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Corporate governance

The Board of Directors is responsible for Paragon Group’s overall strategy and for the delivery of that strategy within a robust corporate governance and corporate responsibility framework.

Throughout each year Paragon Banking Group PLC (“PBG”) aims to comply with the principles and provisions of the UK Corporate Governance Code (“the Code”), as issued by the Financial Reporting Council. A summary of its compliance during 2017/18 can be found in its Annual Report and Accounts.

The Board takes account of the views of all our stakeholders and, where applicable, considers the impact of those decisions on the communities and environment within which the Group operates. While good corporate governance is important to the Board, so too is maintaining a reputation for high standards of business conduct in all our operations, and management of conduct risk is a key part of the Risk Management framework. ​

Information on corporate responsibility including our people policies, our involvement in industry initiatives, our commitment to customers and support for the community, environmental, social and conduct impacts is set out here and, also within Section A5 of the Annual Report. Paragon’s relationship with HMRC and the principles we apply to our tax affairs are also set out in Section A5 of our Annual Report.

We also endeavour to maintain an open and transparent relationship with our various regulators, including the PRA and FCA.

Subsidiary governance

A number of the corporate entities within Paragon are regulated by either the PRA and the FCA or solely by the FCA. PBG has oversight of these entities as part of its overall responsibility for the management of the Group and also to ensure that the Group’s values and standards in regulated spheres are met.​

Since the completion of the strategic reorganisation in September 2017 the directors of PBG have also comprised the Board of Paragon Bank PLC. The boards of both companies meet jointly in most circumstances (with the exception of the meetings of the Nomination Committee). Oversight of Paragon Bank PLC, consequently, forms a core part of the board and committee meetings of PBG. This governance structure and approach ensures that Paragon Bank PLC adheres to the Code, as far as it is applicable to a subsidiary entity.

 

AGM and shareholders

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Leadership accountability

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Risk management

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Board effectiveness evaluation and training

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Board committee structure

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Paragon Banking Group PLC.  Registered in England number 2336032.  Registered office 51 Homer Road, Solihull, West Midlands  B91 3QJ.