governance model also guarantees effective member influence. The members of local
Rabobanks have important powers under the Articles of Association through their banks'
Members council and General Meeting, for instance. An active and open dialogue with
customers and members via the Members Council and several panels helps to stay attuned to
the members' needs and keep a connection with the local service areas.
Local board of directors
Every local Rabobank has a local board of directors consisting of banking professionals, who
collectively conduct the bank's management. The local board of directors is appointed by the
local Supervisory Board, subject to the approval of Rabobank Nederland. 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' 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' management.
Members council
Customers 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
customers. They are familiar with the members'and customers'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.
Corporate governance
