Liontrust Responsible Capitalism Report 2021 - Flipbook - Page 26
Management of Responsible Capitalism-related risks
Key RC related risk
Steps taken to mitigate this risk
Overall success of these steps in 2022
Loss of people and talent
• Liontrust plans to develop the Group’s people
programme in a way that best serves the
business (See pages 107–110 for more
information.)
• Development of the Group’s people programme
is ongoing.
• During 2022, Liontrust implemented a Senior
Leadership Programme to ensure strong talent
development, communication, and cohesiveness
across the Group.
• Senior Leadership programme was well under
way by year end 2022. Plans are in place to
expand the programme in 2023 to include a
wider number of employees.
Sub-optimal client servicing
• Knowing what clients and investors want and
need in terms of fund information and reporting
Continuing with research, analysis and feedback.
This has been included in Liontrust’s work on
Consumer Duty.
Instances of discrimination, poor compensation,
outsourcing problems, or health and safety
breaches
• The Group has an anti-discriminatory policy and Successful – no discriminatory or health and safety
sponsored a number of inclusion-focused events instances were reported in 2022.
(internally) in 2022. Activities included training
on diversity and inclusion for employees. (For
more information, see pages 107–110.)
• The Group’s health and safety policy covers
all of its locations. Employees at each office
are designated as First Aiders. In 2023, the
Group plans to add Mental Aid Workers
who can respond to mental/emotional needs
of employees much like First Aiders do with
physical needs.
• Liontrust’s compensation is benchmarked to
ensure fair salaries are being paid for a relative
level of experience and skillset.
Fraud, cyber security breaches, market
manipulation
• There are a number of procedures and
processes in place to help the Group minimise
the risk of fraud. Checks and balances are
in place to monitor employee actions. All
employees are responsible for alerting Liontrust’s
compliance team of any untoward activity they
witness.
• Liontrust has a robust cyber security programme
in place that includes employee training,
desk-based scenario testing, alert systems and
continual assessment and monitoring of its
systems.
Successful in terms of minimising the risk of fraud
and market manipulation.
Liontrust use third-party specialists (including a
virtual chief information security officer) to help
define, test and review our security arrangements
at least annually, with internal and external
penetration testing happening a number of times
a year.
• Liontrust has policies in place against activities
that would constitute market manipulation.
Mandatory compliance training is provided to
employees to safeguard against such events. A
whistleblowing hotline is also available for all
employees, should they suspect fraudulent or
other harmful activity.
Poor integration of acquisitions
• Liontrust focuses on adding all acquisitions onto
its existing platforms so that new businesses
fully integrate with Liontrust as soon as possible
following acquisitions.
• Liontrust aims to create “one culture” when
bringing in new businesses. All products
become Liontrust branded funds and people
programmes and benefits are open to all
employees.
26 - Responsible Capitalism Report 2022
Majedie was successfully integrated into the
Liontrust IT platform, risk systems, HR system, and
existing Liontrust teams in 2022.
Promoting the Liontrust culture will always be
ongoing.