Brocc's remuneration system and policy are designed in accordance with the requirements set out in applicable external regulations governing the operations within the Brocc Group. These include, among others, the regulations of Finansinspektionen, Swedish and EU legislation, and relevant guidelines issued by the European Banking Authority (EBA).
Description of the Remuneration System
The remuneration system at Brocc aims to attract, motivate, and retain qualified employees while ensuring sound and effective risk management. The system is designed to prevent excessive risk-taking and conflicts of interest and is applied on a gender-neutral basis to all employees.
Fixed and Variable Remuneration
Employees at Brocc are entitled to fixed remuneration, pension benefits, and other employment-related benefits. Fixed remuneration is determined individually, taking into account the employee's performance, experience, responsibilities, and market conditions.
In addition to fixed remuneration, variable remuneration may be applied for certain employees, for example, based on performance targets. However, the total variable remuneration must not be of such magnitude that it limits Brocc's ability to maintain or, when necessary, strengthen its capital base.
For employees whose roles or total remuneration could have a material impact on Brocc's risk profile, variable remuneration may not exceed the fixed remuneration.
Remuneration Committee
The Board of Directors has appointed a Remuneration Committee tasked with conducting an independent assessment of Brocc's remuneration policy and system, and with preparing the Board's decisions on remuneration-related matters. The Committee is also responsible for ensuring that the remuneration system complies with applicable regulations and contributes to responsible and sustainable corporate governance.