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Santander Way
We’re a global enterprise with a common culture that guides all of us, from branch staff to the board of directors. In 2015, we began a new chapter with the launch of The Santander Way.
The Santander Way covers our purpose to “help people and businesses prosper” and our vision “to be the best open financial services platform by acting responsibly and earning the lasting loyalty of employees, customers, shareholders and broader society”. To achieve that, our Simple, Personal and Fair values; our risk culture, Risk Pro, where “risk management is everyone’s job”; and our behaviours (T.E.A.M.S.) shape our way of working every day.
Our purpose
To help people and businesses prosper
Our vision
To be the best open financial services platform by acting responsibly and earning the lasting loyalty of employees, customers, shareholders and broader society
Everything we do at Santander must be:
Simple
We offer customers an accessible service, with simple and easy-to-understand products. We use simple language and enhance our processes every day.
Personal
We take a personalized approach with our customers by offering them products and services that are tailored to their particular needs. We want each and every employee and customer to feel valued and treated in a unique way.
Fair
We treat our employees and customers fairly; we’re transparent and deliver on our goals. We enjoy good relationships with all our stakeholders because we understand that what’s good for them is also good for Santander.
Corporate behaviours
The corporate behaviours are the main component of our culture and should guide our way of working and how we live and breathe the Santander brand. Companies with a strong internal culture attract and retain talent.
We came up with our behaviours based on a single word: T.E.A.M.S. Each letter stands for a behaviour so they are easier to understand and memorize. Below are more details about each behaviour:
Think Customer
I care about our customers and go the extra mile to earn their trust and loyalty.
Embrace Change
I embrace new challenges and see new ways of doing things as an opportunity to grow.
Act Now
I take accountability and manage risks accordingly, and always keep things simple.
Move together
I promote collaboration and work with my colleagues to achieve common goals.
Speak up
I convey my ideas and concerns and escalate issues or risks to foster an environment of respect and trust. I am comfortable sharing and receiving feedback.
Listening to our employees
Your Voice is our listening mechanism to obtain feedback from employees and teams across our footprint and to gauge progress and put forward action plans that enable us to continue making strides.
Global Employee Engagement
✰ 8.5 (out of 10)
Average engagement score with 80% participation
We want to provide our teams with the best experience
We offer flexible and agile working patterns, with opportunities to grow and to take part in inspiring projects that drive our transformation.
Lifelong learning and career development are the key to success for our employees and the organization as a whole.
Training
8.6/10
Average employee rating of the statement “I am satisfied with the learning experiences that Santander offers me”.
We foster an inclusive culture that is based on merit and equal opportunity, where we listen to everyone and enable them to contribute to change. This helps bolster their sense of belonging and commitment to the organization.
INCLUSION
8.9/10
Average employee rating of the statement “I can be myself at Santander”.
8.9/10
Average employee rating of the statement “In my experience, we have the same opportunities, regardless of origin or identity”.
MyContribution is our common Group performance review model that guarantees meritocracy.
Moreover, our employees enjoy special terms and conditions for pension plans, banking products and services, and health and life insurance.
We promote a healthy lifestyle and work/life balance. In 2024, over 64,000 employees took part in the BeHealthy activities (which follow the programme’s four pillars) we ran in the Group.
BeHealthy
Physical well-being
We encourage our employees to move both in- and outside of work and to know their numbers, set targets, and come up with an action plan to achieve them.
Emotional well-being
We focus on self-awareness, managing emotions and creating an environment that allows for sound mental health in the organization (including support services).
Social well-being
We foster strong interpersonal relationships at the workplace and at home as one of the most important components to enhance quality of living. We also encourage our employees to volunteer to help make society a better place.
Financial well-being
We run courses on savings, investments, pensions and insurance, because knowing how to manage personal and household finances properly is key to a stress-free life.
8.6/10
Average employee rating of the statement: “I am satisfied with the health and well-being benefits and services at Santander ”.
Risk culture
Our risk management and compliance is key to us remaining a solid, secure and sustainable bank that helps people and businesses prosper.
1. Core risks at Santander*
We classify and analyse all risk types so we are prepared to address them:
The risk of financial loss when a customer or related third party fails to fulfil their contractual obligations.
The risk that stems from movements in interest rates, foreign exchange, commodity prices and other market variables that can impact on our results or solvency.
The risk that liquid financial assets are insufficient or too costly to obtain in order to meet liabilities when they fall due.
The risk of changes to the value of certain assets or results due to fluctuations in market variables that impact on the bank’s balance sheet. It includes insurance and pension risk, as well as capital risk (insufficient amount of capital to meet business objectives or regulatory requirements).
The risk of loss due to shortcomings and failures relating to processes, employees and internal systems, or external events. It includes legal risk but not strategic or reputational risk.
The risk that stems from illegal activity involving Santander’s resources, products and services. It includes money laundering, terrorism financing, violation of international sanctions, corruption, bribery and tax evasion.
Models that are poorly developed or misused in decision-making can have negative consequences, including financial loss, poor decision-making and strategy, and harm to the Group’s operations.
The risk of loss due to damage to the bank’s reputation among employees, customers, shareholders, investors and broader society.
The risk of loss or damage arising from strategic decisions or their poor implementation, or the inability to adapt to external events, which may impact the medium- and long-term interests of our key stakeholders.
*Cross-cutting for all risks. Environmental, social and governance (ESG) risk factors. Factors that can impact on existing risks across varying time horizons.
Our risk management model is based on common principles, a solid culture, a clear governance structure, and advanced management processes according to risk type.
2. Our risk and compliance model
Our risk management model is based on common principles, a solid culture, a clear governance structure, and advanced management processes according to risk type.
It is underpinned by:
A three-lines-of-defence model with risk governance that pursues the independence of the second line in the exercise of its duties and effective oversight of all risks according to our risk appetite:
- 1st line: Who takes and manages risk? The business function and support units.
- 2nd line: Who supervises and challenges risk management independently? The risk and compliance function.
- 3rd line: Who makes sure that processes, control systems, risk management and governance are effective? The internal audit function.
Advanced risk management tools
Risk profile assessment
A systematic exercise that follows a single methodology to assess the risk profile of the Group and its subsidiaries that considers all risk types as set out in the corporate framework.
Scenario analyses
Foresee potential impact and take preventative measures.
Risk appetite and limit structure
The volume and type of risks we deem prudent for our business strategy, even in unforeseen circumstances.
Risk reporting structure
Complete, versatile and based on comprehensive analysis to aid decision-making.
9.1/10
Average employee rating of the statement: “The Group’s leaders often stress the importance of risk management in our day to day”.
8.3/10
Average employee rating of Santander’s performance: Development and remuneration frameworks drive people to manage risks effectively.
3. A solid risk culture
What is Risk Pro?
It’s Santander’s risk culture, a pillar of our Group culture (The Santander Way), and a key lever in helping people and businesses prosper.
What Risk Pro comes down to is individual accountability for the risks taken in our day to day and our contribution to identifying, assessing and managing (and escalating, where necessary) all risks appropriately and professionally. That's every risk, everywhere, at any time, and by every employee.
Moreover, Santander promotes a culture of ethics and compliance among employees through training, awareness campaigns and a confidential whistleblowing channel (Canal Abierto).
We must all play an active role, anticipate risks, be alert to identify potential risks in our day to day, and manage them appropriately or escalate them if they are beyond our scope of action.
