Governance and management
Our commitment to managing our CR impacts and to embed this commitment into the fabric of our business activities, comes from the very top of the company. Our commitment to deliver value to our customers, shareholders and other stakeholders in a responsible and sustainable way is enshrined in our mission and values.
Provident Financial is a financial services group specialising in the provision of personal credit products for consumers in the UK non-standard lending market.
“We continue to take our corporate responsibility seriously: lending responsibly to our customers, investing in the communities we serve, minimising our impact on the environment, and fulfilling our responsibilities to all our stakeholders.
“We have sought to systemically manage the social, environmental and economic issues that are material to our business activities for well over a decade now. In this time, we have established a well-developed and well-regarded community outreach programme which invests significant amounts in local, grass-roots projects, touching the lives of many people who often live in deprived communities. We have also supported our partners in the money advice sector and financial research projects that benefit society at large.
Our disclosures on our corporate responsibly performance have been comprehensive and consistent, enabling us to continue to be included on the main global sustainability indices such as the FTSE4Good and Dow Jones Sustainability Indices. This allows us to foster good relationships with investors and financial analysts, as well as bringing mainstream sustainability issues into our investment case.”
Our commitment to corporate responsibility
Acting responsibly and with integrity in all we do is a fundamental part of our overall strategy and the bedrock of long-term value creation. Our commitment to do this is enshrined in our mission to be the leading non-standard lender in our chosen markets, acting responsibly in all our relationships and playing a positive role in the communities we serve.
To assist in the delivery of our mission, we have a number of core values that are embodied in our corporate principles and policies. These set the standard for the way in which we expect our employees to behave and how we interact with third parties, our customers and agents.
FairWe are fair and reasonable in our dealing with stakeholders.
ResponsibleWe conduct our business dealings responsibly and ensure that we have a positive impact on the environment and communities we serve.
AccessibleWe provide our customers with access to products which meet their needs.
StraightforwardWe are straightforward, open and honest in all our dealings.
ProgressiveWe anticipate and respond to the challenges of a changing world.
Our values guide us in our day-to-day operations and are embedded throughout our organisation. Compliance with values are closely monitored and reported regularly to the board.
Oversight of corporate responsibility
Overall responsibility for our CR programme rests with the Chief Executive, Peter Crook. CR and community affairs are regularly considered by the board; a corporate affairs activity report, which includes updates on our CR and community involvement activities, is presented at each board meeting. The group executive committee, which includes the executive directors and senior management, chaired by Peter Crook, reviews and approves the CR programme and budget.
Day-to-day management of the CR programme is undertaken by the CR Manager, Community Affairs Manager and Community Affairs Executive. To support this team, the following working groups, who are responsible for setting targets and ensuring that programmes are put in place to deliver these targets, have been established:
- Corporate responsibility working group;
- Environmental working groups within Vanquis Bank and Consumer Credit Division;
- Vanquis Bank’s Active Community Programme board; and
- Head office travel plan steering group.
The structures we have in place guarantee that, despite economic uncertainty, CR remains a core part of our business.