Strategic Report
Financial Statements
Governance
81
The Board has delegated responsibility for implementing the strategy and business plans, and for managing risk and operating effective controls across the business to the Group Chief Executive Officer who is responsible for the day-to-day leadership of the Group in accordance with the purpose, values, behaviours and culture set by the Board. The Group Chief Executive Officer has established a committee of senior executives to assist him with the discharge of the duties delegated to him by the Board (the “Group Executive Committee”). The Group Executive Committee is responsible for: • implementing the strategy set by the Board and recommending strategic developments to the Board; • business risk management and the oversight of the implementation of effective controls to manage and mitigate risks; • executing plans to meet the sustainability commitments that the Board has set; • recommending the business plan and budgets to the Board for approval; • monitoring the Group’s performance; • implementing and oversight of processes which govern how we do business and how we interact with our stakeholders; and • development and oversight of initiatives to ensure colleagues feel well led, managed and supported with opportunities for development. There is also a Group Executive Risk Committee (“ERC”) chaired by the Group Chief Risk Officer, which focuses on risk management across the Group. This includes oversight of risk appetite, risk controls, and regulatory and compliance matters. The ERC considers reports from management before they are presented to the GRCC.
CULTURE, VALUES and behaviours The Board seeks to ensure that Just’s culture, values and behaviours remain aligned with our purpose, recognising that they are integral to the success of Just. Our Directors are committed to growing and fostering a strong culture and values, and the Board monitors progress across the Group in a number of ways. Some examples of how the Board and its Committees monitor culture are provided below. The Board’s collective responsibility for safeguarding Just’s culture is an important aspect of its role. It aims to set a clear tone from the top and lead by example through strong custodianship over the Just brand and promoting and embedding our values. During the year, the Nomination and Governance Committee reviewed a paper on the Board’s role in assessing, measuring and monitoring culture. It considered and agreed various recommendations to enhance the Board’s oversight in 2025 and beyond. WHISTLEBLOWING A healthy culture is one where everyone feels able to speak up, in the event of wrongdoing. Just’s Whistleblowing Policy is reviewed and approved by the Group Audit Committee at least annually. Colleagues across the Group are encouraged to raise any matters of concern with our Group Company Secretary or anonymously through our dedicated and independent whistleblowing hotline or portal. The Group Company Secretary leads the review and response from relevant areas of the business, and raises the matters with the Group Audit Committee Chair, who is the whistleblowing champion. Regular reports are provided to the Group Audit Committee on the operation of the policy, including an overview of the steps taken to ensure colleagues are aware and understand the whistleblowing process and associated protections.
HOW THE BOARD MONITORS CULTURE The following is a non-exhaustive set of examples of how the Board and its Committees monitor culture at Just.
Internal Communications The Directors have access to HQ, Just’s intranet, which publishes the latest news, updates on network activities and events, recognition articles, guidance material and the colleague magazine, US., which all provide an insight into culture at Just. Board reporting The Board receives regular updates from the Group Chief Executive Officer on major areas of focus, centred around the Group’s strategic priorities, which include Be Proud to Work at Just. The Board also receives updates on colleague-related initiatives from the Group Chief People Officer. Risk Culture Key risk indicators focused on risk culture have been developed that are reviewed bi-annually by the GRCC. This provides an opportunity for the Directors to consider positive developments and areas requiring more focus by the business.
Informal Channels Useful stakeholder feedback is received via informal channels that relates to or potentially impacts Just’s culture or values, which can inform Board discussions or decisions.
Colleague Engagement Surveys
Non-Executive Director Engagement Non-Executive Directors participate in “Take on Board” sessions directly with colleagues. These sessions are framed around various themes including culture, diversity, inclusion, and remuneration alignment. Town Halls The Group Chief Executive Officer leads regular interactive “Town Halls”, which are important touchpoints in terms of promoting our culture and providing an opportunity for colleagues to hear and ask questions about key initiatives, results and events in an engaging format. Whistleblowing The Group Audit Committee is responsible for the oversight of whistleblowing matters. It receives updates on whistleblowing activity, including incidents, investigations and outcomes.
The Board reviews results from colleague engagement surveys, which include questions on culture, and receives updates on action plans which are developed based on feedback received. Diversity, Equity, Inclusion and Belonging The Nomination and Governance Committee monitors Just’s diversity, equity, inclusion and belonging strategy and the Board receives updates on the various initiatives undertaken by the business to create an inclusive workplace, which is a key element of our culture.
Remuneration The Remuneration Committee ensures that our approach to remuneration is aligned with Just’s culture. It sets Short and Long Term Incentive Plan metrics, which are aligned with the Company’s expected behaviours and values. Customer Call Listening Sessions During the year, some of our Directors attended a customer call listening session, which brought to life how our Customer Service Contact team provide the “Just” experience on calls with customers, as covered in more detail on page 61.
Board Champions The Board has designated specific responsibilities to
various Non-Executive Directors in relation to Consumer Duty, employee engagement, sustainability and whistleblowing who provide updates to the Board on their insights.
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