The Santander Bank Polska Group Remuneration Policy has been prepared in cooperation with the Risk Units, the Compliance and Financial Crime Control Division and the Legal Department. In determining the value of remuneration, we use reports offered by an independent consulting firm. The remuneration principles applied are subject to an independent internal review by the Internal Audit Area at Santander Bank Polska S.A. at least once a year. A report on the review is presented to the Supervisory Board and the Remuneration Committee of the Supervisory Board.
Remuneration policy
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Process to determine remuneration2-20Process to determine remuneration
The Santander Bank Polska Group Remuneration Policy enables us to attract and retain the best qualified professionals. Its personal scope covers employees of the bank and its subsidiaries, including identified employees (otherwise known as Material Risk Takers/MRTs), whose professional activities have a significant impact on the organisation’s risk profile, excluding Members of the Management Board and Supervisory Board. We offer a market-competitive benefits package consisting of basic salary, bonus schemes and fringe benefits. The regulations implemented in the Group promote the avoidance of excessive risk among employees.
The ownership of the Policy is vested in the Management Board of Santander Bank Polska S.A., which is responsible for its updating and reviewing at least once a year. The bank’s organisational unit responsible for remuneration assists the Management Board in this process. The Supervisory Board is responsible for overseeing the Policy, approving it and, at least annually, reviewing the remuneration principles and assessing their impact on the bank’s management.
In determining the limit of the proportion of variable to fixed remuneration components, Santander Bank Polska S.A. takes into account the opinions of shareholders (in principle, it is then necessary to obtain the approval of the General Meeting of Shareholders expressed by a two-thirds majority of votes in the presence of persons representing at least half of the share capital).
The remuneration principles for members of the Supervisory Board and the Management Board are described in subsection Rules for the remuneration of management.
