The bank’s policy documents for internal governance and control are revised every year but can be adjusted more often when necessary. Here we present our policies and guidelines, some in whole and other in short abstracts.
Code of Conduct
Our Code of Conduct provides us with guidance for our day-to-day work and ensures that we conduct our operations in an ethical, social and environmentally sound way. With our drivers easy, personal, innovative and responsible as its basis, the Code helps us in our efforts to build long-term relationships with our immediate stakeholders, such as customers, partners, suppliers, employees, board members and owners. Our Code of Conduct also helps to build confidence in our relationships with authorities in different countries and our ability to recruit new employees.
The Code applies in all countries where Resurs conducts business, and applies to all employees, managers, senior executives and Board members. Our managers have a special responsibility to always act as good role models, encourage an ethical approach and incorporate the Code of Conduct into their planning of work.
The Code is based on internationally agreed rules, notably the ten principles of the UN Global Compact. Resurs shall uphold a number of fundamental guidelines relating to human rights, labour, the environment and anti-corruption.
Read our Code of Conduct – November, 2023
Supplier Code of Conduct
We want to ensure high standards of business ethics and sustainability in everything we do.
We set high standards for ourselves and expect our suppliers to follow the same standards. We want to work with suppliers that take responsibility for the compliance with our Code of Conduct throughout the whole supply chain.
Our principles and our expectations on our suppliers are based on the following initiatives
- UN Global Compact
- OECD Guidelines for Multinational Enterprises
- ILO’s core conventions
- UN Guiding Principles on Business and Human Rights
The Code of Conduct applies to suppliers that deliver products and services to any of Resurs Group’s business units and subsidiaries.
Read our Supplier Code of Conduct – March, 2024
Summary of our environmental policy
Resurs shall contribute to environmentally sustainable development and reduce its environmental and climate impact. Sustainability must be an integral part of Resurs’ endeavour towards long-term sustainable value creation for the owners, customers, employees, investors, and society at large.
Business operations must be conducted in such a way that opportunities and risks are considered from an environmental perspective and comply with applicable environmental legislation and regulations as well as other environmental requirements that the business is affected by.
To reduce its environmental impact, Resurs will implement processes to consider and reduce the impact in all parts of the business, as well as set objectives and take measures to reduce the impact that arises from the business. Resurs’ environmental targets must be based on the direct and indirect environmental impact of the operations.
Summary of our data protection policy
Resurs Holding and its subsidiaries have a data protection policy that states the framework for how the Group carries out GDPR. Resurs Bank has a Data Protection Officer (DPO), whose primary task is to inform, provide guidance, verify and document understanding of and compliance with every item of GDPR. The DPO reports directly to the Group’s CEO. The company also has a specially appointed Data Protection Specialist (DPS) who mainly works in the operational part of the business.
It is the responsibility of the DPO and DPS to inform and advise all companies and employees about their obligations in accordance with the GDPR and the legal requirements that accompany it. They must also monitor and control compliance with the GDPR and the companies’ internal governing documents. Together with other expertise, the roles are involved at an early stage in every new process where personal data is handled to ensure that the processing of personal data rests on a legal basis and that required security measures have been taken.
Summary of our credit policy
Credit lending comes with credit risks, and as such, these risks should be managed in a sound manner and within the frame of this policy and the external regulations that impact credit lending and credit risk management.
The bank must always take account of good credit lending practice in its relationship to the customer both before and during the contractual relationship. This means that we should safeguard the interests of consumers with due care as per the customer requirements of each case. Credits may only be granted if the borrower can on good grounds be expected to fulfil its commitments in accordance with the credit agreement. Credit checks must always be made to investigate and assess the borrower’s solvency for the credit period, and the credit decision must always be reached on the basis of adequate decision-making documentation.
Resurs has established two credit committees – the superior Nordic Credit Committee and the Corporate Market Credit Committee. These are our highest decision-making bodies regarding the credit regulations that are to be applied at any time and for credit matters up to the level that requires decisions from the Board.
Additionally, the bank has established a Code of Conduct, which alongside the “Code for responsible credit lending on the consumer credit market” (published by the Swedish Bankers’ Association) is to be considered for credit lending.
In its credit policy, Resurs has established its credit strategy that aims to govern the focus and scope of the credit risk that the bank wants to expose itself to in order to achieve its overall business and profitability goals. It is fundamental for the credit strategy to have a well-diversified loan portfolio that provides the sought-after level of profitability with a collective credit risk in relation to our margins.
Brief sustainability policy summary
Resurs shall conduct a responsible and sustainable business that upholds values and shows respect for people, society, and the environment. Sustainability shall be an integral part of the Resurs Group’s striving for long-term sustainable value creation for owners, customers, employees, investors, and society at large.
Resurs shall focus on five areas, Sustainable credit lending, Sustainable employees, Environment, Ethical and responsible business and Social responsibility, which are highlighted in the annual sustainability report. These areas are identified in a materiality analysis and in dialogue with Resurs’ stakeholders.
Resurs Holding has signed the UN’s initiative for responsible business, Global Compact, and has thus committed itself to complying with the ten principles that cover human rights, working conditions, environment, and anti-corruption. Together with the UN’s global goals for sustainable development, Resurs’ code of conduct and Resurs’ guidelines and policies, they set the framework for Resurs’ sustainability work.
Summary of our anti-bribery policy
Resurs has an anti-bribery policy that aims to ensure how the companies tackle corruption. The fundamental principle is that all business activities are to be conducted in accordance with applicable laws and regulations and in a manner that maintains high ethical standards. Resurs does not accept unlawful, inappropriate or unethical conduct.
The policy clarifies rules to be followed to ensure that the company complies with this and to combat bribery and other corruption.
Summary of our guidelines for diversity and inclusion
Resurs shall be an attractive employer where a healthy work environment and an inclusive diversity culture creates conditions for creativity, innovation, and development. All employees, consultants, interns, and job seekers must have equal rights and opportunities.
The perspective of diversity, equality and equal treatment must be an integrated and self-evident part of the business and pervade work processes and control, planning and decision documents. The goal is to create a workplace where everyone feels included and which reflects the diversity in society at large.
Resurs has zero tolerance towards all forms of offensive treatment, harassment, sexual harassment, reprisals, or discrimination linked to gender, gender identity or expression, ethnic affiliation, religion or other belief, disability, sexual orientation, or age.