COMMERZBANK AKTIENGESELLSCHAFT

To our Shareholders Corporate Responsibility Management Report Risk Report Group Financial Statements Further Information 249
193
157 213 Key developments in 2011
159 215 Risk-oriented overall bank management
163 219 Default risk
178 234 Intensive care
182 238 Market risk
187 243 Liquidity risk
190 246 Operational risk
192 248 Other risks
195 251 Outlook
• Departure risk: We take great care to ensure that the absence or departure of employees
does not result in long-term disruptions to our operations. Quantitative and qualitative
measures of staff turnover are monitored regularly.
• Supply risk: Our quantitative and qualitative staffing is based on internal operating
requirements, business activities, strategy and the Commerzbank risk situation.
Employees are a key resource for Commerzbank. Our success is based on the specialist
knowledge, skills, abilities and motivation of our employees. Human resources risk is
systematically managed by Group Human Resources with the aim of identifying risks as early
as possible and assessing and managing them by applying selected personnel tools, for
instance. The Board of Managing Directors is regularly informed about human resources risks.
Business strategy risk
Business strategy risk is the medium to long-term risk of negative influences on the
achievement of Commerzbank’s strategic goals, for example, as a result of changes in
market conditions, or inadequate implementation of Group strategy.
Group strategy is developed further within the framework of a structured strategy process
which forms the basis of the Bank’s annual planning process. This involves setting corporate
strategic directions and guidelines as well as determining quantitative targets as an
aspiration level for the Group and segments. As part of the regulatory requirements under
MaRisk a sustainable business strategy is set, based on the results of the strategy process,
which describes the major business activities and the steps to reach the envisaged goals.
A risk strategy consistent with this is also set.
In addition, we also constantly monitor external factors such as market and competitive
conditions, capital market requirements and changed regulatory aspects, with relevant
changes resulting in adjustments to Group strategy as well as business strategy. The strategy
process consists of the planning, implementation, assessment and adjustment of these
strategies. The essential content of the business and risk strategy is subsequently
communicated throughout the company. To ensure proper implementation of Group strategy
to achieve the business targets, strategic controls are carried out through regular monitoring
of quantitative and qualitative targets in the Group and segments.
Responsibility for strategic corporate management lies with the Board of Managing
Directors, which is supported by Group Development & Strategy for strategic issues.
Corporate strategy is discussed in detail with the supervisory board in a strategy conference.
Specific business policy decisions (acquisition and sale of equity holdings representing >1%
of equity capital) also require the authorisation of the Risk Committee of the Supervisory
Board. All major investments are subject to careful review by the Investment and Resources
Allocation Committee.
Group Risk Report