Works Council
Based on the Dutch Works Council Act, each local Rabobank has its own Works Council to
discuss representation issues affecting that particular bank. The Local board of directors is
responsible for calling in the local Works Council adequately and promptly, both formally and
informally, when the situation or developments within the bank so warrant. The rights of the
local Works Council include the right to be informed, the right to be consulted, the right of
consent and the right of initiative.
In order to achieve the best possible employee representation, the local Works Council consults
with the chairman of the Local board of directors during Consultative Meetings. The general
state of affairs should be discussed in a Consultative Meeting on at least two occasions every
year. The local Supervisory Board or a delegation of this Committee is also represented in these
Meetings. The local Supervisory Board is also present during Consultative Meetings addressing
important consultative issues, or a planned appointment or removal of the chairman of the
Local board of directors.
Group Works Council of local Member Banks
The Group Works Council of Member Banks operates within the scope of the Dutch Works
Council Act as the central employee representative body of all the local Rabobanks that looks
after the interests of the local Rabobank's employees.
The Group Works Council of Member Banks has a say in the development of policies that affect
the local Rabobanks. With regard to issues requiring consultation or consent that impact most
or all Member Banks and are decided at central level, the Group Works Council of Member
Banks exercises the right to be consulted and the right of consent. In addition, the Group Works
Council of Member Banks supports the local Works Councils in their continuing development
and professionalisation, and educates, informs and advises them on current issues
and developments. The Group Works Council of Member Banks deliberates with the Executive
Board of Rabobank Nederland prior to the Central Delegates Assembly.
Rabobank Nederland
Rabobank Nederland was established to support the local Rabobanks' banking business.
It initiates and develops policies and products in many different areas, such as lending,
payments, securities services, customer service, marketing, distribution and human resource
policy. These policies are developed in close dialogue with representatives of local Rabobanks.
Besides a supporting role to the local Rabobanks, Rabobank Nederland also fulfils several other
roles. For example, it is a shareholder in several specialised companies, including De Lage Landen
and Rabo Real Estate Group. Rabobank Nederland also maintains its own banking business,
Rabobank International, operates in the international financial markets and is responsible for
managing the money market transactions and capital market transactions of Rabobank Group.
Rabobank Nederland supervises the local Rabobanks pursuant to the Dutch Financial
Supervision Act - this power is provided for in the Articles of Association of Rabobank Nederland
and the local Rabobanks. For example, Rabobank Nederland supervises the local Rabobanks in
the areas of prudent and ethical business operations, outsourcing, solvency and liquidity.
116 Annual Report 2013 Rabobank Group
