The Local board of directors operates under the supervision of the local Supervisory Board.
The Local board of directors has a balanced composition in order to make its management
more effective based on complementarity.
Supervisory Board
The members of the local Supervisory Board are nominated by the local Supervisory Board and
appointed by the Members council, subject to the approval of Rabobank Nederland. One of the
duties of the local Supervisory Board is to supervise the local Rabobank. This includes the Local
board of directors's policies and the general conduct of business at the cooperative and its
operations. Key management decisions are subject to the approval of the local Supervisory
Board. The local Supervisory Board also monitors compliance with internal and external rules and
regulations. The local Supervisory Board is responsible for appointing, evaluating, suspending
and removing the members of the Local board of directors. Finally, the local Supervisory Board
and Local board of directors of the local Rabobankjointly represent the local Rabobank as
member of Rabobank Nederland in the Regional Delegates Assembly.
The local Supervisory Board is comprised of people with a variety of experience, competencies
and backgrounds. This ensures that checks and balances are maintained and creates a sound
balance between banking professionals and professionals from other backgrounds. Rabobank
Nederland offers local supervisory directors a continuous professional education programme
that allows them to improve their knowledge of the organisation, maintain their professionalism
and share their experiences.
Local Supervisory Boards are accountable to the Members Council for their supervision of the
Local board of directors's management.
Members Council
Clients can become involved in their local Rabobank by becoming a member.This gives them
influence and control over the future of their local Rabobank. The members represent the
clients.They are familiar with the members' and clients' wishes and considerations, and know all
about the local service area and (local) public opinion.
Each local Rabobank has a Members council, which is meant to provide a firm and structural
footing for member control and member influence. A Members council is a delegation of 30 to
50 members elected by the members from their ranks. As such it is a cross-section of the local
service area. The Local board of directors asks the Members council to assess its policies in order
to tailor its service offering as much as possible.The Members council influences and monitors
the direction of the local Rabobank and forms the link towards the bank's broad member base.
The Members council typically adopts the financial statements and appoints the members of the
local Supervisory Board. Members councils also tend to be involved in selecting local projects
qualifying for cooperative dividend. Cooperative dividend comprises all investments in, and
expenditures on, improving the local economic, social and cultural environment, including
sustainability initiatives.
General Meeting
The General Meeting of a local Rabobank decides on major issues that impact the local
Rabobank's continuity.The Members council exercises all other powers.
115 Corporate governance
