Coronation Culture Handbook PDF

CULTURE HANDBOOK TRAINING General 1  OUTLINE Introduction Culture Definition The Coronation Way What drives us? Corporate Philosophy Core Values & Attribute...

CULTURE HANDBOOK TRAINING General 1  OUTLINE Introduction Culture Definition The Coronation Way What drives us? Corporate Philosophy Core Values & Attributes Critical Behaviours Our Practices General 2  INTRODUCTION General 3  INTRODUCTION Culture can be defined as ‘The shared beliefs, behaviours, and assumptions that are acquired over time by members of an organisation. It encompasses the methods and CULTURE systems by which management reinforces these beliefs, behaviours, and assumptions. DEFINITION Our culture reflects who we are, how we see ourselves and how we want people to see us. Every organisation has its own culture, which gives individuals a sense of belonging. Coronation has a unique culture which drives the way our employees behave and interact with internal and external stakeholders. As part of the Coronation Ecosystem, staff of Coronation are expected to embrace and internalise “The Coronation Way” of doing things in order to contribute effectively to our performance objectives. General 4  The Coronation Way i. B e i n q u i si t i v e Making the effort to understand the importance of our culture ii. Respect the brand Respecting the Coronation Way and understanding why we have chosen to do what we do. iii. The client is king We do not simply expect you to satisfy them; we expect you to exceed their expectations. Coronation employees are required to demonstrate the importance of this daily consistently and continuously. iv. Respect fellow employees We expect you to work side by side with other "Culture eats strategy for lunch employees, respecting and appreciating them as everyday…“ individuals with valuable ideas on how to do things better. D DDrucker - Peter /MM/YY v. U t m o s t P a r t i ci p a t i on a n d E n g a g e m e n t Participating fully and wholeheartedly in our events and culture building sessions by ‘walking the talk’. General  WHAT DRIVES US? General 6  CORPERATE PHILOSOPHY Our Vision Our vision at Coronation is to see the continent of Africa transform, by the deployment of our innovative and bespoke products, services, and solutions across the various industries in which we play in. Our vision is anchored on our core values of trust, innovation and leadership as well as our confident, driven and resourceful personality. Our message, core competencies and diversified business lines serve as our competitive advantage in the actualization of our vision of “A Continent Transformed”. Our Mission Mission Aim Our mission is to provide transformational solutions for Africa’s Innovation cannot just be about novelty; innovation must also challenges. be useful to the benefactor. Our people are the live wire of our mission, channelling innovation, expertise and resources It is our mandate to co-create a future of realized hopes to create a better future for our clients. and aspirations with our clients. Whatever prosperity means to them, we must be by their side, enabling the Our goal is to journey through life with our clients, providing process, providing the solutions and charting the course. the right kind of support at every step. We will be the partner who guides, supports, provides resources, and sees their clients succeed through to the very Our mission describes our purpose. It represents who we end. are and communicates how we serve our clients and other key stakeholders. We will strive to understand our clients’ pains, anticipate their needs, clarify their aspirations, and deploy the full extent of General our expertise and resources to create lasting value for them. 7  CORONATION STRATEGY ON A PAGE WHY Brand essence Prosperity Partners: Helps build enduring legacies and financial independence Board Members Partners Risk Rating Best-in-class Talent Validators Technology and Systems Financial Performance Products and Solutions WHAT Vision A continent transformed Mission Providing transformational solutions for Africa’s challenges Anchored on Core Values & Attributes Trust Innovation Leadership Confidence Driven Resourceful Transformational Our people are our Key message Outcomes beyond Democratising wealth solutions for Africa’s most valuable pillars financial returns creation and access unique challenges resource HOW Supported by Talent Management Finance Information Technology Core Competencies Risk Management Marketing & Communications Sustainability Alternative Fund Trading Underwriting Asset Management Lending Executed by our Investments Administration Business Lines Cash Management Corporate Finance Trade Finance & Brokerage Distribution Technology Advisory Payments 8 General  CORONATION CORE VALUES AND ATTRIBUTES CORE VALUES DESCRIPTION We have total confidence in one another, and others entrust us with their valued assets, knowing that we’ll 1 Trust work tirelessly to build and preserve their wealth. We always deliver on contracts, agreements , undertakings and assurances. We will not allow the status quo to determine our future 2 Innovation We are driven by global standards of what is possible. We are prepared to embrace the responsibility of leading. 