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2018 Pillar 3 Disclosures
Risk Management
2 | 2.2
Risk management departments
Article 38 of Act 10/2014 stipulates that credit institutions must have a unit that assumes the role
of risk management in proportion to the nature, scale and complexity of its activities.
Underpinned by the aforementioned principles, the structure of the risk function of Cecabank
is organised in order to comply with these requirements. Key requirements in this respect
include the independence of this unit from the ones under its supervision and control; holding a
relevant status, undertaking limited participation in decision-making processes; and having free
access to the Board of Directors, with sufficient resources to do so.
This section gives an overview of the structure of the bank’s risk function which, along with the
description of the procedures included in Annex I, demonstrates that Cecabank complies with the
aforementioned requirements enacted by Royal Decree 84/2015 and the Bank of Spain Circular
2/2016, as well as the Corporate Governance guidelines of the European Banking Authority.
Risk Department
The Risk Department is responsible for ensuring that the risk strategy is effectively implemented
through the development of policies, procedures, controls and systems which are appropriate, and
understood by the business areas assuming risks.
The Department is independent of the business areas, in both functional and hierarchical terms. Its
manager reports directly to the CEO and is actively involved in the Steering Committee, the Assets and
Liabilities Committee, and the Compliance and Operational Risk Committee.
Its position within the organisation has been established with the aim of ensuring the independence
and autonomy required so as to guarantee compliance with the objectives set.
2.2.4
2.2.4.1
Board of
Directors
Operational
Services
Department
Associate
Services,
Control and
Resources
Department
General
Secretariat
and Legal and
TAX Advice
Department
Planning
Department
Risk
Department
Internal
Audit
Financial
Department
Technology
Department
Risk
Committee
Audit
Committee
General
Management