Importance In recent years, there is an increased attention on the part of scientists and practitioners to the issue of the business reputation management of the market actors. For the banking sector, the reputation and reputational risks are of particular importance. The management of these risks requires ensuring of its anticipatory strategic nature, which can be achieved through the implementation of the effective marketing communication policy. The issues of formation and maintenance of a positive image and a high level of business reputation of the Russian banking became the subject of the study. We have explored the potential of marketing communication policy as an effective way to manage the reputational risks of the commercial banks. Objectives In order to identify the trends, the traditional and new reasons for enhancing the profile of the banks' reputational risks, we have identified the relationship between the reputational risks and the Russian banks competitiveness in the conditions of the WTO membership. We proved that the bank's effective marketing communication policy under the conditions of its strategic and anticipatory nature creates the conditions for improving the competitiveness of banks. We have formulated the principles of banking communication policy of the reputation risk management. Methods On the basis of the concepts of general and banking marketing, methods of rating and qualitative assessments of its feasibility, elements of comparative and statistical analysis, we have identified the most effective approaches to the management of the banking reputational risks on the basis of the marketing communication policy. Results The standard methods of the reputational risks fail to yield long-term results, since such policy means only countering the risks, instead of their management. The marketing communication policy can provide the proactive impact. In the conditions of the Russia's accession to the WTO, the communication policy can be realized at interbank and intra-bank levels. For the first level, we defined the development of consolidation bank communication policy on the basis of the offered criteria of efficiency and development of directions. For the second level, we have formulated the principles of formation and realization of marketing communication policy of commercial banks. Conclusions and Relevance We arrived at a conclusion that only the development of the marketing communication policy at the two levels (interbank and intra-bank ones) can improve the competitiveness of Russian banking structures in terms of the Russian membership in the WTO, which will allow to perform less risky entry in international markets.
Keywords: business reputation, reputational risk, banking business, bank image, marketing communication, banking innovation
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