Our performance is supported by strong
The Board receives regular updates on sustainability which cover key material issues such as business ethics, responsible lending, community investment and environmental management. We also have a clear internal governance structure for sustainability which includes:
UK Executive Team
- Meets twice a month and is chaired by the Chief Executive Officer who is also the board representative for sustainability.
- Membership includes the Chief Financial Officer, the Chief Legal Officer and Company Secretary, the Chief Human Resources Officer, the Group Strategy and Planning Director, the Group IT Director, the Group Credit Director and the Group Corporate Affairs Director.
- Conducts an annual review of legal and regulatory policies and the regulation compliance matrix.
- Reviews the Group’s compliance with key legislation and regulatory requirements.
- Monitors external reviews and challenges received from regulators.
- Reviews reputation, communication and sustainability policies and makes sure that compliance monitoring is in place.
- Overviews compliance related standing agenda items.
Country Management Team
- Meets three times per year and is chaired by the Group Strategy & Planning Director.
- Membership includes the Country Managers of all home credit and digital businesses.
- Monitors changes to be made to legislation or any proposed changes to be made and ensures that the business is prepared.
- Monitors reputational positioning and media coverage in all markets.
- Defines ethical standards and oversees the delivery of the Group-wide ethics programme.
- Conducts an annual review of the expenditure on corporate donations, community programmes and charitable support.
- Group governance is provided by the central HR team in the UK and people processes are deployed by local HR teams in the markets.
- Employee matters are managed by local HR teams within each business and are supported by the central HR team in the UK.
- The Chief Human Resources Officer is a member of the UK Executive Team the agenda for which includes people issues. Additionally, a full review of people, performance and succession is conducted in the first quarter of each year.
- The Chief Human Resources Officer reports regularly to the Board on the Group’s People Strategy.
- All local HR directors attend a monthly conference call which is led by the Group Chief Human Resources Officer and local HR directors attend their local management board meetings.
- The non-executive and nominated workforce and stakeholder engagement director leads the review of stakeholder engagement reports and assists the Board in considering and balancing the interests of our people as the Board conducts its work.
- A biennial Global People Survey measures employee and agent engagement and provides insights on diverse matters including work-life balance, leadership and sense of belonging. People managers develop action plans targeted to the specific feedback of their teams.
- All employees and agents are asked to complete our annual business ethics training which is regularly updated.
Group Credit Committee
- Meets every month and is chaired by the Group Credit Director.
- Membership includes the Chief Executive Officer, Chief Financial Officer, Group Strategy Director and representatives from Loss Prevention and Finance.
- Conducts an annual review of the Group credit and collection policies and recommends their approval to the Board.
- Ensures each market of operation has a credit and collection policy which complies with the Group policy and which has been formally approved by the local credit committee and local management board.
- Reviews the actions and recommendations arising from the regular review of credit and collection performance of the Group.
- Monitors and considers any impacts of broader economic, political, regulatory or competitive landscape changes, and proposes appropriate actions where necessar
- Reviews the risk register relating to credit and ensure mitigating actions are identified and adequately pursued.
Group Loss Prevention Committee
- Meets every quarter and is chaired by the Group Head of Loss Prevention.
- Responsible for setting the Group strategy, policy and objectives on safety, information security, fraud (including anti-money laundering) and business continuity.
- Monitors compliance with policy and progress against objectives ensuring that business activities comply with relevant legislation.
- Reports compliance exceptions to the UK Executive Committee.
- Reviews key incidents, their cause and lessons identified. Makes recommendations to improve performance.
Local Customer Experience Committee
- Meets quarterly and is chaired by the local Marketing director.
- Membership includes the local country manager; the directors for Sales, Human Resources, Credit Risk, Finance and Corporate Affairs; the heads of Sales and Service, Customer Service Centre, Legal and Compliance.
- Responsible for executing the customer experience strategy, enhancing the customer experience and fostering an organisational customer focused culture.
- Monitors customer experience KPIs and reviews the performance of customer focused activities.
- Shares customer insights and proposes customer focused activities based on customer feedback.
- Reviews key issues and risks that might affect customers and defines the appropriate actions to address them.
Corporate Affairs Leadership Group
- Meets every month and is chaired by the Group Corporate Affairs Director.
- Membership includes local Corporate Affairs directors and the UK Corporate Affairs team.
- Agrees Groupwide corporate affairs goals; ensures new initiatives and improvements are rolled out across the business.
- Reviews sustainability, communication, public policy and stakeholder engagement.
- Considers local perspectives on the Group issues.