Company: BCDRF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0000891478-25-000054
Chunk: 524

Company: Banco Santander, S.A.
Filing Date: 2025-02-28
Form: 20-F
Chunk 524
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CO                                 |     |                                  |
| Frequency:       |     | Weekly                |     |                                |     | Monthly                                                       |     |                              |     | Monthly                             |     |                                  |
| Fora:            |     | •Model approval forum 
 •Risk proposal forum  |     |                                |     | •Market, structural, liquidity and capital risk control forum 
 •Credit risk control forum                                    
 •Provisions forum                                             |     |                              |     | •Corporate product governance forum 
 •Financial crime compliance forum   |     |                                  |

Our governance structure includes key positions and executive level committees that enable us to perform effective risk control and oversight.

The Group chief risk officer (CRO ), who leads the implementation and execution of our risk strategy and promotes proper risk culture, is in charge of overseeing all risks, as well as challenging and advising business lines on risk management.

The Group chief compliance officer (CCO) leads the implementation and execution of the compliance risk strategy and is in charge of overseeing the risks within their purview and reporting on them to the CRO.

The CRO and the CCO report directly to both the risk supervision, regulation and compliance committee and the board of directors.

The executive risk committee, the risk control committee and the compliance and conduct committee are executive committees with powers delegated from the board.

Executive risk committee (ERC)

The ERC manages risk with board-given authority to accept, modify or escalate the important models as well as actions and transactions that may pose significant risk to the Group. It makes the highest-level risk decisions, mindful of risk appetite. It is formed of the CEO and other senior managers f rom the Risk, Finance and Compliance areas. The CRO can veto the committee’s resolutions.

Risk control committee (RCC)

The RCC controls and provides a holistic overview of risks. It makes sure business lines are managed according to the board-approved

risk appetite. It also determines and checks the impact of existing and emerging risks on Grupo Santander's risk profile. It is formed of senior officers from the Risk, Compliance, Financial Accounting and Control, and other areas. From time to time, subsidiary-level CROs to report the committee on their risk profile.

Compliance & conduct committee

This committee monitors and reviews compliance risk management and oversees corrective measures for new risks and risks detected among management-related deficiencies. It is formed of senior officers from the Compliance, Risk, Financial Accounting and Control, and other areas. The chair holds the casting vote over the committee’s resolutions.

Executive-level committees delegate some duties to