How we equip our senior leaders for enhanced accountability
We continue to place leadership and culture at the core of our transformation and change efforts. This includes intense support for most senior employees who drive performance, innovation and the bank’s overall culture.
Strategic succession management forms the foundation of our senior leadership development efforts. Succession management starts with position-based succession planning and is implemented alongside the Total Performance process to enable integrated people decisions and follow-up. Succession planning ensures a sustainable pipeline of internal talent for our most senior and critical positions, and that these individuals are intentionally developed for enhanced leadership responsibility.
There is a critical focus on strengthening talent in the succession pipeline, with a focus on individuals who have the required leadership, functional and technical expertise as well as a broad understanding of the Bank.
In 2020, the succession planning module was released in Workday, further automating the succession process and extending this functionality to all positions in the Bank. Succession plans can now be accessed and updated at any time with real-time analytics reports available.
Our ongoing board readiness initiative seeks to further enhance the Bank’s regulatory posture, knowledge and skills for management and legal entity boards. In 2020, targeted senior individuals took part in a thorough ‘fit and proper’ suitability assessment process focused on content that is essential for effective governance, regulatory conduct and decision making amongst members of management bodies.
All new appointees to Management Board in 2020 were effectively supported by our internal board readiness program. Complementing this offer, and in line with European Securities & Markets Authority and European Banking Authority Guidance on Key Function Holders and Members of Management Boards, we continuously worked on the Management Board Training Framework to ensure the provision of training to maintain ongoing suitability.
During 2020, HR extended its suitability assessment frameworks to over 160 of our main subsidiaries and branches. Appointees and incumbents are assessed in line with the ESMA and EBA Guidelines on the assessment of the suitability of members of the management body and key function holders with 'fit and proper' suitability reviewed at an individual and collective basis. Continuity of decision making through appropriate succession planning has also been reviewed at a Main Entity level.
In addition, we continue to apply strong governance to the assessment and appointment of our Deutsche Bank AG Key Function Holders with annual suitability reviews and bespoke readiness support provided if indicated.