RegAlert2026-09-30
Added
Decision on Remuneration in Credit Institutions
This Decision establishes the basic principles for remuneration policies in credit institutions, defining identified employees as those with a material impact on the risk profile and specifying that remuneration includes all gross monetary and non-monetary benefits. It mandates deferral and retention periods for variable remuneration, requires the supervisory board to approve exemptions and severance criteria, and obliges institutions to apply the principle of proportionality based on size, complexity, and risk profile. The document further regulates group-level remuneration policies, internal control functions' roles, and reporting requirements to the Central Bank of Montenegro.
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[unofficially consolidated translation]
DECISION
ON REMUNERATION IN CREDIT INSTITUTIONS
(OGM 094/25 of 12 August 2025, 138/26 of 22 September 2026)
I. GENERAL PROVISIONS
Subject matter
Article 1
This Decision governs the basic principles for establishing the remuneration policies, the rules, procedures and criteria related to remuneration policies in credit institutions, including the criteria for determining significant business unit and the criteria and categories of employees who have a material impact on the risk profile of the credit institution, and the manner of reporting to the Central Bank of Montenegro (hereinafter: the Central Bank) on the remuneration. Employees who have a material impact on the risk profile of the credit institution
Article 2
(1) An employee who has a material impact on the risk profile of the credit institution (hereinafter:
the identified employee) shall be an employee whose professional activities have a material impact on the risk profile of a credit institution on an individual or group basis, in accordance with the criteria prescribed by this decision or additional criteria defined by the credit institution. (2) An employee, within the meaning of this Decision, shall be any natural person who, based on an employment contract or other contract concluded with the credit institution, performs certain activities for the credit institution, including a member of the supervisory board of the credit institution. (3) The provisions of this Decision shall also apply to persons who are, based on the employment contract or other contract concluded with the outsourcing provider that is a member of the group of credit institutions, directly involved in the provision of such services, and who may have material impact on the risk profile of that credit institution. (4) A credit institution may apply to all employees the provisions of this decision that refer to identified employees, on individual, consolidated and sub-consolidated basis. Remuneration
Article 3
(1) Remuneration, within the meaning of this Decision, means all forms of remuneration, payments
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Lineage: In force
Source: Central Bank of Montenegro — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works
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