Nykredit's Remuneration Board

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Nykredit's Remuneration Board

Nykredit Realkredit A/S has appointed a joint Remuneration Board for all the companies of the Nykredit Group.

Tasks of the Remuneration Board

 

The tasks of the Remuneration Board are to:

  • (i) qualify proposals for remuneration prior to consideration by the Board of Directors, including approval of maximum variable remuneration for the coming year, the total budget for bonus payments for the coming year and distribution of total bonus for the past year,
  • (ii) review and consider the criteria and process for identifying staff with a material impact on Nykredit's risk profile, which are laid down in the Board of Directors' guidelines for identifying risk takers, which are subject to approval by the Board of Directors, and to annually consider and recommend for approval by the Board of Directors an updated list of material risk takers,

  • (iii) advise the Board of Directors on the design of the remuneration policy (including general guidelines on incentive pay schemes) applying to the Board of Directors, the Group Executive Board, material risk takers and other staff and subject to adoption by the Board of Directors and to assess, at least once a year, whether the remuneration policy is up to date and propose amendments to the remuneration policy where necessary,

  • (iv) assist the Board of Directors in overseeing compliance with the remuneration policy in practice and, as part of such oversight, to ensure that compliance with the remuneration policy is tested once a year in accordance with the Board of Directors' guidelines for monitoring compliance with the Nykredit Group's remuneration policy,

  • (v) submit proposals to the Board of Directors for remuneration of the Board of Directors and the Group Executive Board, and to ensure that such remuneration is in accordance with the remuneration policy,

  • (vi) versee the remuneration of management staff in internal audit, control and risk management functions, including the Heads of Compliance, Internal Audit and Risk,

  • (vii) ensure that the information in the Annual Report on remuneration of the Board of Directors and the Group Executive Board and the information submitted to the General Meeting on the remuneration policy and practice as well as the information according to section 77a(1)(iii)(a)-(b) is correct and satisfactory,

  • (viii) assess whether the Group's processes and systems are adequate and take account of the Group's risks, including risks relating to capital and liquidity management relative to the Group's remuneration structure, and ensure that the remuneration policy and practice are in accordance with and promoting sound and efficient risk management and comply with the Group's business strategy, targets, values and long-term interests, which must be coordinated with the work of the Risk Board to the necessary extent,

  • (ix) assess the overall results of the Group, the Companies and the business units and ensure that the Executive Board has considered whether the results criteria underlying the calculation of variable remuneration of the members of the Board of Directors and the Executive Board and other staff whose activities have a material impact on the risk profiles of the Companies and the Group continue to be met at the time of payout, cf section 77a(4), and

  • (x) test selected evaluations by the Executive Board, cf (ix) above, for compliance with the provisions of section 77a(4).

 

Members of the Remuneration Board
Steffen Kragh, Chairman
Merete Eldrup
Nina Smith
Leif Vinther

The members of the Remuneration Board are all members of the Board of Directors of Nykredit Realkredit A/S elected by the annual general meeting, and they are considered independent.

Remuneration policy

A number of individual bonus programmes apply to the executive management and specialists in core areas of the Nykredit Group.

Neither bonus nor other variable remuneration programmes have been established for the members of the Board of Directors or the Group Executive Board.

CSR Publication 2016

 

Organisation

Nykredit's organisation is based on the four group units; Customers, Products, Opera- tions and Support.
 

The Danish mortgage model

Get the Association of Danish Mortgage Banks description of the Danish mortgage system.