As set out in Article 76 quinquies 1. a) of Royal Decree 216/2008, BBVA has identified the following groups of professionals as affected by the requirements of this law (Identified Staff), as per the Guidelines on Remuneration Policies and Practices issued by the Committee of European Banking Supervisors (now the European Banking Association – EBA) on December 10, 2010 (hereinafter the “CEBS Guidelines”), adopted by the Bank of Spain in 2011:
- Senior Management: BBVA has included executive directors and other members of BBVA’s Management Committee within the Identified Staff.
- “Risk takers”: This group includes the following: Those who form part of the various Risk Committees, and the members of the management committees of the Group’s business areas. The Bank also considers as risk takers those employees whose variable annual remuneration, as defined in section 10.3 below, is above a specific benchmark level and higher than their fixed remuneration; or if the benchmark level is above a certain amount regardless of their fixed remuneration.
- Professionals responsible for control functions: Within this group, BBVA has identified those responsible for the following functions as to be included as Identified Staff: members of the Risk Committee, the Internal Audit Management Committee and those responsible for the Legal Compliance, Human Resources, and Global Accounting & Informational Management functions.
Notwithstanding the foregoing, BBVA will adapt the definition of Identified Staff, including categories of professionals as necessary, based on the requirements set out by applicable regulations.