Introduction from the CEO of Ramsdens Holdings PLC and Ramsdens Financial Limited
Ramsdens has a zero-tolerance approach to modern slavery and we are committed to ensuring that our business operates in a socially responsible way.
Organisation structure and supply chains
Ramsdens Financial Limited is a subsidiary of Ramsdens Holdings PLC and is a diversified financial service provider and retailer of new and second jewellery.
Due to the nature of our business, our supply chains mainly consist of suppliers of foreign currency, jewellery, stationary, marketing material, and security systems.
To ensure all those in our supply chain and contractors comply with our values we:
- Ensure wherever possible that agreements with third parties require the third party to comply with all relevant anti-slavery and human trafficking legislation;
- Request that our suppliers must have effective systems and controls in place to ensure slavery and human trafficking is not taking place in their business or any of their supply chain.
Our policies in relation to slavery and human trafficking
We are committed to ensuring that there is no modern slavery or human trafficking in our supply chains or in any part of our business. Our Modern Slavery and Human Trafficking Policy reflects our zero tolerance, commitment to acting ethically and with integrity in all our business relationships and to implementing and enforcing effective systems and controls to ensure slavery and human trafficking is not taking place anywhere in our supply chains. This policy covers serving vulnerable customers who may be subject to modern slavery and for ensuring all new members of staff are suitably trained as part of their induction into Ramsdens.
Due diligence processes for slavery and human trafficking
As part of our initiative to identify and mitigate risk we:
- Have a supplier onboarding process to review and assess all new suppliers;
- Have a supplier review process to monitor the risk of slavery and human trafficking occurring in our supply chains and;
- Have in place systems to protect whistle blowers
We also have a dedicated compliance team, which has involvement from the following departments:
- Legal
- Audit
- Human Resources
- Procurement
Risk assessment and managment
The Compliance and Risk Department together with the Finance Department and our procurement teams, undertake an assessment of the risk of modern slavery in our business and supply chain. Following that assessment, actions are agreed to mitigate any identified risks.
The previous year's record of risks is reviewed as part of the assessment and the effectiveness of mitigating actions is evaluated. Current policies and procedures are reviewed and updated accordingly.
Reporting and key performance indictators
Where instances or any potential risks of modern slavery are identified:
- Within our supply chain, this information would be escalated to the Head of Complaince and Risk and;
- From within our employees, this information would be escalated to the Head of People or via our documented whistle blowing process
- Head of Compliance and Risk would report all instances to the Compliance and Risk Executive Committee and where required the committee would report into the Board.
Staff Training
Modern slavery training is included as part of a new employee’s induction training into Ramsdens. In addition an annual refresher course is mandatory for all employees.
This statement is made on behalf of the Ramsdens Group pursuant to section 54(1) of the UK's Modern Slavery Act 2015 (MSA).
This statement relates to actions and activities during the year to 30th April 2024 and was approved by the Ramsdens board on May 8th 2024
Peter Kenyon
CEO
May 2024