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2018 Pillar 3 Disclosures
Information on remuneration
Remuneration Committee
The Board of Directors of Cecabank has a Remuneration Committee, in accordance with the
provisions of the regulation, supervision and solvency of credit institutions Act 10/2014, of 26th
June, and its enacting regulation, as well as Act 31/2014 of 3rd December, which modifies the
Corporation Act in order to improve corporate governance.
The Remuneration Committee has regulations specifying the following:
1.-In accordance with the provisions of Royal Decree 84/2015, of 13th February, implementing
Act 10/2014, of 26 June, on the regulation, supervision and solvency of credit institutions,
the Remuneration Committee has the following functions:
a) Preparing decisions in relation to remuneration, including decisions that have
repercussions for the bank’s risk and risk management, that must be adopted by the Board
of Directors.
b) Reporting information on the General Remuneration Policy of the members of the Board
of Directors, CEOs or similar positions, as well as the individual remuneration and other
contractual conditions of the members of the Board of Directors who perform executive
duties, and ensuring compliance therewith.
c) Reporting information on the Remuneration Policy of senior executives, employees that
assume risk, employees performing control functions and any employee that receives an
overall remuneration that falls within the same scale of remuneration as applies to senior
executives and employees that assume risk, whose professional activities significantly
coincide with their risk profile.
d) Directly supervising the remuneration of senior executives responsible for risk
management and in charge of the bank’s compliance functions.
e) Reporting information on the incentive plans for directors or employees linked to the
bank’s profit and/or other variable indices/components.
2.-The Remuneration Committee may also report on any issues assigned to it in relation to
the remuneration and compensation system, amounts and raises, of the Board of Directors,
executive directors and executive personnel.
3.-When preparing the decisions, the Remuneration Committee takes into consideration the
long- term interests of the bank’s shareholders, investors and other stakeholders, as well as
the public interest.
4.-The Committee reports its activity and the work conducted to the Board of Directors in an
appropriate and timely manner.
5.-The Committee drafts an annual report on its activities over the course of the financial year.
The composition of the Remuneration Committee can be consulted in Annex III of this
document.
In 2018, the Remuneration Committee held two meetings.
11.1.1
Remuneration of Cecabank
personnel
11 | 11.1