At Permanent TSB we are united in our efforts to build a sustainable business underpinned by a culture where the highest standards of integrity, accountability and compliance with regulatory standards are lived.
Our Vision is to be the Bank of Choice for our customers, colleagues and communities, delivering everything they need to be successful. This Vision is supported by our five core values – Commercial, United, Straightforward, Courageous and Open. Our Values provide us a framework for leadership and offer a set of guidelines for the mind-set and behaviours required to achieve our Vision. They drive our decision making, support the strategic priorities of our business, and inspire our organisational culture.
Commercial – Being committed to delivering personal customer experiences and fair customer outcomes that set us apart.
United - Being aligned as one team to deliver our shared Purpose and Vision.
Straightforward - Being straightforward in everything we say and do with the highest levels of integrity and authenticity.
Courageous -Being ambitious with a strong desire for our business to succeed.
Open - Being inquisitive and open to new approaches and ways of doing things and welcoming others to do the same.
In 2018, the Bank launched an Organisational Culture Programme which focused on articulating what our Bank of Choice Vision meant for our key stakeholders. Permanent TSB’s espoused culture encourages our customers to succeed, empowers our employees to be their very best, and supports our communities by having a positive and meaningful impact. Our Responsible Business agenda plays a fundamental role in the delivery of that ambition– ultimately defining who we are as an organisation and the corporate culture that sets us apart.
The Organisational Culture Programme evolved from a previous People Strategy called Our People, Our Bank and is comprised of a number of work streams focused on bringing the Bank’s culture to life across the organisation. A dedicated resource is in place to provide leadership and support activity and there is an extensive programme of work in place with representation from each area of the business.
Permanent TSB is one of Ireland’s oldest financial institutions and has been in operation, in one form or another, for more than 200 years. During this time, we have developed deep roots in Ireland by both building trusted relationships with customers and playing an active role in the communities in which we live and work. In 2018, the Bank marked an important milestone in our journey, celebrating the 200 year anniversary of the Dublin Savings Bank.
We continue this long tradition through our Responsible Business Strategy. This Strategy is built around four pillars – Customers, Colleagues, Community and Environment – for which the following overarching objectives have been set:
The Bank will deliver on its Responsible Business Strategy in two phases: ‘Consolidate and Organise’ and ‘Build and Grow’.
The objective of this phase was to consolidate and organise existing Responsible Business activity into a coherent approach. Following extensive work over the last number of years, this phase is now complete.
The overall objective of this phase – from 2019 through 2021 – is to build a best in class Responsible Business programme and specifically to:
The ‘Business Working Responsibly Mark’ is an independently audited standard for Responsible Business in Ireland that recognises best-in-class sustainability programmes.
Following a comprehensive external review of the Bank’s Responsible Business Programme, facilitated by BITCI, the Bank commenced a programme of work based on the findings of the baseline assessment.
This work will continue into the year ahead, as we continue to work alongside BITCI to develop our programming with the aim of achieving accreditation to ‘The Mark’ by 2021.
The Board approved the Responsible Business Strategy and ensures that Management have comprehensive plans in place for achievement of the Bank’s Responsible Business objectives. Permanent TSB’s Chief Executive receives regular updates regarding the implementation of the strategy.
The Bank has in place a Responsible Business Steering Committee which is chaired by the HR Director. The Committee includes representation from business units across the organisation and meets at regular intervals throughout the year to review and direct the development of the Bank’s Responsible Business Strategy and Programme.
A dedicated resource is in place to provide leadership and coordinate activities, with the support of the Steering Committee.