Company: BCDRF
Filing Date: 2025-03-03
Form Type: 6-K
Source: 0000891478-25-000057
Chunk: 51

Company: Banco Santander, S.A.
Filing Date: 2025-03-03
Form: 6-K
Chunk 51
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 the qualitative requirements OVA - Institution risk management approach and OVB - Disclosure on governance arrangements.

Our risk management and control model is underpinned by common principles, a solid risk culture, robust governance and advanced management processes on risk types.

3.1.1. Risk principles and culture Grupo Santander's risk management and control comply to the mandatory principles and in addition, our risk culture (Risk Pro), which considers regulatory requirements and best market practices: • All employees are risk managers understand the risks that their work can create and avoid risks which will exceed the Group’s risk appetite or have an unknown impact. • Senior managers are involved in risk management and control risk through their conduct, action and communications, as well as reviewing our risk culture and upholding our risk profile within risk appetite. • Independence of risk management and control functions , according to our three lines of defence model and with clearly defined roles and responsibilities. • We take a forward-looking, comprehensive approach for all businesses and risk types, which should be proactive and analyse trends over different time periods and under different scenarios. • Effective information management to identify, assess, manage and disclose risks at appropriate levels.

Risk culture - Risk Pro The Group's risk culture, which is called Risk Pro (or 'I AM RISK' in the US), is a core element of both our corporate culture, The Santander Way and our purpose of helping people and businesses prosper. Risk Pro is each employee’s accountability for the risks taken in their day to day activity and their individual contribution to identifying, assessing and managing risks properly and responsibly. Risk Pro is part of all stages of the employee life cycle: recruitment, growth and development (training), day to day activity, remuneration and recognition. Due to communication being the most important tool in embedding our risk culture, the communication networks of each unit were enhanced over the last year. The global Risk Pro Week contributed to our risk culture and raised employees’ awareness of the importance of managing risk in their day to day activity. For more details about Group's risk culture, see the section '6.1. Corporate culture' of the 'Sustainability, Statement' chapter.

| Access 2024 Annual Report available on the Santander Group website |

64 2024 Pillar 3 Disclosures Report

| Index |     | Introduction |     | Capital |     | Risks |     | Risk taker's remunerations |     | Appendices |

3.1.2. Types of risk Grupo Santander has measures and procedures in place to identify,