3 Leadership We are not afraid to stand out and demonstrate the competence required to lead. ATTRIBUTES DESCRIPTION 1 Confidence Our confidence is born out of our strong belief in our own capabilities which we continuously measure against the best in class. 2 Drive We will keep going; we will keep competing until the lives of our clients and the continent are transformed. 3 Enterprising We are self-starters, quick to recognise opportunities and deploy our abilities and ecosystem to drive client growth and transform our continent. General 9  CRITICAL BEHAVIOURS 1 DESCRIPTION We cannot afford to compromise on being great Once we agree, we are bound Act like you own the business Hold yourself and your team members accountable. Don’t be afraid to fix things that are bad for the organisation Escalate when you can’t adequately handle your responsibilities Use leverage Ownership and Your career is in your hands Your importance to Coronation is only as big as the goals and outcome for which you are responsible. Accountability Make your passion and your work the same thing for High Performance People who spend our money must prove that they do so wisely Don’t worry about whether or not your people like you, worry about whether they trust you You must drill down to gain a good understanding of why a team cannot perform as expected Don’t rubber stamp General 10  CRITICAL BEHAVIOURS 2 DESCRIPTION Unwavering on constant and continuous learning to deliver high-quality outputs in all that we do We believe that it is knowledge, not seniority that produces the best ideas, the best solutions and the best decisions There is nothing more powerful than the truth. The truth is our most valuable commodity. Speak up own it or get out Don’t punish mistakes, punish those who don’t learn from mistakes Knowledge without wisdom will not result in excellence Excellence It’s important to know whether poor performance is due to a lack of knowledge or a lack of ability Never lower the bar through Learning can be fun but also involves pain and sacrifice Knowledge & Upskilling Collect data and process it wisely Excellence comes when learning is internalised and “habitualised” Visualise our outcomes based on ample capacity, not today’s capabilities Assign learning assignments to specific people with the goal of solving specific problems Let learning be driven by an “only the paranoid survives” mentality Probe each issue to the entry-level point of view Personal career evolution should be relatively rapid, depending on how fast you learn We must be able to measure how much and how well people have learned, as part of their performance appraisal General 11  CRITICAL BEHAVIOURS 3 DESCRIPTION One plus one should equal more than two Disagree efficiently Don’t be loyal to anyone who is not loyal to the common mission People are built differently. Innovation and creativity processes must accommodate these differences People tend to pick people like themselves. It’s important to have more winners than losers Innovation and It is when you process data insights into conclusions and actions that progress takes place creativity Don’t share sensitive information with competition It is far better to find a few smart people and give them the best technology than to have a greater number through of ill-equipped people collaboration Build great decision makers at both individual and team levels No one is more powerful than the Organisation Systems and controls are key to unlocking the power of collaboration General 12  CRITICAL BEHAVIOURS 4 DESCRIPTION Develop more long-term and medium-term incentives Rewards and recognition should always be consistent with the performance of those being rewarded Publicly recognise and celebrate wins as they occur, to boost energy and pride Great managers build great metrics Constantly compare your organisational actual monthly performance to your KPIs. Don’t wait for your appraisal to do this Provide constant feedback on an ongoing basis Rewards and Evaluate accurately, not kindly Recognition Every appraisal session is a powerful learning opportunity Be prepared to have your assessment of one person be compared to your assessment of another Know what your people are like and what makes them tick Be clear about the difference between fairness and generosity Look for people who sparkle, not people who will fill the vacancy – At Coronation we do not look for people who merely meet the job description. Use public punishment to deter unacceptable behaviour General 13  CRITICAL BEHAVIOURS 5 DESCRIPTION Great cultures bring problems and disagreements to the