Company: INGVF
Filing Date: 2025-03-06
Form Type: 20-F
Source: 0001628280-25-010764
Chunk: 180

Company: ING GROEP NV
Filing Date: 2025-03-06
Form: 20-F
Item: Item 6
Chunk 180
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, real-time, and continuous feedback process, coaching, and two-way performance and development conversations with managers. We will continue to work on areas such as further encouraging feedback, upskilling managers, and ensuring a new approach is understood across the bank. 
2024 Group variable remuneration pool outcomes
In determining the 2024 Group variable remuneration pool, the Supervisory Board considered:
•the Group's financial and non-financial performance in 2024;
•the performance of business lines within the Group and their contributions to our strategic targets; and
•the Group's capital position and current and future risks. 
The award of discretionary variable remuneration is based on a transparent, structured, and robust mechanism for measuring performance and applying risk adjustments (the Variable Remuneration Accrual Model or VRAM). The VRAM construct follows a five-step process, as shown in the schematic below, in order to determine Group and business line risk-adjusted variable remuneration pools.

ING Group Annual Report 2024 on Form 20-F 

Contents       Part I         Part II        Part III       Additional information        Financial statements    
<{self.tag} alt="{self.alt}" src="{self.src}">Variable Remuneration Accrual Model6,7

Step 1                                                                                                   Step 2                                                                                                                        Step 3                                                                                                                                                                                                                                    Step 4                                                                                                                                                                           Step 5                                                                                                                                                                                                                                                                                                                                                                                                                              
Target VR pool is a sum of individual VR targets which are set in reference to market pay levels.        ROE and CET1 hurdles, as qualifiers, are requirements that both need to be met before for the VR pools can be unlocked.       The performance scorecards are based on an assessment against financial, non-financial and risk measures. All scorecards are structured and a formulaic approach is used to generate a VR pool at a Group and business line level.        Group CEO reviews the VR pools and, where appropriate, makes a discretionary recommendation to adjust upwards or downwards the VR pools based on performance parameters.         Final and independent assessment by the Group CRO recommending additional risk adjustments to VR pools, based on ex-ante risks focusing on material outliers not captured under step 3 and ex-post risk events at a Group, business line, entity or team level.                                                                                                                                                                     
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  Furthermore, the Group CRO also recommends risk modifiers to individual variable awards where risk requirements are below expectations applicable on to IDS Risk Takers2 as well as holdback (i.e. forfeiture of up to 100 percent