Contents Introduction Management report Appendices Corporate governance Consolidated Financial Statements Company Financial Statements
The roll-out of the renewed, multiyear-One
Bank project, Risk Control Framework
(RCF), will near completion by the end of
2018. Understandably, there is still work to
be done as we shift from working as
separate risk and compliance teams to a
much more global collaborative professional
customer focused organisation. Once firmly
embedded, with its systemic, consistent
and global approach to managing and
controlling operational risk and compliance
with simple policies, standards and a single
tool (Archer), RCF will drastically improve
the way businesses run and control their
activities.The CLR teams have also been
working to proactively managing risks
through various remedial efforts, legacy
files and new business developments.
Compliance made strides in revitalising the
compliance function globally. Thousands
of Rabobank employees received training
and education in fundamental compliance
risks. A systemic integrity risk assessment
(SIRA) was conducted to re-assess the bank's
core compliance risks and the 2018 plans
were defined for each major unit. For 2018,
specific focus points will be CDD and AML,
from front-to-back management of these
risks to monitoring and oversight.
We developed our team and organisation
further by centralising credit and financial
restructuring teams in the Netherlands.
We welcomed many newcomers to the
Compliance and ALM teams, and we
created flatter, less layered and more
diverse management teams. Our Young
Professional Programme attracts young
quants and other talent. Required
performance and professional standards
are high, while workload, careers and
engagement have our continued attention.
Teamwork is what counts.
We at Compliance, Legal and Risk welcome
the mission of'Growing a better world
together'with open arms. Further focusing
the Banking for Food and Banking for the
Netherlands strategies provides a clear
framework for assessing the risks we take
together as a global financial institution
in terms of how they affect our business
and our stakeholders: our customers,
employees, members, regulators, investors,
suppliers, government and the general
public. In short, society at large.
Finally, the expansion of the Managing
Board now puts all four client franchises
firmly at the helm. Given the people we
have on board and the course we've
plotted for optimum digitialisation, my
teams and I look ahead with confidence.
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