time-bound (SMART) objectives. By establishing clear goals, you provide a framework for measuring effectiveness and evaluating success. Metrics and KPIs Selection: Selecting the right metrics and key performance indicators (KPIs) is essential for measuring the impact on brand awareness, customer engagement, and revenue. This control involves identifying the most relevant and meaningful metrics that align with your objectives.

Market Research and Analytics: key risks and controls

Accountable for carrying out market research to determine the requirements and preferences of customers and for applying data analytics to assess the success of marketing initiatives.

Risk	What can go wrong	Best-practice controls
Analyzing data	Once data has been collected, it needs to be analyzed in order to gain insights that can inform marketing strategies. This can involve using statistical tools and techniques, as well as machine learning algorithms, to identify patterns and trends in the data.	Access Control: Limiting access to data and analysis tools to only authorized personnel can greatly reduce the risk of unauthorized access, manipulation, or misuse of sensitive data. Data Encryption: Encrypting data both in transit and at rest can help protect it from unauthorized access or interception. This includes encrypting data in storage and when it is being transferred over networks. Regular Audits: Conducting regular audits of data usage and analysis activities can help detect and prevent unauthorized access or misuse of sensitive data. Auditing can also help identify vulnerabilities in the system and inform improvements to the security posture.
Ensuring data security	Financial institutions are subject to strict regulatory requirements around data security and privacy. It's important to ensure that all data is collected, stored, and analyzed in compliance with these regulations.	Data Encryption: Implementing strong encryption techniques for data at rest and in transit is crucial to safeguard sensitive information. Encryption protects data from unauthorized access and helps ensure compliance with regulatory requirements. It involves encoding data in a way that can only be deciphered by authorized individuals or systems with the appropriate decryption key. Access Controls and User Authentication: Establishing robust access controls and user authentication mechanisms helps prevent unauthorized access to sensitive data. This involves implementing strong password policies, multi-factor authentication (MFA), and role-based access control (RBAC).
Gathering reliable data	One of the biggest challenges in market research and analytics is gathering reliable and accurate data. This can involve collecting data from a variety of sources, such as customer surveys, social media, and industry reports, and ensuring that the data is both reliable and relevant.	Data validation processes: Implement data validation processes to ensure that the data collected from various sources is complete, accurate, and consistent with the information obtained from other sources. This control can involve the use of algorithms, data analytics tools, and human oversight to detect any errors, inconsistencies, or anomalies in the data. Data quality checks: Perform data quality checks on a regular basis to identify and correct any errors or inaccuracies in the data. This can include verifying the accuracy of the data against external sources, checking for missing or incomplete data, and ensuring that the data is formatted consistently. Use of experienced analysts: Employ experienced analysts who are well-versed in the techniques and methodologies of market research and analytics to review and analyze the data collected. This control can help ensure that the data is both relevant and reliable by applying advanced analytical techniques, ensuring that the data is relevant to the research questions, and detecting any errors or inconsistencies in the data.
Integrating data from different sources	Marketing departments often have access to data from a variety of sources, including customer data, website analytics, and social media metrics. It can be challenging to integrate and analyze this data in a meaningful way in order to gain insights that can inform marketing strategies.	Data Governance Framework: Implementing a robust data governance framework is essential for effective data management. This control involves establishing clear policies, procedures, and guidelines for data collection, storage, access, and usage. By defining data ownership, ensuring data quality, and establishing data integration standards, organizations can minimize data inconsistencies and facilitate the integration and analysis of marketing data. Data Integration and Management Tools: Investing in advanced data integration and management tools can significantly streamline the process of integrating and analyzing marketing data.
Keeping up with new technologies	The field of market research and analytics is constantly evolving, with new technologies and techniques emerging all the time. It's important for marketing departments to stay up-to-date with these developments in order to remain competitive.	Continuous Professional Development (CPD): Encourage marketing professionals to engage in ongoing training and development programs to stay updated with the latest market research and analytics technologies and techniques. This can include attending conferences, workshops, webinars, and pursuing relevant certifications. By investing in CPD, marketing departments can ensure their teams have the necessary knowledge and skills to remain competitive. Collaboration and Networking: Foster a culture of collaboration and networking within the marketing department and across the organization. Encourage knowledge sharing and cross-functional collaboration to stay informed about emerging technologies and techniques.

Product Marketing: key risks and controls

Accountable for creating and promoting the bank's goods and services to clients through a variety of channels, including direct marketing and advertising.

