Inhoudsopgave Voorwoord Bestuursverslag Corporate governance Consolidated Financial Statements Company Financial Statements Pillar 3
edtf 5 Rabobank's Chief Risk Officer (CRO) is member of the
Executive Board and has no management or financial
responsibility related to any operational business lines or
revenue-generating functions. The CRO is responsible for
overseeing the development and implementation of the bank's
risk management function.This includes the ongoing
strengthening of staff skills and enhancements to risk
management systems, policies, processes, quantitative models
and reports as necessary to ensure the bank's risk management
capabilities are sufficiently robust and effective to fully support
its strategic objectives and all of its risk-taking activities.
The Supervisory Board is responsible for the supervision of the
Executive Board with regard to their execution of risk profile, risk
policies and risk management activities.The Supervisory Board
Risk Committee consists of members of the Supervisory Board
and supports the Supervisory Board in preparing its decision
making in relation to its supervision.
Rabobank has established different risk committees to monitor
and enforce Rabobank's risk management framework and
risk appetite. These risk committees are chaired by Chief Risk
Officers or other representatives of the Risk Management
function. The responsibilities of the risk committees are defined
in their respective Terms of Reference (ToR) which includes
members and modalities such as frequency, quorum and
decision-making process.
The Risk Management function is (voting) member in
a number of other committees such as the Asset Liability
Committee (ALCO) and the Liquidity Reporting Committee at
group level. Since the Risk Management function is not chairing
these committees, these are not part of the second line risk
management committee structure.
Risk Management Committee (RMC) Group
The RMC Group is mandated by the Executive Board to oversee
the implementation of the risk management framework for
Rabobank Group, to be the ultimate arbiter on the assessment
of risks and to act as the guardian of the risks taken by the bank.
RMC Group is amongst others responsible for advising the
Executive Board on the risk appetite statement of Rabobank
Group, enforcing Rabobank's risk appetite framework and
monitoring risk exposures against risk limits, and monitoring
the aggregated risk profile of Rabobank Group. The RMC Group
ensures the global risk framework is up to date, as required
by law and external regulations and internal regulations of
Rabobank.The RMC Group consists of three members from
the Executive Board, including the CRO, and representatives
of the Risk Management function, Finance Control and
Compliance (Chief Compliance Officer). The RMC Group reports
to Rabobank's Executive Board.
The RMC Group has delegated specific risk management tasks
to a number of sub-committees: risk position and content
committees.
Risk domain committees
- RMC Wholesale Rural Retail (RMC WRR) - for risks taken
byWRR.
- RMC Retail NL - for risks taken by Retail NL.
- RMC Ops IT - for risks taken in the Chief Operational
Officers'domain, with a particular focus on operational and
IT risks.
- RMCTreasury - for risks taken in financial markets and
treasury activities.
Risk content committees
- Regulatory Oversight Committee (ROC) - for regulatory
monitoring.
- Model Governance Committee (MGC) - for material model
risks, including capital models.
- Stress Testing Committee (STC) - for capital stress testing.
- Financial Economic Crime Committee (FECC)- for Financial
Economic Crime (FEC) activities.
- Country Limits Committee (CLC) - for country limits.
- ComplexTransactions Committee (CTC) - transactions or
products which may present a reputation risk because of its
complex nature.
Transactional committees
- Central Credit Committee Rabobank Group (CCCRG) - credit
proposals exceeding the authority of'lower'committees.
Credit Approvals Local Rabobanks (CA LB) -credit
proposals exceeding the authority of a Local Rabobank.
Credit Approvals Wholesale Rural Retail (CA WRR) -
credit proposals exceeding the authority of FGH, DLL or
a Wholesale Rural Retail (WRR) office.
- Credit Committee Financial Institutions (CCFI) -
transactions resulting in claims on a financial institution.
The counterparty risk limits on Fl are based on a proposal
by the Credit Fl department in cooperation with the
commercial departments concerned.
- Credit Committee Financial Restructuring
Recovery (CC-FR&R) - credit proposals for qualified
(Substandard, Doubtful, Loss) obligors.
- Loan Loss Provision Committee (LLPC) - development
of qualified credit and asset portfolios and provision for
obligors, directly advises the EB.
316 Rabobank Jaarverslag 2016
