Changes in the regulatory landscape, new approaches to assessing banks’ financial standing, and ongoing discussions around draft regulations underscore the Bank of Russia's sustained focus on the governance of the remuneration system (RS). The RS assessment was a central topic at FBK's recent webinar ‘Bank of Russia Instruction No. 154-I: Analysis of Independent Remuneration System Assessment Practices’.
Anastasiya Terekhina, Senior Partner at FBK, ACCA, moderated the event. Opening the discussion, she pointed out that the regulator maintains rigorous oversight over the actual operation of the motivation system—making it all the more important for banks to structure their remuneration frameworks not only to meet regulatory requirements but also to serve as an effective risk management tool.
Ekaterina Shishkina, FBK’s Head of Practice at Audit and Advisory to Credit and Non-Credit Financial Institutions, shared the methodology for conducting an RS independent assessment.
Tatiana Shalunova, Lead Expert at Audit and Advisory to Credit and Non-Credit Financial Institutions at FBK, spoke about the 2026 regulatory developments and future prospects. She highlighted joint recommendations issued this year by the regulator and the Russian Ministry of Finance on long-term incentive programmes (March 2026), as well as the Bank of Russia's June 2026 report, which announced a revision of the supervisory assessment methodology for remuneration systems beginning in 2029. She also gave an overview of common deficiencies identified during independent assessments of the RS. The expert discussed in detail the most frequent errors made by credit institutions—from incorrect delegation of authority by the Board of Directors and gaps in the composition of the Remuneration Committee to issues with payment classification, formation of risk-taker lists, and the application of deferred bonus tools. She also addressed queries from extensive webinar audience.
Still have questions about remuneration system assessment? Let us discuss your RS specifics and select an engagement that best fits your needs—from an advisory report to an ISAE 3000 assurance opinion. Contact us for a consultation.
