PKO Bank Polski SA has a remuneration and incentive system, in which the level of variable component of the salary is determined by the degree of achievement of the targets set. It consists of four pillars:
I Pillar, the so-called Management by Objectives (MbO) covers managerial and expert positions crucial for the Bank’s key objectives. The MbO consists of granting bonus which depends on the quality and degree of completion of the tasks.
II Pillar, the so-called Individual Bonus System (IBS) is the system of bonuses which depends on the degree of completion of specific tasks in the areas of sales and effectiveness. The system covers those employees who are performing business tasks, mainly in corporate and investment banking, as well as in debt collection.
III Pillar, the so-called Sales Bonus System is aimed to positions in retail branches, which perform the sale of banking products.
IV Pillar, the so-called Support Bonus System (SBS) includes other employees not covered by the system MbO, IBS and Sales Bonus System.
Regardless of the bonus system there is a system of rewarding employees, under which the Bank creates a prize fund for the purpose of:
- individual discretionary awards to employees of the Bank, deriving outstanding results in their work or for achievements, which led to results important for the Bank, and
- awards in competitions relating to performance and other competitions organised by the Bank.
In addition, in accordance with the Resolution No. 258/2011 of the Polish Financial Supervision Authority, Directive No. 2013/36/EU of the European Parliament and the Council, and delegated Regulation No. 604/2014 of the European Commission, the Bank introduced separate regulations fixing the variable salary components policy, applicable to persons on managerial positions.
The PKO Bank Polski SA Group entities have incentive and remuneration systems in which the degree of achievement of individual targets determines the bonus. The procedure for target setting and belonging to the particular system depends on performed tasks including sales tasks and the size of the Company. Management of most of the entities from the PKO Bank Polski SA Group and the directors of selected Group entities are covered by the Management by Objectives System MbO.
Additionally, in connection with the resolution of the Polish Financial Supervision Authority (PFSA) No. 258/2011, directive of the European Parliament and of the Council of Europe No. 2013/36 / EU and the European Commission delegated decree No. 604/2014 selected entities of the PKO Bank Polski SA Group introduced separate regulations setting variable components of remuneration policy. Supervisory Boards of PKO Leasing SA, PKO TFI SA, PKO BANK PTE SA, PKO Życie Towarzystwo Ubezpieczeń SA, PKO Towarzystwo Ubezpieczeń SA and Bank Hipoteczny SA implemented the "Regulations of the variable components of the remuneration for the members of the Board." In addition, employees in selected managerial positions of PKO Życie Towarzystwo Ubezpieczeń SA, PKO Towarzystwo Ubezpieczeń SA and Bank Hipoteczny fall under the rules of variable components of remuneration.