Risk	What can go wrong	Best-practice controls
Changing Customer Needs	Customer needs and expectations are constantly evolving, and it can be challenging to keep up with these changes. As a product marketer, you need to be able to anticipate and respond to these changes quickly, and ensure that your products and services meet the evolving needs of your customers.	Continuous Market Research and Customer Insights: Regularly conducting comprehensive market research and gathering customer insights is crucial to understanding evolving needs and expectations. This control involves analyzing customer feedback, conducting surveys, interviews, and focus groups, and monitoring market trends. By staying connected to your customers and the market, you can proactively identify changes and adjust your product marketing strategies accordingly. Agile Product Development and Iterative Testing: Implementing an agile product development approach allows for faster iterations and frequent testing of new features or improvements. This control involves using methodologies like Scrum or Kanban to enhance collaboration, prioritize customer-centric development, and iterate based on feedback. By involving customers in the testing process, you can validate assumptions and ensure your products meet their evolving needs before full-scale launch.
Complex Products and Services	Banking products and services can be complex, and it can be challenging to explain them to customers in a way that is easy to understand. You need to be able to simplify complex concepts and communicate them clearly to customers, while also highlighting the benefits of your products and services.	Product Simplification and Standardization: The most effective control is to simplify and standardize banking products and services. By streamlining and consolidating product offerings, banks can reduce complexity and make it easier for customers to understand the options available. This involves designing products and services that have clear and straightforward features, terms, and conditions. Customer-Centric Communication: Adopting a customer-centric approach to communication is crucial for mitigating complexity.
Highly Regulated Industry	The banking industry is highly regulated, and this can make it challenging to promote certain products and services. You need to ensure that your marketing campaigns comply with all relevant regulations, which can be complex and time-consuming.	Implement a compliance management system (CMS): A CMS is a framework that enables banks to effectively manage their regulatory compliance processes. It involves policies, procedures, and processes that are designed to ensure that the bank complies with relevant laws and regulations. Implementing a CMS will help the bank identify and assess compliance risks, develop and implement controls to mitigate those risks, and monitor and report on compliance. Develop a comprehensive marketing compliance program: This program should include guidelines and policies for all marketing and advertising activities, including social media and digital marketing. It should also include a process for reviewing and approving marketing materials, ensuring they comply with applicable laws and regulations. By having a comprehensive program in place, banks can ensure that their marketing campaigns are compliant and reduce the risk of non-compliance. Conduct regular training and awareness programs: Regular training and awareness programs can help employees understand the regulations that apply to their role and how to comply with them. This can include training on marketing compliance requirements, as well as general compliance training. By ensuring that employees are well-informed and up-to-date on compliance requirements, banks can reduce the risk of non-compliance.
Intense Competition	The banking industry is highly competitive, and there are many other banks and financial institutions vying for the same customers. This means you need to work hard to differentiate your products and services from those of your competitors, and find ways to make your marketing messages stand out.	Product Differentiation: Developing unique and innovative products and services is the most effective control to differentiate your bank from competitors. Conduct market research to identify customer needs and preferences, and tailor your offerings accordingly. Focus on creating features, benefits, or pricing structures that set your products apart and provide a competitive edge. This control not only attracts new customers but also helps retain existing ones. Effective Marketing Strategy: A well-planned and targeted marketing strategy is crucial for getting your message across to potential customers.
Limited Marketing Budget	Marketing budgets in the banking industry can be limited, and you may need to work with limited resources to promote your products and services effectively. This means you need to be creative and resourceful, and find ways to get the most out of your marketing budget.	Prioritize and focus on the most impactful marketing channels: In order to make the most out of the limited resources, it is important to identify the marketing channels that are most effective in reaching the target audience and generating leads. For instance, if your target audience is young adults, social media platforms like Instagram or TikTok may be more effective than traditional advertising channels like television or print media. Utilize data-driven marketing strategies: By leveraging data and analytics, you can optimize your marketing efforts and make informed decisions on how to allocate your resources. For example, you can use customer data to segment your audience and tailor your marketing messages to specific groups, or use A/B testing to experiment with different marketing strategies and measure their effectiveness. Partner with other businesses or organizations: Collaborating with other businesses or organizations that share your target audience can be an effective way to reach a wider audience with limited resources. For example, you can partner with a local university to offer financial literacy workshops for students, or collaborate with a fintech startup to offer joint promotions to their customers. This can help you leverage the resources and reach of your partners to promote your products and services effectively.

Public Relations and Communications: key risks and controls

Accountable for creating and putting into effect public relations and communications strategies, as well as managing the bank's interactions with the media and other external stakeholders.

