Collective identified

Collective identified

Aresbank identifies the categories that have a significant impact on the risk profile in the following Identified Group:

  • Board of Directors (7 Directors)
  • General Management (General Manager and Deputy General Manager)
  • Director of the Business Development Department
  • Director of the Treasury and Capital Markets Department
  • Director of the Back Office
  • Director of the Legal Department
  • Director of the Internal Audit Department
  • Head of Global Risk Control Department (CRO)
  • Head of the Accounting Department
  • Director of the Information Technology Department
  • Director of the Administration and Human Resources Department
  • The Head of the Prevention of Money Laundering and Terrorist Financing, Data Protection and Customer Services Department
Wage policy

Aresbank’s Salary Policy establishes the measures for adjusting remuneration. These are based on the Annual Performance Evaluation, whereby this group of employees will be assessed on the basis of the performance of their activity duly stipulated for each financial year, as well as on the personal annual objectives set.

Aresbank’s Salary Policy does not apply remuneration criteria that take into consideration present and future risks, as the main activity carried out is related to foreign trade.

The body in charge of supervising remuneration is a committee that reports to the Board of Directors: the “Appointments and Remuneration Committee”. The remuneration of the members of this committee is included in the section: REMUNERATION TO THE BOARD OF DIRECTORS.

Aresbank does not have a breakdown of remuneration by area of activity as all its service provision activity, mainly related to foreign trade, is focused on “Commercial Banking”.

Aresbank’s General Meeting of Shareholders has not approved variable remuneration in excess of 100% of fixed remuneration.