RBS 2013 Annual Report Download - page 85
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Annual report on remuneration
83
2014 Annual objectives for the Group Chief Executive and Group Finance Director
The executive directors’ annual objectives, as set out below, are approved by the Committee and reflect the Group’s key strategic priorities. The Board
Risk Committee has approved the risk and control issues. Note that, as described in the Remuneration Policy section of the report, no annual bonus
awards will be payable to executive directors. Nevertheless, the Committee believes that annual objectives are an important part of driving the
business strategy and meeting agreed targets.
Core objectives Summary of objectives and targets (1)
Customer & Stakeholder
(25%)
• Customer Strategy and Experience - clearly articulate customer strategy; effective customer experience framework and
measurement approach.
• Customer Relationships - develop stronger and deeper customer relationships.
• Corporate reputation - enhance and support the company’s reputation with all stakeholders.
Financial & Business
Delivery (25%)
• Common Equity Tier 1 Ratio - deliver fully loaded Common Equity Tier 1 ratio in line with strategic targets, including
successful execution of RCR reduction.
• Return on Equity (2) - improve return on equity in line with strategic targets.
• Cost:Income Ratio (2) - reduce cost:income ratio in line with strategic targets.
People & Culture (25%) • Operating Model - deliver first phase of efficient and effective bank-wide operating model.
• Values & Engagement - embed and role model the Group’s values, setting the tone from the top, and building the pride
and engagement of our people.
• Diversity - promote gender diversity in senior talent pools.
Risk & Control (25%) • Risk Appetite - further progress on embedding enhanced risk appetite and risk frameworks.
• Governance & Control - maintain an effective governance and control environment and deliver key systems and
processes.
• Conduct - embed the agreed conduct risk framework across the business.
• End to End Risk Management Framework - maintain an effective risk management framework across the business.
Notes:
(1) Details of targets that are deemed to be commercially sensitive will be disclosed retrospectively.
(2) Excluding RBS Capital Resolution.