About this Report Chairman's Foreword Corporate Management Report Appendices Governance Consolidated Financial Company Financial Statements Statements Outstanding loans In millions of euros Outstanding Loans (in On December 31,2018 Bas Brouwers 0.5 2.6 Kirsten Konst 0.2 4.6 Bart Leurs 0.9 2.1 Mariëlle Lichtenberg 1.4 3.9 Berry Marttin 0.1 5.8 Jan van Nieuwenhuizen 1.2 2.0 JanineVos 0.9 2.3 Individual Certificates Some members of the Managing Board have personally invested in Rabobank Certificates, these are listed below: Certificates of Members of the Managing Board Number of Rabobank Certificates On December 31,2018 Kirsten Konst 800 Mariëlle Lichtenberg 2,370 Domestic Banking Executive Positions The levels below the Managing Board are referred to as'executive positions'. At year-end 2018 229 employees were in an executive position, of which approximately 7% were classed as expats working abroad on a Dutch contract.This number is slightly lower than in 2017. Similar to 2016 and 2017, the fixed pay remuneration packages for executives were based on job grades, based on Hay points and accompanying salary ranges, ranging from executive position scale one to five. Only a select number of the executive positions are eligible for variable remuneration, dependent on the type of work and on the type of business in which they operate, for example in specific commercial roles. The majority only receives a fixed salary. Furthermore, Rabobankoffers an attractive package of secondary employment conditions, such as opportunities for learning and development and a car lease arrangement. The maximum paid sabbatical period in 2018 was two months.The Rabobank pension scheme, a collectively defined contribution plan, applies to the executive positions. The maximum income for pension accrual was EUR 99.384 as of January 1, 2018. Executives receive an individual pension contribution according to the level of their position. Domestic Banking - CLA Employees At year-end 2018 26442 employees were employed under the terms of the CLA of Rabobank, including Obvion. The remuneration package for position scales 1 to 11 and Senior Staff A and Senior Staff B consists of fixed income, the Employee Benefit Budget (EBB), and pension and fringe benefits. The position scales in the Rabobank CLA are based on the Hay Group's system for evaluating jobs. In 2018 there was no collective salary adjustment. Salary progression within a position is based only on the PM results over the previousyear, based on individual contribution,on behaviorand on personal development. In 2018, the salary increases based on the new GROW! System came into effect. Since 2013, the CLA does not include eligibility for variable pay. In October 2018 all employees received a one-time payment of 1% of their fixed annual compensation as agreed in the CLA. The median remuneration for Rabobank employees in the Netherlands at the end of 2018 was EUR 54,835 which gives a ratio of 1:17.88 between the median remuneration and the Chairman of the Managing Board. In 2017, the median remuneration was EUR 52,342 and the ratio was 1:18.73. The Rabobank CLA pension scheme is a collective defined contribution scheme. The maximum income for pension accrual for full-time employees as of January 1, 2018 was EUR 99.384. Employees with an income higher than the accrual receive a personal budget. All CLA employees receive the Employee Benefit Budget (EBB) as a percentage of their fixed salary. The EBB gives flexibility and choice of employment terms including amongst others options to buy extra leave, purchase a bicycle in a tax-efficient way or pay out the percentage reserved for EBB. DLL DLL has a global policy in which remuneration levels are in line with the local labor market. The starting point is a total remuneration package that lies a little above the median of comparable financial services institutions. DLL uses a remuneration package that consists of a fixed salary and variable remuneration components for most positions. The senior management is no longer eligible for variable remuneration. For other employees variable remuneration cannot be higher than 100% oftheirfixed salary. DLL had one employee in 2018 whose total remuneration exceeded EUR 1 million. Alongside a fixed salary DLL offers employees a broad package of various fringe benefits that are in I ine with local market practice, such as pension schemes and health insurance packages. The performance management system of DLL is based on a mix of qualitative and quantitative results. Most employees have predominantly qualitative targets, some of which are individual targets and some of which are team ones. In 2018 DLL started a pilot for a new performance management approach, in which more focus is placed on personal development, coaching and feedback. Annual Report 2018 - Corporate Governance 105

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Annual Reports Rabobank | 2018 | | pagina 107