Isabel Jahn

Isabel Jahn joined hkp/// group in January 2017 as Senior Manager. She is consulting banks and financial services providers in all HR relevant matters.

After completing her Master studies in International Culture and Business Studies at the University of Passau, Isabel Jahn began her professional career as a graduate trainee in the HR department of one of the German major banks. She remained as an HR advisor responsible for areas such as recruiting, staff development and internal staffing in various business segments and supporting restructuring projects.

In 2004 she moved to on of the largest Swiss banks. Based in Frankfurt, she held various technical expert and management functions in the areas of talent management and development, global HR projects, and HR principles and compensation. Since 2013 she has been an Executive Director in her position as Head of Human Resources Germany and HR Business Partner for Germany and Austria.

Isabel Jahn holds various additional qualifications, including Certified Business Mediator (Chamber of Industry and Commerce, IHK) and Systemic Consultant (Institute for Systemic Consulting, ISB).

Isabel Jahn, Senior Manager
Phone +49 69 175 363 362
isabel.jahn@hkp.com

Isabel Jahn

Isabel Jahn joined hkp/// group in January 2017 as Senior Manager. She is consulting banks and financial services providers in all HR relevant matters.

Isabel Jahn holds various additional qualifications, including Certified Business Mediator (Chamber of Industry and Commerce, IHK) and Systemic Consultant (Institute for Systemic Consulting, ISB).

Isabel Jahn, Senior Manager
Phone +49 69 175 363 362
isabel.jahn@hkp.com

Oliver Baierl

Oliver Baierl advises on the development of sustainable compensation systems and the various challenges in the compensation regulatory context. His focus is on the realization of strategic corporate goals in the area of conflict between transformation, regulation and internal and external stakeholder interests.

His expertise grew from various positions at one of Germany's largest state-owned financial institutions. There, he played a key role in shaping the new compensation strategy and the amendment of compensation governance in Germany and abroad. Most recently, as Head of Compensation & Benefits, he was responsible not only for the remuneration and grading system but also for the associated involvement of the committees and reporting requirements.

He laid the foundation for his extensive expertise at the beginning of his career in 2012, when he contributed to the development of the consultancy in numerous external and internal projects in the early years of the hkp///group.

Oliver Baierl, Senior Director
Phone +49 69 175 363 369
oliver.baierl@hkp.com

Oliver Baierl

Oliver Baierl, Senior Director
Phone +49 69 175 363 369
oliver.baierl@hkp.com

Regulatory Framework

The German InstitutsVergV and VersVergV, and the EU Guidelines on Sound Remuneration Policies etc. have raised the stakes for companies to operate both efficiently and regulatory compliant.

From Isabel Jahn, Oliver Baierl

Regulation and supervision of financial institutions and insurance companies has increased worldwide since the financial and economic crisis in 2008/09. Financial institutions, in particular, are now subject to the rules of the Basel Committee on Banking Supervision, which was set up in response to the crisis. These rules have already been revised twice since then. Basel II, and its Basel II.5 update, were still mainly concerned with capital adequacy requirements. Since Basel III however, global liquidity standards are planned to supplement the earlier mainstays.

The Basel III rules have been enacted in the Member States of the European Union by means of the Capital Requirements Directive (CRD) and the Capital Requirements Regulation (CRR). In addition to the CRD and CRR, the European Union has also introduces more specific rules for certain institutions in the financial sector. For instance, the Alternative Investment Fund Manager Directive (AIFMD ) and the Undertakings for Collective Investment in Transferable Securities Directive (UCITS) places particular regulatory requirements on asset managers.

Remuneration in the relevant institutions plays a major role in these Directives. One example for German banks is the Bank Remuneration Regulation (InstitutsVergV), which includes specific provisions for remuneration of chief executives, risk bearers, non-risk bearers and monitoring units. The „Guidelines on Sound Remuneration Policies under the AIFMD“ includes similar, but less stringent, provisions for asset managers.

Insurance companies are also subject to specific requirement, mainly contained within the Europe-wide solvency regulations. Only a handful of insurance companies are still subject to the German Insurance Remuneration Regulation (VersVergV).

The various regulatory requirements pose a variety of questions for regulated companies with regard to their remuneration systems, e.g:

Which elements are to be included in the total remuneration package? What should be the ratio between these elements?
Are there any special structuring options and restrictions for particular groups of employees, such as risk bearers?
How can variable remuneration provide targeted incentives and also include any risks being taken?
How can, or must, employees’ performance be measured.
What must be included in the reports to internal bodies and external authorities?
What are the conditions under which companies are able to pay variable remuneration?

hkp/// group helps companies in the financial industry to find answers to these and other questions, and also with operationalizing the regulatory requirements within their remuneration systems. Our experienced experts come with a wealth of knowledge both from their work on consulting projects and extensive operational experience as personnel managers in relevant businesses.

You would like to know more about this topic?

Arrange a (telephone) appointment with Isabel Jahn

Subscribe to our newsletter!