Contents Introduction Management report Appendices Corporate governance Consolidated Financial Statements Company Financial Statements
Risk Committee of the Supervisory Board
General responsibilities and duties
The responsibilities and duties of the Risk Committee are described in the Rules of Procedure of the Risk Committee of the Supervisory Board of Rabobank on ra bobank.
com. The Risk Committee prepares the Supervisory Board's decision-making regarding the supervision of the integrity and quality of Rabobank's development and
implementation of the risk governance framework, risk control system and risk appetite. This entails, among others, reviewing and effectively challenging Rabobank's
risk analysis scenarios and promoting risk awareness within a strong risk culture.
The Risk Committee discusses the financing structure and the policy regarding the adequacy and allocation of capital, liquidity and the short-term and long-term
funding in the light of the business strategy and the risk governance framework adopted. Furthermore, the Risk Committee monitors the working of the product
approval process, studies the process and outcome of the annual Internal Capital Adequacy Assessment Process (ICAAP) and the Internal Liquidity Adequacy Assessment
Process (ILAAP), reviews stress-test programme results and examines the risks associated with Rabobank Group's remuneration policy.
Facts figures
Memberson31 December 2017
Jan Nooitgedagt, chair (86%)
Leo Degle (100%)
Leo Graafsma (100%)
Ron Teerlink (100%)
Pascal Visée (100%)
Other attendees throughout the year
Regular attendees:
Wiebe Draijer, Petra van Hoeken, Bas Brouwers
Chief Audit Executive, Rudi Kleijwegt
Deputy Chief Audit Executive, Dick Duit
External auditors of PwC, Peter van Mierlo and
Jeroen de Jonge
Other members of the Supervisory Board frequently attended the meeting as Other frequent attendees (on relevant topics):
observers Other members of the Managing Board
Chief Compliance Officer, Angelique Keijsers
Meetings
During 2017 the Risk Committee convened seven times, with over 95% attendance. In the months April and May, Leo Degle temporarily took over the position as chair
of the Risk Committee while Jan Nooitgedagt's availability was limited for some time.
Three sessions on continuing professional education were held with the members of the Supervisory Board's audit committee (see overview below on educational
efforts).
Topics
Regular topics of discussion
Pillar 3 report;
Capital plan the Capital Management Framework;
Internal Capital Adequacy Assessment Process (ICAAP);
Internal Liquidity Adequacy Assessment Process (ILAAP);
Balance Sheet Management Mandate;
Group Risk Policy (update);
Risk Governance Risk Committee Structure;
Group Integrated Risk Assessment (top risk analysis and mitigating factors);
Group Risk Appetite Risk Appetite Statements for the upcoming year;
Risk Charter;
Integrated Risk Report (Quarterly);
Group Risk appetite statement;
Special topics
At the request of the Risk Committee, special attention was paid to several markets and sectors in 2017 (e. g. Commercial Real Estate). The risk committee intensively
discussed the status and actual developments regarding some files (e. g. interest rate derivatives, and the development of legal risk) and studied periodical reports
on data management and data quality. The Risk Committee monitored the introduction of the new Risk Control Framework (RCF), and the strengthening of the three
lines of defence model. The risk committee also discussed the result of various risk-related on-site assessments conducted by ECB/DNB, the SREP risk assessment,
Pillar 3 and the outcome of Risk Management's self-evaluation of the risk management function (including an operational audit performed by Internal Audit on the risk
management function).
Additional comment
On 17 January 2017, the JST attended a meeting of the risk committee as an observer in the context of the second Thematic review on risk governance and risk appetite
(RIGA II).
Quarterly reports on Credit, Operational Risk, Legal and Compliance;
CLR performance report (Quarterly).
Global Policies (IRRBB, Capital Management, Volcker Rule, Swap Dealer, Capital
Stress Test, Model Risk, Credit Risk)
Global Compliance Policies (Market abuse, Col, Anti-Corruption, Client integrity
(CDD/AML/Sanctions).
Reports on specific types of risk, such as credit risk, market risk, model risk,
operational risk and interest rate scenarios;
Semi-annual risk disclosure;
Risk Culture, and
Risk Oversight Committee - Regulatory Heatmap and
Recovery and Resolution Planning.
Rabobank Annual Report 2017 - Corporate governance
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