Strategic Report | Governance | Financial Statements | 57
S172 FACTOR
EXAMPLES OF MATTERS THE BOARD HAS REGARD TO
• Company’s purpose; • Strategy;
The Board has regard to all of our stakeholders when developing and executing our long-term strategy. Our business model is reviewed at least annually taking into consideration our Company’s purpose, strategy, key stakeholders, risks, and addressing the changing regulatory environment.
LONG TERM
• Business model; • Key stakeholders; • Risks including emerging risks; and • Regulatory framework. • Colleague engagement; • Diversity, equity, inclusion and belonging; • Education and training; • Hybrid working; and • Wellbeing. • Anti-bribery and anti-corruption; • Modern slavery; • Responsible payment practices;
Ensuring colleagues feel proud to work at Just, with good levels of engagement, strengthening our talent, capabilities and inclusivity, and building well led, high performing teams have been key strategic focus areas for the Board during 2023. Our Colleagues and culture report on pages 50 to 53 details Just’s commitment to colleagues’ interests, diversity, equity, inclusion, belonging, colleague engagement, education and training, hybrid working and wellbeing. The Board is committed to fostering the Company’s business relationships with suppliers, customers and other stakeholders. Pages 54 and 55 detail our relationships with our principal suppliers and customers, as well as other stakeholders, and how we engage, what matters to them and how we have addressed any challenges they have raised with us. We ensure all supplier-related activity is managed in line with ethical business practice with regard to anti-money laundering, anti-bribery and corruption, whistleblowing and anti-slavery and human trafficking laws. The Board is responsible for the oversight of implementation plans by relevant business areas to ensure that the Consumer Duty requirements are met and that customers receive good outcomes. Ensuring the fair treatment of vulnerable customers also continues to be an important area of focus for the Board. Further information on our focus on supporting vulnerable customers can be found on page 63. The Board recognises Just’s place in society and has reaffirmed the Group’s purpose of helping people achieve a better later life. The Group continues to invest in community initiatives through various programmes and provide support to its corporate charity partner, Hourglass, as summarised in the Colleagues and culture report. Just also encourages colleagues to participate in a range of volunteering activities that are aligned to our purpose of helping people achieve a better later life by entitling every colleague to one day’s paid leave for volunteering purposes per year. Following the adoption of Just’s sustainability strategy by the Board, a number of initiatives have been developed to deliver the Group’s sustainability ambitions, which includes leaving a responsible footprint. Pages 40 to 49 outline the Group’s sustainability strategy and how it aligns with Just’s strategic priorities. We understand that the expectations and requirements of the society in which we operate are set through legislation and regulation. We receive feedback from stakeholders including our regulators, the PRA and FCA, as well as other relevant bodies. The Board actively listens to our stakeholders’ feedback and takes it into account when making judgements and taking decisions. Our intention is to ensure that Just and our colleagues operate the business in an ethical and responsible way. A healthy corporate culture is the cornerstone of high standards of business conduct and governance. The Group Risk and Compliance Committee receives bi-annual reports on risk culture including key themes requiring further attention. Everything Just and our colleagues do should be delivered sustainably and is underpinned by our four behavioural principles of for our customers, dynamic, always adapting, and collaborative, which we collectively call the “Just Way”. The Board has overall responsibility for establishing and maintaining the Group’s systems of internal control and for undertaking an annual review of the control systems in place to ensure they are effective and fit for purpose. The Group Audit Committee ensures there is sufficient oversight of the management of the systems of internal control and provides regular updates to the Board on how this is achieved. The Group Audit Committee reviews and approves the Group’s Whistleblowing policy annually. The Group has a dedicated whistleblowing hotline and portal that allows colleagues who suspect fraudulent, illegal or unethical behaviour by co-workers to report the matter through an independent and confidential service. We receive capital investment from shareholders and from debt investors. Without their investment we would not be able to achieve our purpose. We maintain regular dialogue with our shareholders, potential investors and research analysts to give them an opportunity to learn more about Just’s strategic priorities, trading conditions and other factors affecting our business. Our Annual General Meeting provides another opportunity for investors to meet with our Directors. See pages 54 and 55 for the various ways in which we engage with our different investor groups. Following a review of the dividend policy, the Board concluded to recommend dividend payments in 2023.
COLLEAGUES
BUSINESS RELATIONSHIPS – SUPPLIERS AND CUSTOMERS
• Consumer Duty; and • Vulnerable customers.
• Community programme; • Charity partnerships; • Climate change and environmental impact; and • Sustainable investments.
COMMUNITY AND ENVIRONMENT
• Just Group brand; • Culture and values; • Awards and recognition; • Internal controls; and • Whistleblowing.
HIGH STANDARDS OF BUSINESS CONDUCT
• Shareholder engagement; • General meetings; • Education initiatives; and • Dividend policy.
INVESTORS
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