Activities of the Supervisory Board
(Corporate) Governance and Risk
The Supervisory Board closely followed an internal project to modernise governance and risk management. The Supervisory Board welcomed and appreciated the active and proactive attitude of the Executive Board in this process, which is a prerequisite for compliance with (new) regulations and for further growth. The Supervisory Board noted that the relationship between Triodos Bank and the Dutch Central Bank was strengthened as a result of these efforts.
In 2014, the Supervisory Board contributed to strategy development in the context of the Triodos 2025 process, and the creation of a ten-year long term strategic perspective. The Supervisory Board looked in particular at innovation challenges and potential, and how the essence of Triodos Bank underpins the basic vision and mission for strategy development. A Supervisory Board member also participated throughout the preparation of the Triodos 2025 process.
During 2014, topics discussed at the Supervisory Board’s meetings and contacts with the Executive Board included:
- Strategy: the Triodos 2025 process, developments in different countries and at Triodos Investment Management, and the main strategic risks of the business, the work plans for 2014 and 2015, and the quarterly SWOT analysis.
- Finance: Triodos Bank’s financial and economic developments and their possible impact on Triodos Bank’s activities, the financial results 2013, the 2013 annual report and the management letter, and the half-year report.
- Risk: the design and effectiveness of the internal risk management framework and control systems, the ‘risk appetite’, the audit findings, the auditor’s reports, quarterly reports and loan reports.
- Human resource management: senior management development, organisational changes, and the company culture, and the annual revision of the international remuneration policy.
- Internal organisation: the roles and responsibilities of the Supervisory Board, the Board of SAAT and the Executive Board in relation to each other, and an update of internal rules for the Supervisory Board (including a revised procedure on other positions of Supervisory Board members).
- Branches & Business Units: Meetings were held with local management by individual Supervisory Board members, together with a representative of the Board of SAAT and the Executive Board. A presentation was given by the management of Triodos Private Banking. The Supervisory Board closely followed developments in the branches in Spain (management change) and Germany (business results). In both cases decisions were taken and approved to create a positive outlook for 2015.
- Contacts with the Dutch Central Bank: The Chair and Vice Chair met with the Dutch Central Bank to clarify the Supervisory Board’s activities and relationship with the Executive Board. More frequent contact with the regulator is the result of Triodos Bank’s growing balance sheet and scope of activities.
- Contact with the Board of SAAT: A Supervisory Board delegation had an informal meeting with a delegation from the Board of SAAT following the General Meeting.