surface and solve them well Be transparent when managing delicate situations Meaningful relationships and meaningful work are mutually reinforcing Teach and reinforce the merits of mistake-based learning Know which types of mistakes are acceptable and which types are unacceptable Inexperienced people can have great ideas Every important conflict must be resolved Creating a safe Make sure that people who are given dispute resolution responsibility recognise their responsibility and act working with wisdom Remember that every story has another side environment Worry more about substance than style Remember that everyone has opinions, even if they are bad If something appears logical, be prepared to test it Everyone has the right and responsibility to try and make sense of important things General 14  OUR PRACTICES General 15  ENTRY & EXIT Entry Exit Since culture fit is key to performance at Coronation reserves the right to terminate employment Coronation, we seek individuals who embody contracts when either behaviour or performance is the behaviours, character traits and values unsatisfactory or does not align with our vision or expressed in the Coronation Way. reflect our values. We encourage you to refer to the disciplinary policy for more detail on other instances that may result in the exit of an employee from the Coronation ecosystem. General 16  CAREER PROGRESSION Setting quantifiable and achievable goals allows us to measure success without Goal Setting wasting valuable resources, expertise and time on outcomes that don’t support our business goals. The pace of your progress at Coronation is determined by your performance and contribution to the Organisation. Performance Employees are encouraged to study the Performance Management framework to Appraisals understand opportunities for personal and career development. General 17  LEARNING & DEVELOPMENT 1. Graduate Academies 2. Formal training and develop ment 3. Enterprise Club 4. Project assignments 5. Interna tiona l affiliations 6. Quarterly Leadership Lectures 7. Persona l develop ment General 18  CAREER GROWTH Coronation operates an ever-expanding number of business practices engaged in Corporate and Merchant Banking, Private Banking & Wealth Management, Insurance, Technology, Securities and Trading & Brokerage. Coronation’s newly designed Career Management Framework identifies career opportunities for employees within and across entities in the Coronation Ecosystem. Our employees can move across the verticals through our Talent Mobility Framework. We actively promote the capabilities and promote the interests of those employees who have demonstrated competence and shown willingness to take on more responsibilities by recommending them for roles in new assignments across verticals. General 19  WORK-LIFE INTEGRATION Coronation has established programmes to support our people both in and out of the workplace.. Health & wellbeing: All employees and their dependants have access to Health Insurance Benefits. Coronation also holds frequent wellness sessions led by medical professionals able to address health-related concerns. Leave benefits: Coronation offers both paid maternal and paternal leave. Please refer to the Employee Handbook for details of the leave benefits available to employees. Remote work: Coronation has a hybrid work structure that provides employees the flexibility of working from both the office (on-premises) and remotely. This structure is evolving and will be reviewed and amended from time to time. General 20  REWARDS, RECOGNITION & CONSEQUENCES Compensation: We continually benchmark salaries against industry trends and practices. Incentives: As part of our compensation structure, we offer employees both short- and long- term incentives. REWARDS AND Benefits in kind: Coronation provides both statutory and non-statutory Benefits. RECOGNITION Recognition: The Coronation Employee Recognition Awards Programme (ERAP) acknowledges employees for exemplary performance and loyalty. Detailed information on Coronation’s rewards structure can be found in our Total Rewards Framework. Our system celebrates, recognises and rewards positive employee contributions. However, since the value of Coronation’s brand is intrinsically linked to the personal performance and conduct of CONSEQUENCES its employees, Management will not hesitate to initiate disciplinary processes should an employee contravene Coronation’s values, practices or policies. General 21  COMPETENCY TALENT MOBILITY MANAGEMENT Coronation supports the career growth and development Our Competency Management Framework highlights the core of employees, providing vertical, horizontal, or diagonal skills and capabilities that we consider critical for employees career progression opportunities. to successfully perform their roles. The overall framework has been divided into two broad categories namely; General We manage the internal movement of employees