The Society’s Board fully supports the objectives of the Modern Slavery Act 2015. Our Statement explains how we are intent on meeting the requirements of the Act and the steps we are taking to do this.
Slavery and Human Trafficking Statement
The Society’s Board fully supports the objectives of the Modern Slavery Act 2015 (MSA 2015) and is intent on meeting the specific requirements of the Act in relation to where the Society might encounter modern day slavery. Specifically, the Society 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 servitude.
The financial services industry does not carry a high risk exposure to modern day slavery. Nonetheless, in order to meet its responsibilities in this area the Society undertakes due diligence on its key third party partners and suppliers to ensure that their policies and practices are both compliant with the Modern Slavery legislation and are aligned to the Society’s expectations.
During 2018 the Society took a number of steps aimed at reducing and then eliminating people trafficking, slavery, forced labour or domestic servitude from its supply chain. It:
- has developed a new supplier risk matrix tool to better identify a broader range of supplier risks including reputational risks to the society posed by suppliers
- has amended its tender documentation to clearly set out the society’s position on modern slavery
- has created and resourced a supplier relationship management team which is responsible for annual compliance checks including compliance with the MSA 2015
- is undertaking a comprehensive review of its tender requirements with a focus on ensuring supplier compliance with all relevant legislation and regulatory requirements including with the MSA 2015
- has developed and is rolling out a new supplier code of conduct which sets out the society’s expectations of suppliers across a range of issues including modern slavery which all suppliers are expected to comply with
- is working with an external partner to adopt the UN’s goals for sustainable development which aim to tackle many of the causes of slavery.
The Society is committed to working closely with our suppliers to develop our approach and confirm our commitment to the identification and abolition of modern slavery. Close engagement with, and understanding of, our supply chain helps us to work collaboratively with our suppliers to share best practice in tackling any potential instances of modern slavery or human trafficking.
This statement was approved on 26 February 2019 by the Board of Directors of Skipton Building Society and is signed by:
David Cutter, Group Chief Executive. Robert East, Chairman.