Page 14 - CCB_Full-Annual-Report-2021

14 Strategic Report 15

Stakeholder Description Engagement
Shareholders The Bank has two Both shareholders are represented on the Board and Board sub- Contents
shareholders each committees by Non-Executive Directors and are therefore fully involved
holding 50% of the in the decision making of the company.
Contents
Bank’s ordinary
share capital
We have a simple and Section 172 Companies Customers The Bank has The Bank undertakes regular activity to gather customer feedback. The
proven Business Model Act 2006 Statement around 8,500 results of which are shared with staff and the Board and incorporated
deposit customers into its future business development plans. Strategic Report
and 1,400 lending
Distribution network Statement by the directors in customers The Bank engages with lending and deposit intermediaries who
performance of their statutory duties introduce business to the Bank as well as having regular dialogue with
Cambridge & Counties Bank provides the borrower and deposit customer.
lending products through a network The Board of directors of Cambridge & Customer support remains a key strategic priority for the Bank in
of relationship managers who deal via Counties Bank Limited consider, both its response to the impacts of the Covid 19 pandemic. The Bank’s
business introducers as well as directly with individually and together, that they have Relationship Managers assessed the impact of Covid 19, and the support
customers. We seek to be straight forward acted in the way they consider, in good required on an individual basis with regular updates to both the Bank’s
and easy to deal with in our interactions faith, would be most likely to promote Executive Committee and Board Risk & Compliance Committee. The
with introducers and deliver a banking the success of the company for the Bank focused on the individual needs of its customers with regular
experience that attracts and retains benefit of its members as a whole (having reporting of the number of customers requiring support. Corporate Governance Statement
customers. The Bank delivers a range of regard to the stakeholders and matters
savings accounts via the internet, post, and set out in s172(1) (a-f) of the Act) in the Employees The average The Bank undertakes an annual internal staff survey as well as
savings intermediaries. decisions taken during the year ended 31 number of people participating in industry wide culture surveys undertaken by the Financial
December 2021. employed by the Services Culture Board (FSCB). We continue to record consistently high
Lending Bank during the participation rates in our employee engagement survey (84%) and record
Stakeholder engagement year was 183 strong scores.
The Bank’s commercial real estate loans
are secured on property. We lend to The Bank has maintained regular The Bank has a staff forum which meets monthly and is chaired by the
experienced commercial and residential dialogue with all its key stakeholders Bank’s CEO. As a result of staff feedback at the staff forum, we have
property investors as well as to owner throughout the year. The table below introduced two new green benefits; salary sacrifice for the purchase of
occupied businesses to invest in their own sets out the Bank’s key stakeholders and electric cars and bicycles. We have also increased our holiday provision
commercial premises. the main methods by which the Board from 27 to 30 days for all staff. The Board reviews the employee staff
and management engage. survey results and also receives regular reports from the CEO on the
The Bank provides finance for businesses to activities of the Employee Forum. Independent Auditor’s Report
acquire essential assets such as equipment, During the year the Board has had regular updates on employee
plant, machinery, or vehicles, using hire issues arising from Covid 19, including the response to lockdowns,
purchase and finance lease facilities. The the continuation of home working and return to workplace planning.
Bank also provides finance for the purchase
of classic cars using hire purchase and Suppliers Business and Management regularly meets with the Bank’s key suppliers, particularly
finance lease products. individuals who those providing important business services and information
provide services and technology systems.
Deposits goods which the
Bank uses to deliver During the year the Bank has engaged with each of its key suppliers to
The Bank’s lending is primarily funded by its products to its ensure that its own preparations, and those of its suppliers, mitigate any
the acquisition of UK savings balances. It end customers impacts from any vulnerability to Log4j were in place. The Bank is also
offers a range of deposit accounts that are actively engaging with property valuers to incorporate their views on Financial Statements
available directly to business customers. climate change considerations into the Bank’s lending protocols.
These accounts are also available to retail Regulators The Bank is The Bank’s senior management are committed to fostering open and
customers through a network of Deposit regulated by the honest engagement with its Regulators in line with the cornerstone
Intermediaries. Business customers include
several broader organisations such as PRA and FCA principle of the UK regulatory environment. The CEO, CFO and CRO meet
charities, clubs, societies, and associations. regularly with the Bank’s PRA Supervisory team through the framework of
‘proactive engagement and continuous assessment’ meetings and report
on key themes discussed through committee and Board meetings as
appropriate. The CRO reports to the Board Risk & Compliance Committee
The Bank has maintained on material matters of regulatory liaison, and the Bank’s assessment of the
quality of the relationship with each Regulator. In addition, the Chairman,
regular dialogue with Senior Independent Director and Chair of Risk maintain a direct relationship Notes to the Financial Statements
with the Bank’s Regulators on key themes as appropriate.
all its key stakeholders Communities The geographic The Bank is a member of several local trade bodies such as Chamber
of Commerce and Business Networking groups in the regions in which
locations in which
throughout the year. the Bank has it operates. The Bank also supports its staff in working with community
charities such as Leicestershire Cares.
offices, employees,
and customers