within Business & Behaviour Competencies, and Core Technical and across the Coronation Ecosystem through talent Competencies. mobility. From time to time, staff will be assessed against these criteria Our Talent Mobility Framework documents the internal to establish any developmental needs, providing learning mobility guidelines required to develop and align our interventions to assist staff achieve their full potential. workforce to meet strategic business goals. Approved employees who meet the criteria outlined in the Talent Mobility Framework qualify to move between verticals. General 22  TEAM BUILDING & BONDING At Coronation, we believe in the value of team building activities to foster good working relationships. Employees are encouraged to participate in team building activities, which are usually informal events providing opportunities to have fun with colleagues. Team building activities may be funded by Coronation or by members of the team. General 23  CORPORATE RESPONSIBILITY At Coronation we recognise that while shareholders are key, beyond profit we exist for a higher purpose. As such, our true corporate responsibility requires: growing and preserving clients’ and stakeholders’ wealth based on strong relationships, trust, treating customers fairly, and leveraging sustainable ecosystems and open finance; integrating social, ethical and environmental considerations into our day-to-day operations through sustainable investing based on our long-term transformational vision; building our businesses to ensure we have a positive impact on the economic and social progress of communities (largely through health, financial inclusion and e-governance) and on the environment; and attracting and developing a strong, diverse and capable workforce within a supportive work environment focused on equitable development and continuous learning. General 24  SUSTAINABILITY We recognise that, while our customers come first, our purpose is not restricted to driving profits but also includes non-financial returns. As such, at Coronation, sustainability includes growing and preserving clients’ and stakeholders’ wealth based on strong relationships, trust and treating customers fairly by leveraging sustainable ecosystems and open finance; integrating social, ethical and environmental considerations into our day-to-day operations through sustainable investing models based on a long-term vision and partnerships; To achieve this, Coronation has adopted a 12-Point Sustainability Agenda aligned with the 17 United Nations Sustainable Development Goals (UNSDGs) and the 7 Aspirations of Africa Agenda 2063. Coronation’s 12-Point Sustainability Agenda addresses: 1. Sustainable Investing 5. Treating customers fairly 9. Women in finance 2. Sustainable ecosystems 6. Learning & Development 10. E-Governance 3. Financial inclusion 7. Great place to work 11. Universal Health Care 4. Open finance 8. The environment 12. Responsible Culture General 25  MEETINGS Professionalism extends to how we all act in meetings. All mandatory meetings should be attended, with written permission sought from the meeting organiser if this is not possible. Meetings should not be dictated by seniority; everyone should feel free to participate and express themselves confidently. DD/MM/YY General 26  INTERNAL COMMUNICATION i. Internal communication encompasses both official communications such as meetings, memos, emails and social media channels, and more informal, unofficial forms of communication, such as conversations between employees ii. Internal communications are critical in propagating our organizational culture and corporate philosophy (vision, mission, values, and brand driver). iii. Communication occurs in various modes – up, down and across the organization – making everyone (especially those with a direct report) accountable for the effectiveness of their communication iv. Communication may be done via the following venues: i. Staff meetings. ii. Employee handbooks, bulletins, etc. iii. Coronation Hive Learning iv. Memorandums, e-mails, and other communications to employees v. Effective communication promotes open dialogue, clear expectations and accountability, good decision making, and less duplication of effort DD/MM/YY Please refer to Coronation’s Internal and External Communication Policies for further guidance on vi. Communications should be respectful, responsible, and professional in tone and must not effective communication at Coronation. violate the Code of ethics, the Communication & Social Media Policy, or other applicable policies, including customer or employee privacy General 27  EXTERNAL COMMUNICATION The Coronation way is about developing, enhancing, and maintaining mutually beneficial relationships with our external environment – particularly clients and other members of the public. Regular information sharing with external parties is the building block of external communication. Clients