“The Board has a vital role to play in defining our behaviours and how we grow the business.”
Dan O'Connor, Chairman
Good governance is needed to ensure that oversight is properly exercised within our business, it is an essential pre- requisite to underpin the sound decision-making needed to drive forward our new business initiatives and transformational change.
We are committed to being a responsible, purpose-driven business which delivers great service to our customers and creates value for our stakeholders, notwithstanding challenging market and regulatory conditions. Good governance is essential to support our strategic priorities and the Board has a vital role to play in defining our behaviours and how we grow the business.
Our businesses provide small-sum, unsecured consumer loans and lines to customers who are underbanked and underserved by mainstream credit operators and it’s vital we lend responsibly. We have a strong ethical culture embedded throughout the Group and it is the Board’s role to ensure this continues to be the case. We also make sure that our performance management and reward system help to support and encourage the right behaviours.
Taking the right decisions and ensuring that we do the right thing by our stakeholders are already recognised facets of our corporate culture. Our Code of Ethics (Code) sets out our ethical standards in relation to our key stakeholders including our people, agents, customers, investors, communities and wider society, business partners and the natural environment. The Code represents our standard across the business regardless of employment level, geographical position or local culture.
We have established a number of supporting mechanisms and processes throughout the business to ensure that ethics plays a part in both our strategic and day-to-day decision making. We maintain internal mechanisms to expose any deviations from the Code as well as a third party, confidential whistleblowing service.
There is a formal schedule of matters reserved specifically for decision by the Board which is reviewed annually. Other matters are delegated specifically to the principal Board Committees. The Chairman of each Committee briefs the Board at each meeting on the principal items that were discussed, decisions made and key issues. The management of the business is delegated to the Executive Committee which comprises the Chief Executive Officer and the Chief Financial Officer. The Executive Committee considers matters relating to the day-to-day running of the business, where specific matters require approval.
Our governance framework extends to operational activities, with decision-making and oversight responsibilities delegated to Group governance committees.
Our Board bring together extensive experience of working in international markets, consumer finance and digital technologies.