Log in Find a branch Contact us Savings Mortgages Insurance Future Planning Support About Us Home About Us Governance and engagement Modern Slavery and Human Trafficking Statement – 2020/2021 Modern Slavery and Human Trafficking Statement – 2020/2021 Introduction This statement is made in accordance with Section 54 of the Modern Slavery Act 2015 (“the Act”). It sets out the steps that the West Bromwich Building Society is undertaking to ensure there is no slavery or human trafficking in either its own business or the supply chains it uses. This statement covers the activities of the West Bromwich Building Society and its subsidiary companies. It relates to actions and activities during the financial year 1st April 2020 to 31st March 2021. Statement of Policy on the Society’s approach to slavery and human trafficking It is the policy of the Society to adopt a zero tolerance approach to slavery and human trafficking in all its forms both in its supply chain and its business operations. The Society is committed to the continued enhancement of policies, procedures and business practices that extend its diligence in identifying issues related specifically to slavery and human trafficking and the associated fundamental human rights in general. Organisational structure and supply chains The West Bromwich Building Society is a mutual financial services organisation offering retail saving and residential mortgage products. Other financial products are offered via third parties. Additionally, the Society operates closed books of commercial and other loans. The Society employs circa 646 staff and operates out of a central office with a network of 36 branches. It is proud to be a Living Wage employer, paying its employees and all suppliers who work on site on a permanent basis the voluntary Living Wage. As a Financial Services firm the Society is not part of a supply chain, however in delivering its services the Society procures goods and services from suppliers who do operate supply chains, some of which are global. Although the financial services industry is not one in which there is a high risk of the occurrence of modern slavery, the Society has in place specific policies, procedures and processes which previously reflected and incorporated provisions of the Act but which have been further amended during 2020-21 to give greater emphasis to the identification of such issues earlier in the supplier selection and management process. For example, it is policy that appropriate anti-slavery risk assessment and due diligence are carried out early in the supplier selection process and as part of the periodic review of certain suppliers. Higher risk activities The following supplier categories are, by their very nature, considered to be at higher risk of slavery or human trafficking (although the Society has not identified any evidenced reason to believe that slavery or human trafficking exists within our existing contracted supplier chains). The risk may be present both in the UK and abroad and may relate to the pay and working conditions of the staff employed to manufacture or produce: Staff uniforms - fabric, finishings and finished garments that are used in the Society’s uniform; Catering - kitchen staff, farm workers, fruit and vegetable pickers, fish / seafood fishermen; Marketing and promotional merchandise; IT and electronics manufacture, disposal, dismantling and recycling; Facilities management - Cleaning staff, building and maintenance operatives, furniture manufacturers, construction workers; and Recruitment services Existing activities and further steps The Society’s Supplier Code of Conduct is now required to be considered for inclusion in formal contracts. The Supplier Code of Conduct covers 4 key principles including Human Rights and Employment Practice. All new Society-drafted contracts include a Modern Slavery Act clause. Other actions that were progressed in 2020-21 include: The Society continues to robustly assert to all existing and prospective suppliers that, without exception, all of the Society’s supplier contracts must contain modern slavery and human trafficking obligations to ensure the Society’s high standards of ethical behaviour are reflected throughout the supply chain; During the Covid-19 pandemic the Society has continued to ensure its zero-tolerance expectations in relation to anti-modern slavery and human trafficking are met within in its supply chains, particularly in the context of changing working practices in different industries; The Society’s Code of Conduct for Suppliers, which includes anti-modern slavery and anti- human trafficking commitments, is published on the Society’s website and highlighted to all suppliers regularly; and The Society continues to articulate its requirements in relation to anti-modern slavery and human trafficking to those Society staff responsible for procurement and managing relationships with suppliers through mandatory training on joining the Society and ongoing training through the Society’s training programme. In the coming year the Society also intends to make significant progress in the following areas: Continue to take account of government guidance regarding managing the risk of modern slavery and human trafficking in supply chains during the pandemic; Continue to embed the Society’s approach to minimising the risks of modern-slavery and human trafficking within its supply chains by providing appropriate training and guidance materials to relevant staff with procurement responsibilities.; and To continue to ensure the provision of a robust whistleblowing procedure which encourages and empowers all Society staff to raise concerns regarding modern slavery and human trafficking without fear of reprisal or detrimental treatment. This statement has been approved by the Society's Board, which will review and update it annually. Jonathan Westhoff Chief Executive Privacy and Security Centre Accessibility Site terms Suppliers Careers Gross is the rate of interest payable without the deduction of tax. AER stands for Annual Equivalent Rate and this illustrates the amount of interest paid on your account if it were to be paid and compounded once a year. Tax-Free is the contractual rate of interest payable where interest is exempt from income tax. Tax benefits are subject to change and individual circumstances. ISAs will be operated in accordance with the appropriate Income Tax Legislation (“The Government’s rules”). The Government is responsible for the tax treatment of ISAs and for how long the favourable tax treatment will be maintained. West Bromwich Building Society - Head Office, 2 Providence Place, West Bromwich B70 8AF. The West Brom is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Register No:104877. 'the West Brom' is a trading name of West Bromwich Building Society © West Bromwich Building Society