Risk	What can go wrong	Best-practice controls
Balancing marketing objectives with public relations goals	While marketing and public relations often have similar objectives, they also have distinct goals and strategies. PR and communications professionals must strike a balance between promoting the bank's products and services while also ensuring that the bank's messaging aligns with its broader public relations goals and objectives.	Clearly defined brand guidelines and messaging: Develop comprehensive brand guidelines that outline the bank's values, mission, and desired image. These guidelines should provide clear instructions on how to align marketing and communication efforts with the broader public relations goals. Consistency in messaging will help maintain a cohesive brand identity. Cross-functional collaboration and communication: Foster a culture of collaboration between marketing and public relations teams. Encourage regular communication, sharing of goals, and collaboration on campaigns and initiatives.
Handling crisis communications	Banks can be vulnerable to various crises, such as cyber attacks, fraud, or other issues that can threaten the bank's reputation and customer confidence. PR and communications professionals must be prepared to handle these situations swiftly and effectively to minimize the negative impact on the bank's brand.	Incident Response Plan: Develop an incident response plan that outlines the steps to be taken in case of a crisis. This plan should include specific procedures for addressing cyber attacks, fraud, and other issues. The incident response plan should be tested and updated regularly to ensure that it is effective and up-to-date. Security Controls: Implement appropriate security controls to prevent cyber attacks and fraud. These controls should include firewalls, intrusion detection systems, access controls, and encryption. Regular security assessments should be conducted to identify vulnerabilities and ensure that the security controls are working as intended. Employee Training: Provide regular training to employees to ensure that they are aware of the risks associated with cyber attacks, fraud, and other issues. This training should include how to identify and report suspicious activity, how to follow the incident response plan, and how to communicate with customers and the media during a crisis.
Maintaining customer trust	Public trust is critical for any financial institution, and any misstep in communication or messaging can quickly erode that trust. PR and communications professionals must be skilled at crafting messaging that is both accurate and clear, while also being sensitive to the concerns and needs of their target audience.	Clear and consistent messaging guidelines: The most effective control to mitigate the risk of eroding public trust due to miscommunication or messaging is to establish clear and consistent messaging guidelines. These guidelines should specify the appropriate language, tone, and messaging for different target audiences and situations. Additionally, they should be regularly reviewed and updated to ensure they remain relevant and effective. Robust training programs: Another effective control is to establish robust training programs for PR and communications professionals. These programs should cover a range of topics, including effective messaging techniques, crisis management, and media relations. Regular training and skills assessments can help ensure that professionals are up-to-date on best practices and able to respond quickly and effectively to changing circumstances. Monitoring and feedback mechanisms: Finally, monitoring and feedback mechanisms can be an effective control to mitigate the risk of eroding public trust. This can include regular surveys and focus groups to gauge public perceptions of the institution and its messaging, as well as real-time monitoring of media coverage and social media activity. This feedback can help identify potential issues early and enable the institution to respond quickly and effectively.
Managing the brand's reputation	A bank's brand reputation is crucial to its success, and PR and communications professionals must be vigilant in monitoring and managing the bank's reputation across various channels, including social media, news outlets, and other online platforms.	Robust Social Media Monitoring and Engagement: Social media platforms play a significant role in shaping public perception and can quickly amplify negative sentiments. Implementing a comprehensive social media monitoring system can help identify and address potential reputation risks promptly. Regularly monitoring brand mentions, engaging with customers, and promptly addressing any issues or concerns can help maintain a positive brand image. Crisis Communication Plan: Develop a comprehensive crisis communication plan that outlines the steps to be taken in the event of a reputational crisis. This plan should include a designated crisis management team, predefined messaging, and communication channels to ensure a swift and coordinated response. Regularly review and update the plan to adapt to changing circumstances and emerging risks.
Regulatory compliance	Banks are heavily regulated, and any communication that could be construed as misleading or deceptive could result in serious consequences. PR and communications professionals must be well-versed in the rules and regulations governing financial institutions and ensure that all messaging is compliant with these regulations.	Robust Compliance Training and Education: The most effective control measure to mitigate the risk of misleading or deceptive communication is to ensure that PR and communications professionals are well-versed in the rules and regulations governing financial institutions. This can be achieved through comprehensive compliance training programs that educate employees on the regulatory requirements specific to the banking industry. By providing them with the necessary knowledge and understanding, they can better navigate the compliance landscape and ensure that all messaging is compliant. Clear and Consistent Internal Communication Guidelines: Establishing clear and consistent guidelines for internal communication is crucial in mitigating the risk of misleading or deceptive communication. These guidelines should outline the regulatory requirements and expectations regarding communication practices within the organization.

This register is a starting point for risk identification and benchmarking against international practice. Adapt the risks and controls to your institution's size, products, jurisdiction and regulatory requirements.

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Frequently asked questions

What are the key risks in Marketing?

The main risk areas covered are Brand Management, Digital Marketing, Events and Sponsorships, Market Research and Analytics, Product Marketing, Public Relations and Communications. Each unit lists its key risks with a short explanation and the best-practice controls that mitigate them.

How do I use this register for a risk and control self-assessment?

Select the risks that apply to your units, map the listed controls to the controls you actually operate, rate inherent risk and control effectiveness, then agree actions for gaps. The free RCSA workbook on this page has the columns ready.

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