GOVERNANCE
FINANCIAL STATEMENTS
strategic report
NON-FINANCIAL INFORMATION STATEMENT
This statement sets out how we comply with the non-financial reporting requirements set out in sections 414CA to 414CB of the Companies Act 2006 and where you can find further information on those matters in the Annual Report.
OUR BUSINESS MODEL Just has a compelling, clear purpose, to help people achieve a better later life by providing financial advice, guidance, competitive products and services to those approaching, at or in-retirement. Our business model is centred around creating long-term value focusing on attractive segments of the UK retirement income market. Our priority is to convert the growth opportunities in our markets to deliver positive outcomes for customers, shareholders and colleagues. Our business model sets out our growth opportunities, how we create value and who we create value for. NON-FINANCIAL KEY PERFORMANCE INDICATORS The Board does not currently monitor any non-financial key performance indicators, but it receives reports and management information regarding key non-financial matters such as business change initiatives, the investment programme, operational performance and colleague- related matters. The discretionary bonus plan for colleagues uses stretching financial and non-financial metrics to determine the bonus pool which the Board and Remuneration Committee review.
OUR NON-FINANCIAL POLICIES We have non-financial policies which govern how we do business and how we interact with our stakeholders to help ensure that we have a positive impact and fulfil our purpose. Our policies reflect our commitment to act ethically and with integrity in all of our business relationships. We are also mindful and focused on our financial and capital position. This in turn enables us to protect our stakeholders by growing the business sustainably. During 2022, the Group policy framework was refreshed to ensure that all policies collectively demonstrate how all core risks to the business are effectively controlled. This table outlines Just’s key policies relating to anti-bribery and anti-corruption, environmental and social matters, colleagues and respect for human rights, which are in scope of the reporting requirements contained in the Companies Act 2006.
REPORTING REQUIREMENT AND JUST’S MATERIAL AREAS OF IMPACT
RELEVANT POLICIES AND FRAMEWORKS
Sustainable investment framework A framework used by our Investment team. Refer to our Sustainable investment strategy report. Procurement and outsourcing policy Ensures that high standards of honesty, impartiality and integrity are maintained in our business relationships. It ensures that contractual arrangements with third parties are undertaken with due regard for the associated risks. Board diversity policy Refer to the Nomination and Governance Committee report. Capacity and capability policy Addresses the risk of insufficient employee numbers, lack of skills/capabilities or non-availability of required capabilities. Fitness and propriety policy Sets out a framework for appropriate processes and procedures to ensure compliance with the FCA’s Senior Managers and Certification Regime. Group conduct and operational risk policy Sets out the statement of principles for ensuring that the risk that decisions and behaviours lead to detrimental or poor outcomes for customers and/or the risk of loss arising from failed or inadequate processes and systems, from people or from external events are monitored, managed and reported. Conduct risk framework Sets out the framework of principles, systems and controls around the management of conduct risk by the Group and encompasses regulatory requirements such as integrity, market conduct, customer interests, communication with customers, skill, care and diligence, and conflicts of interest. Conflicts of interest policy Sets minimum standards and provides guidance to statutory Directors and other personnel whose activities with customers, colleagues and third parties may give rise to a conflict of interest or potential conflict of interest. Whistleblowing policy Sets out the framework to encourage colleagues to feel safe in raising any suspicions of wrongdoing to the attention of the Board and senior management.
ENVIRONMENTAL MATTERS • Delivering net zero targets • Managing climate-related issues • Carbon performance, metrics and targets • Responsible resource use – water and energy use, air emissions
COLLEAGUES • Culture and ethics • Health and safety
• Inclusion and diversity • Rewards and benefits • Training and career development
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