Stakeholder Engagement

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Our success largely depends on strong relationships with our stakeholders. To develop and maintain these relationships, we must build trust and engage in two-way communication with our stakeholder groups. We must be transparent in our words and actions and actively listen and respond to their questions and concerns.

In addition to actively communicating with our stakeholders, we regularly monitor PNC and financial industry media coverage and social media conversations, which allows us to better gauge PNC’s reputation in all of the regions in which we operate. Furthermore, our 2015 materiality analysis helped us to confirm which issues are most important to PNC and our stakeholders, and subsequently, where we should better focus our resources and attention.

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How We Engage with Our Stakeholders

Employees

Channels & Frequency:

35 corporate town halls per year
Pre- and post-corporate town hall surveys
Annual employee engagement surveys, including the employee Net Promoter Score, which measures an employee’s likelihood of recommending PNC as an employer
Daily articles and regular videos and employee polls published on PNC News Online (intranet) and Just for Managers (an intranet page dedicated to managers), both of which allow readers to rate content
PNC News Online feedback mailbox
PNC’s online collaboration network, which includes but is not limited to forums, blogs, wikis, communities, microblogging and file sharing
Annual surveys (through PNC’s materiality analysis, among other initiatives)

Key Topics & Concerns Raised:

Benefits
Development opportunities
The company's leadership

PNC's Response:
Our benefits are competitive with those of our peers and position the company for future growth. We always are listening to our employees and work hard to recognize and reward their accomplishments. We provide numerous development tools and opportunities to help employees at all levels grow their careers at PNC. We also provide managers with the tools and resources they need to drive business results, manage risk and develop diverse teams. Our Leadership standards, which chart the course for every PNC manager and select individual contributors, set clear expectations and hold managers accountable to certain behaviors that ensure that PNC meets the demands of a dynamic business environment.

Customers

Channels & Frequency:

Daily interactions on social media
Daily interactions on PNC Live Chat
Daily customer transaction surveys
Quarterly qualitative research, including focus groups, ideation sessions and one-on-one interviews
Daily phone calls facilitated by PNC Customer Care
Interviews (through PNC’s materiality analysis, among other initiatives)

Key Topics & Concerns Raised:

Account servicing
Customer service
Data privacy
Product & Services features/benefits

PNC's Response:
Concerns raised through our customer interactions are regularly monitored and tracked, and are appropriately managed by dedicated teams that follow specific processes and procedures to respond to and resolve issues. Concerns raised through our Office of the Customer are addressed and/or shared with the appropriate business leaders for final resolution.

Communities

Channels & Frequency:

Community Development Banking team
Daily emails and phone calls
Dedicated websites for various community programs (PNC Legacy Project, PNC Grow Up Great, etc.)
Interviews (through PNC's materiality analysis, among other initiatives)
Regular evaluations to identify program successes and areas for improvement
Occasional focus groups to help research and develop educational materials, messages and strategies
Occasional surveys to measure the effectiveness of educational materials that were created to benefit school readiness

Key Topics & Concerns Raised:

Revitalizing our urban cores, where people increasingly want to live and work, remains a topic of interest in the communities we serve. PNC is frequently approached to provide financial and civic support for programs that ensure equitable development benefitting lower-income residents and quality of life, including the arts, culture, and economic and workforce development.

PNC's Response:
Feedback received through PNC’s evaluations and interviews, among other channels, impacts grant and programming decisions. PNC consults both its own and outside experts when solutions may involve financial services. For example, after Hurricanes Harvey and Irma affected Gulf of Mexico and Florida coasts, PNC offered mortgage assistance for customers in communities designated as federal disaster areas.

PNC Community Development Banking also convenes regional advisory councils comprised of local community and bank leaders to discuss the needs of low- and moderate-income households and communities. These discussions often drive PNC’s support of community initiatives, project financing and product and services enhancement.

Shareholders

Channels & Frequency:

Quarterly earnings materials and conference calls
Investor conferences and presentations
Investor meetings
Annual meeting of shareholders
SEC filings
Investor outreach

Key Topics & Concerns Raised:

Interest rates and financial markets
Economic environment
Positive operating leverage
Loan growth
Expense management
Capital and liquidity management
Tax legislation
Technology
Credit quality
Regulatory environment
Competition
Operational risk

PNC's Response:
We regularly and proactively communicate and facilitate a clear understanding of the company's strategic direction and resulting financial performance. We seek to understand and address our shareholders' interests and concerns in a timely manner through our public written and verbal shareholder communication channels.

