Rabobank Group

Each Rabobank Group business unit sets annual CSR targets. Monitoring our progress towards these goals is an integral part of Rabobank Group’s planning and control cycle, helping ensure CSR is embedded in our operations.

CSR coordinators are responsible for implementing CSR within their respective business units. All the group entities and all local Rabobanks have a designated coordinator.

Rabobank’s group divisions are required to report quarterly to the Executive Board on their CSR targets. This data is then collected and registered by the Control Rabobank Group Directorate, which is responsible for verifying its accuracy and completeness and periodically reporting on Rabobank’s CSR performance. Local Rabobanks are required to submit their CSR progress reports to the Cooperative & Sustainable Business  Directorate.

Rabobank Nederland’s executive management sets a coordinated annual CSR target with the Executive Board. The executive management is also required to include at least one CSR target in its Performance Management Agreement, in line with Rabobank Group’s goal to integrate CSR into its daily operations.   All Rabobank departments encourage employees to set their own CSR targets and to integrate CSR in their daily operations.

The Supervisory Board holds CSR meetings three times a year. A range of topics are discussed, including the sustainability report and the annual Rabobank Foundation report.

Audit Rabobank Group (ARG) has been responsible for verifying data from Rabobank’s sustainability report, in consultation with an external auditor, since 2004. This involves not only data verification, but also checking that data collection procedures have been properly followed.

Rabobank Group is committed to accurate reporting and high-level data verification across its operations. Audits done in collaboration with external auditing professionals help ensure the highest level of assessment and quality control. Our sustainability reports have met Global Reporting Initiative (GRI) standards since 2003.

Compliance with legislation and regulation is vital to safeguarding our integrity. Rabobank Group systematically monitors all developments in the field of social standards for reputable businesses.

The Supervisory Directorate performs a compliance advisory role, supporting Rabobank managers as they implement external regulations and internal procedures. It also ensures the necessary corrective measures are taken in the event of non-compliance. Any confirmed cases of internal fraud are always reported to the police and judicial authorities.

The importance of complying with internal and external codes and statutory regulations is regularly brought to the attention of all Rabobank employees. It is imperative that all Rabobank Group staff are aware of regulatory compliance requirements and act in accordance with them.

Rabobank compliance officers perform a pivotal supervisory role. Managed by the Supervisory Directorate, they periodically report on their findings to the directorate and local Rabobank management teams.

Rabobank compliance officers oversee:

• Provision of service with due care: Rabobank puts its customers first and provides every customer with service appropriate to their particular needs. Products and services are not sold to a customer unless they suit the customer’s objectives. 
• Customer integrity: Rabobank does not participate in undesirable activities carried out by customers, such as money laundering, financing of terrorism, insider trading, price manipulation, tax offences and evading reporting requirements. A customer due diligence policy has been created for accepting, identifying, verifying, monitoring and reviewing clients and their transactions. These procedures are in line with the Dutch Prevention of Money Laundering and Terrorist Financing Act (WWFT).
• Integrity of the bank and employee: compliance officers closely monitor the bank and its employees for instances of insufficient duty of care, misleading communications, conflict of interest, insider trading and price manipulation.  

Every group division, local member Rabobank and international branch office has a compliance officer that provides support in these areas.

Most local Rabobanks have their own Works Council or staff representative body, where general, financial and economic, organisational or social issues can be discussed.

The Group Works Council of Member Banks (GOR-AB) is a collective employee representative body. It protects the interests of local Rabobank employees at a central level and supports the professionalisation of local Rabobanks. Management liaises with the Group Works Council at an early stage to discuss centrally  initiated policy and its effect on local Rabobanks.

Rabobank Group also has a European Works Group (EWG) which represents employees of Rabobank branches located in EU member states.

The EWG was established in 1999 to represent Rabobank employees at the European level. Comprised of  employee representatives from branch offices of Rabobank International in Europe, ACCBank and Rabobank Nederland, it meets at least twice a year to discuss sector developments and transnational European HR policy.

Rabobank Nederland has its own Works Council, as do Rabobank subsidiaries De Lage Landen, Obvion, Robeco and Rabo Real Estate Group.

Topics regularly addressed by the staff representative bodies include employability, performance management, working conditions policy and diversity. The Works Councils encourage employee commitment to CSR and help embed CSR in Rabobank’s business operations.

Approximately 15-20% of Rabobank employees are members of a trade union. Rabobank consults with the trade unions and other representative bodies such as the Pension Fund Members’ Council when necessary.