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2018 Pillar 3 Disclosures
Risk Management
This information includes a control panel that integrates the main evolutionary indicators
relating to risks and capital, and monitors the operating results and the annual budget.
Furthermore, the Board and its supporting committees have unrestricted access to the personnel
involved in the risk, planning, audit, control and regulatory compliance functions.
Policies for selecting board members and
diversity of the Board of Directors
In accordance with applicable regulations, the bank has a policy for selecting directors, which
considers different diversity criteria and, in particular, a representation target has been
established for the least represented sex on the Board of Directors.
Policy for selecting board members and diversity
of the Board of Directors
Since June 2013, Cecabank has had a policy for selecting and assessing the suitability of the
members of the Board of Directors, the CEO and similar members, the person in charge of
internal control functions and other key positions.
Due to the entry into force of the EBA-ESMA Guidelines on the assessment of suitability of
members of the management body and key function holders, published in September 2017, the
aforementioned Suitability Policy was reviewed, and it was concluded that there was a need to
begin work on a new text for the Suitability Policy.
At its meeting of 28 November 2018, the Board of Directors agreed, as the proposal of the
Appointments Committee, to approve the Suitability Policy for members of the Board of
Directors, the CEO or similar members of Cecabank. With the approval of the aforementioned
Policy, the part of the policy regarding selecting and assessing members of the Board of
Directors, the CEO and similar members, the person in charge of internal control functions and
other key positions, was rendered ineffective on 25 June 2013.
Similarly, the content of the Board of Directors Selection Policy, approved by the Board of
Directors on 24 May 2016 and of the Policy on the representation target for the gender that
is least represented on the Board of Directors, approved by the Board of Directors on 25
November 2014, was rendered ineffective since they were incorporated into the Suitability
Policy approved in 2018.
The bank has established a gender diversity target that at least 50% of the Cecabank Board of
Directors should be represented by female Independent Directors. This percentage is calculated
by rounding up to the nearest whole number in the event that the number of Independent
Directors is uneven.
Furthermore, the representation of women on the Board of Directors will be subject to an
upward trend, with the ultimate objective being to reach an equal balance of men and women
on the Board. In order to reach this objective, it must be taken in account whenever vacancies
arise on the Board and its different Committees.
2.2.2
2.2.2.1
2 | 2.2