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
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