Government

Channels & Frequency:

Ongoing dialogue by senior leaders with regulators and federal, state and local government officials
Regular interactions through Government Relations and Regulatory Affairs teams
Participation in government-sponsored events and initiatives
PNC's Executive Committee and Regional Presidents organization, which regularly communicate with government officials
Participation in government outreach activities arranged by industry groups, including the American Bankers Association

Key Topics & Concerns Raised:

Capital and financial strength
Availability of, and fair access to, credit and banking services
Community reinvestment
Compliance with laws and regulations, including the laws governing money laundering and terrorist financing

PNC's Responses:
PNC maintains strong capital and liquidity positions. We provide businesses and consumers across our geographies access to a wide array of competitively priced lending and deposit services. We maintain robust, enterprise-wide fair lending, Bank Secrecy Act, Anti-Money Laundering, sanctions and consumer compliance programs. PNC Bank received an "Outstanding" rating under the Community Reinvestment Act.

Suppliers

Channels & Frequency:

Daily emails and phone calls
Quarterly, annual and biannual meetings where business leaders and executives meet with suppliers
PNC's Supplier Diversity Portal
Interviews (through PNC's materiality analysis, among other initiatives)
PNC's Enterprise Third-Party Management program

Key Topics & Concerns Raised:

The key concerns raised by our suppliers relate to the legal terms and conditions contained in PNC Master Agreements. Specifically, the insurance levels and indemnification language that PNC and other large companies typically require of their suppliers may be unnecessary, irrelevant or challenging for smaller suppliers and engagements. Suppliers also voice concerns regarding the due diligence and ongoing monitoring activities they must complete prior to and while working with PNC.

PNC's Response:
In response to suppliers' concerns, PNC has created a short-form agreement that addresses lower-risk and lower-spend engagements whereby PNC can satisfy its risk mitigation obligations with less onerous terms and conditions. This new agreement has made it easier for small businesses to contract with PNC.

Furthermore, while our third-party due diligence activities are in large part dictated by federal regulation, we work closely with our suppliers to assist them through this process.

Non-Governmental Organizations

Channels & Frequency:

Interactions on social media
Daily/weekly emails and phone calls
Regular meetings
PNC employees' service on community Boards of Directors

Key Topics & Concerns Raised:

NGOs are most concerned with raising capital and better serving their communities.

PNC's Response:
We often respond by providing time and financial resources.

Recognized for our Efforts

Corporate Awards & Recognition

Employer of Choice

50 Most Engaged Workplaces™, Achievers (2018)
Most Admired for HR, Human Resource Executive magazine (2018)
50 Happiest Companies in America, CareerBliss (2018)

Diversity & Inclusion

Gender-Equality Index (BFGEI), Bloomberg (2019)
A. Leon Higginbotham Corporate Leadership Award, National Lawyers' Committee for Civil Rights (2018)
Top 50 Employers, CAREERS & the disABLED magazine (2019)
Top 70 Companies for Executive Women, National Association for Female Executives (2019)
100% Score on the 2018 Disability Equality Index ® (DEI®) Best Places to Work™
The Most Powerful Women in Banking and Finance, American Banker (2018)
50 Best Companies for Diversity, Black Enterprise magazine (2018)
Best Companies to Work for Women, Women's Choice Award® (2018)
Best Places to Work for LGBTQ Equality, Human Rights Campaign (2018)
Top Financial Companies, Professional Woman’s magazine (2018)
America’s 2018 “Best-of-the-Best” Corporations for Inclusion, National Gay & Lesbian Chamber of Commerce (NGLCC) and National Business Inclusion Consortium (NBIC) (2018)
100 Best Companies for Working Mothers, Working Mother magazine (2018)
Best Companies for Dads, Working Mother magazine (2018)
50 Best Places to Work for New Dads, Fatherly (2018)
Top Supplier Diversity Programs, Black EOE Journal (2018)
Top Employer, Black EOE Journal (2018)
Top LGBT Friendly, Black EOE Journal (2018)
Best Places for Women & Diverse Managers to Work, DiversityMBA Magazine’s 50 Out Front Companies for Diversity Leadership (2018)
Best of the Best for Top Disability-Friendly Companies, DIVERSEability magazine (2018)
Top Financial/Banking Companies, Hispanic Network magazine (2018)
Top 1000 Company Worldwide for Millennial Women, Mogul (2018)
Best Companies to Work for Multicultural Women, Women's Choice Award® (2018)

Military & Veteran Support

Best of the Best Top Veteran-Friendly Companies, U.S. Veterans Magazine (2018)
Top Veteran Friendly Supplier Diversity Programs, U.S. Veterans magazine (2018)

Community Investments

Outstanding Community Reinvestment Act Rating
Silver Halo Award, Engage for Good (2018)
Laurie D. Zelon Pro Bono Award, Pro Bono Institute (2018)
Corporate Social Responsibility Leadership Award, Financial Services Roundtable (2017)
Corporate Citizenship Award, Pittsburgh Business Times (2017)

Environmental Sustainability

100 Most Sustainable Companies, Barron’s (2018)
Leader in Climate Disclosure, Carbon Disclosure Project (2017)

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