Strategic Report | Governance | Financial Statements | 55
STRATEGIC PRIORITIES
1. 2. Transform how we work 1. 2. Grow through innovation
Be proud to work at Just Grow sustainably
4.
5.
Get closer to our customers and partners
3.
WHAT MATTERS TO THEM
HOW WE ADDRESS THESE CHALLENGES
• Security and peace of mind that Just will deliver on its promises; • Advice they can trust; • Good value for money; • Product differentiation; • Quality of service delivered; and • Reputation of the Company.
• Behave prudently and have strong, effective governance to ensure we always meet the promises we make to our policyholders, and that due care and attention is given to customer outcomes; • Continue to invest in our colleagues and infrastructure to ensure we maintain our reputation for service design and delivery, evidenced by our awards for outstanding service; • Differentiate our products offering unique features to customers such as our medically underwritten Just For You Lifetime Mortgage (“LTM”) which offers personalised terms for customers; • Further investment in our Just For You LTM automation initiative to enhance the LTM digital adviser services; and • Offer Destination Retirement, a financial planning service that provides tailor-made advice to individuals approaching or transitioning into retirement after work. • Ongoing development of strong asset sourcing capability that delivers pricing advantage; • Selectively participate in bulk annuity tenders and deploy our innovative defined benefit partnering solution to preserve capital and help maintain our secure counterparty credentials; • Regular attendance at client trustee board meetings to update them on their Just Buy-in assets; • Hosted a wide range of events to share knowledge; and • Offer a bulk quotation service to provide early visibility of insurer pricing. • CEO quarterly briefing sessions for all colleagues to reiterate Just’s purpose and provide a business update on key initiatives to deliver our strategic priorities the Just Way and help people achieve a better later life; • Non-Executive Director engagement with colleagues to bring their voice into the boardroom; • Informal Executive sessions with colleagues to discuss matters that are important to them; • Employee engagement surveys and action planning at a Group, functional and local level; • Developing colleagues through in-role experience, coaching, mentoring, online learning and training; • Continued to make strong progress with respect to our commitment to build a diverse workforce and an inclusive culture at Just, for example through events as part of National Inclusion Week and Belonging at Just Week; • Offer support and guidance for our colleagues built around mental, physical, social and financial wellbeing; • Continue with a hybrid way of working to encourage collaboration and innovation, and to sustain Just’s culture; • Provide volunteering opportunities to make a positive impact in our local communities; and • Encourage sustainability initiatives through Pawprint, an app to support colleagues reduce their carbon footprint. • Held meetings with shareholders to engage on Just’s performance and strategic developments, and to discuss any issues or concerns; • Held seminars for investors and potential investors to discuss areas such as Just’s Defined Benefit de-risking strategy and the Group’s investment strategy, with webcasts published on our website; • Further refined our strategy with clear, specific goals driven by appropriate priorities; • Regional roadshows and attendance at multiple investor conferences, including outside of the UK; • Payment of dividends to shareholders; and • Continued our focus on refreshment of the Board. • Continue to respond to regulators in a timely and constructive manner and engage directly on any key regulatory matters and thematic reviews; • Implemented plans to ensure that the FCA Consumer Duty requirements are met and that customers receive good outcomes; • Active participation in policy development directly with regulators and via trade bodies; and • Timely preparation and filing of regulatory returns. • Our procurement and outsourcing policy ensures that tender processes are fair and transparent, and all suppliers receive feedback on submissions. All suppliers are expected to adhere to relevant legislation and regulatory regimes, and to act ethically and with integrity. Risk-based profiling ensures all suppliers receive the relevant level of governance oversight and interaction with Just; • Clearly defined performance metrics are agreed with our key suppliers at the outset to measure ongoing success; and • Supplier Code of Conduct: A regulatory obligation for Just to make new suppliers aware of relevant internal policies. • Offer helpful tips and guidance on topics relating to retirement on our customer website; • Initiatives to raise awareness in the financial advice community to support the needs of vulnerable customers; • Continued partnership with Hourglass, a national charity whose mission is to end the harm, abuse and exploitation of older people in the UK; • Continue to make progress to reach our carbon net zero targets; and • Continued partnership with EcoTree, a sustainable forestry management company, to plant trees, as one of our sustainability initiatives.
• An insured solution that offers certainty for trustees and security for members; • Financial strength and strong counterparty; credentials that deliver security for advisers, trustees and their members; • Reputation of the Company and service quality; • Access to the defined benefit de-risking market for smaller transactions; • Policyholder experience and service quality; and • A secure asset portfolio with ESG and sustainability at its heart. • The Group having a clear vision and purpose; • A brilliant employee experience; • A listening culture to share views; • Having the opportunity to grow and develop; • Diversity, equity, inclusion and belonging initiatives; • Wellbeing; • Hybrid working; and • Strong community and environmental credentials. • Deliver a sustainable business model; • Returns on investment; • Scheduled interest payments and managing the capital base prudently; • Business performance and executing on opportunities available; and • Operate in a socially responsible and sustainable manner. • Board and senior management understand the regulatory objectives, and seek to ensure good consumer outcomes are achieved and policyholder commitments are met; • A culture that supports adherence to the spirit and letter of regulatory rules and principles; • Foster open and transparent communications with our regulators; and • Positive engagement to encourage effective competition and consumer protection which results in better customer outcomes. • Collaborative relationships with open, honest and transparent communications; • Fair, transparent and objective process and evaluation criteria when bidding for new business; and • Fair payment terms which are consistently met within deadlines. • Offering support and information to help individuals transition from work to retirement; • Providing support for vulnerable customers; • Support fundraising efforts in local communities; and • Leave a responsible footprint.
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