This statement has been published in accordance with section 54 of the Modern Slavery Act 2015 and sets out steps taken by Leek Building Society during 2023 to prevent modern slavery and human trafficking in its business.
Leek Building Society has a zero tolerance approach to modern slavery of any kind and will not engage in any business activity with a third party organisation which engages, or is believed to engage, in people trafficking, slavery, forced labour or domestic enslavement. The Society’s Board of Directors has overall responsibility for ensuring the Society complies with the Modern Slavery Act and all staff are expected to report concerns using appropriate reporting channels and management are expected to act upon them.
Organisation Structure and Supply Chain
Leek Building Society has 12 branches and employs approximately 200 staff across its branch network and Head Office. The Society, like all mutual organisations, exists and functions for the benefit of its members. With the right cultural values embedded throughout, all staff are committed to putting customers first and to ensuring customers are at the heart of all they do. The Society’s financial year end date is 31 December.
The financial services industry does not carry a high risk exposure to modern day slavery and the Society is not part of a supply chain. However, in delivering its services, the Society undertakes due diligence on its key third party suppliers to ensure their policies and practices are compliant with relevant legislation and regulation and aligned to the Society’s expectations.
Policies
The Society is committed to ensuring there is no modern slavery or human trafficking in any part of its business. Colleagues are able to report any suspicion of a criminal offence in relation to modern slavery and human trafficking under its Whistleblowing Policy. This policy is to protect and support colleagues who make a non-malicious allegation in the best interests of Leek Building Society, providing a confidential contact point and responding in an appropriate manner. As detailed within the Society’s Third Party Supplier and Outsourcing Risk Policy, the Society does not have any appetite to enter into, or remain in contract with, third party suppliers that are unable to demonstrate their adherence to legislative and regulatory obligations.
Risk Assessment and Due Diligence Processes
Due diligence checks are completed on all critical suppliers at onboarding and as part of a regular review process. As part of these assessments, consideration is given to compliance with the Modern Slavery Act 2015. The Society assesses its exposure to modern slavery and human trafficking as part of its Financial Crime Risk Assessment which is undertaken a minimum of annually.
Training and Measuring Effectiveness
To ensure a high level of understanding of the risks of modern slavery and human trafficking in its business, the Society provides training to all staff within its mandatory Financial Crime awareness training. The Society reviews the proportion of staff who have completed this training which includes an assessment of their understanding.
Ongoing Commitment
The Society is committed to working closely with its suppliers in the identification and abolition of modern slavery and human trafficking. The Society will continue to review its training for all staff and will continue to update and develop policies and procedures to address and incorporate the provisions of the Modern Slavery Act.
This statement was approved on 23 May 2024 by the Board of Directors of Leek Building Society and is signed by:
Andrew Healy Rachel Court
Chief Executive Chair
23 May 2024 23 May 2024
For previous Modern Slavery and Human Trafficking Statements, please click on the links below:
