Company: BBVXF
Filing Date: 2025-09-09
Form Type: 424B3
Source: 0001193125-25-198517
Chunk: 743

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-09-09
Form: 424B3
Chunk 743
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 follows: |

| • |     | Maintain effective internal controls and perform   
 day-to-day risk assessment and control procedures; |

| • |     | Identify, quantify, control and mitigate risks, complying with the established internal policies and procedures and 
 ensuring that activities are consistent with the established goals and objectives;                                  |

| • |     | Implement adequate management and oversight processes to ensure compliance with regulations, focusing mainly on control 
 errors, inadequate processes and unforeseen events.                                                                     |

| – | Second line of defence: in general, the second line of defence ensures that the first line of defence is well                                                                    
 designed and performs its assigned duties. It also puts forward suggestions for its continuous improvement. The core responsibilities attributed to this line are the following: |

| • |     | Ensure the existence and promote the update of a Global Risk Framework, which establishes the core principles for 
 adequate risk management and control.                                                                             |

| • |     | Put forward the Institution’s Risk Appetite Statement (RAS) for approval, ensuring it is kept fully up to date at 
 all times and monitoring it on an ongoing basis.                                                                  |

| • |     | Supervise the risk management and control activities carried out by the first line of defence to ensure they conform to                                            
 the established policies and procedures, bearing in mind the functions specifically assigned this task, and identify areas for improvement within risk management. |

| • |     | Formulate independent opinions to lend support in decision-making processes. |

| • |     | Periodically analyse and report to the governance and management bodies on the risk profile of the Institution through 
 the RAS.                                                                                                               |

| • |     | Report to the Board Risk Committee on the status and potential development of the Institution’s risks. |

| • |     | Provide guidance and support to identify, assess, monitor, manage and mitigate the Institution’s risks. |

| • |     | The Validation Division gives opinions regarding the suitability of new proposals, changes or adjustments to models,                                                                    
 tools and processes with material methodological components. It also designs and rolls out the model risk management and control framework and monitors the Group’s model risk profile. |

A-614

| – | Third line of defence: helps the Group to achieve its objectives by providing a systematic and disciplined approach                          
 to assess the adequacy and effectiveness of the organisation’s governance processes and its risk management and internal control activities. |

4.4 Management and monitoring of the main material risks The most salient aspects concerning the management of the first-tier risks identified