基于风险控制理念的银行业薪酬监管:欧美国家的实践及对中国的启示

Compensation Regulation in Banking Sector Based on the Philosophy of Risk Control: Practice in European and American Countries and Its Implications

银行业不合理薪酬制度导致其过度风险承担,成为国际金融危机的重要诱因,风险控制成为引领银行业薪酬制度改革的重要理念。以欧盟和美国的银行业薪酬监管政策、实践为例,比较分析以风险控制为目标的薪酬制度监管要点,包括界定清楚接受薪酬监管人员对象,对薪酬结构进行相应的规定或限制,对薪酬进行充分的风险考量和事后的风险调整,根据银行机构的特点实施相称性监管等。借鉴欧美的监管经验,中国监管当局应该将监管的人员对象的有关规定细化,清楚界定对风险具有重要影响岗位上的员工;进一步推动薪酬核定、支付方式及机制等改革,将银行员工个人利益与银行长期利益结合在一起;协调推进薪酬制度与公司治理机制的改革。

Inappropriate compensation practice in banking sector may result in excessive risk taking and becomes a major cause for the occurrence of international financial crisis. Risk control becomes the essential principle of compensation reform in banking sector. Focusing on the compensation regulations and practice in EU and the U.S, this paper explores the key points in building the risk-based compensation framework, including clearly identifying the regtdation targets, setting standard or limitation on compensation structure, thoroughly reviewing the risks and making ex-post adjustments for compensation, performing the proportionality principle in regulating banking institutions by their characteristics. Learning from the EU and the U.S. the Regulators in China should refine rules concerning compensation targets and clarify banking staff who poses great threat, put forward the reform about compensation calculation, means of payment and adjustment mechanisms for the purpose of tying employee＇s personal interest with institution＇s long-term interests, and align compensation management with corporate governance.