Coronation and clients The success story of Coronation cannot be written or told without discussing what makes the group succeed. The winning strategy comes from applying a relationship building strategy, known as ‘Value Chain Marketing’ Rulers Family The concept of ‘Value Chain Marketing’ (VCM) recognizes that corporations share certain affinities with individuals: just as individuals have their family and personal network, so corporations also Coronation operate a network of family, friends, associates and rulers. Value Chain Cross-selling to clients In a time when competition among institutions is considered fiercer than ever, we focus our efforts on retaining existing clients and strengthening our existing client relationships. A key strategy for us is to cross-sell our wide range of products and services. We achieve this by Associates Friends focusing on individual client needs and by proposing specific products and services to meet those needs. Communication Principles i. Reliability Please refer to Coronation’s Internal and ii. Speed External Communication Policies for further iii. Clarity guidance on effective communication at Coronation. General 28  CONFIDENTIALITY Any employee privy of confidential information is prohibited from communicating this information to other employees, clients or third parties. Any violation of confidentiality is considered an abuse of power and is unacceptable behaviour. To prevent any inadvertent disclosure of information, the following procedures should be observed: i. Confidential matters should not be discussed in places where the discussion may be overheard, such as elevators, hallways, restaurants, airplanes or taxis ii. Confidential documents should not be read in public places and should not be discarded where others can retrieve them General 29  WELLBEING Coronation encourages workplace programmes in support of mental and physical wellness. These programmes may include health insurance for employees, compulsory minimum annual leave, medical wellness sessions, compulsory lunch breaks and other options deployed by individual entities. General 30  DIVERSITY, EQUITY & INCLUSION Diversity, Equity and Inclusion (DEI) is vital to building and sustaining a successful workplace in which employees can thrive personally and professionally. DEI recognises the value of different voices, ensuring all are heard. To this end, at Coronation we challenge and respond to bias, harassment and discrimination and are actively committed to a policy of equal opportunity for all employees. We are developing an environment where differences are welcomed, different perspectives are heard, and every employee feels a sense of belonging and inclusion. This is based on the understanding that DEI practices leverage our collective capabilities to build excellence and outperform. General 31  DIGITAL AWARENESS/FITNESS At Coronation, we engage with technology and develop a social awareness of how several factors including commercial agendas and cultural understandings can shape the ways in which technology is used to convey information and meaning. We can take advantage of the wealth of new and DIGITAL FITNESS emerging opportunities associated with digital technologies whilst also remaining alert to the various challenges’ technology can present. i. Skills – We drive the right digital skill sets and capabilities exist across coronation–people and leaders –in orderfor us to succeed in this digital age. ii. Mindsets – We will continually adjust the values, beliefs, attitudes, assumptions, biases, and ways of thinking about digital to fuel innovation across the ecosystem. iii. Relationships - We build the right connections, collaboration, relationships, and influence to foster digital innovation. iv. Behaviours – As an ecosystem, we will continually apply new learnings to adapt habits and actions that drive digital innovation. General 32  STAKEHOLDER ENGAGEMENT Our stakeholder engagement policies identify the needs of all stakeholders in Coronation the Coronation Ecosystem. and Board of Directors We engage relevant stakeholders with clear purpose to achieve agreed business outcomes across our organisation, thus ensuring that the needs of our clients, boards of directors, staff, regulators and all the communities Coronation and where we are present are met accurately and efficiently. Communities Coronation and Regulators General 33  ETIQUETTE & WORKSPACES COMPORTMENT Coronation provides a working environment that At Coronation, we believe that proper professional etiquette promotes employee health and wellbeing. We understand makes the right impression amongst stakeholders and the importance of operating in a safe working increases our chances of success. It’s important that all environment. employees understand the basics of professional and office etiquette. Every Coronation employee owes it to themselves, each other and the business to exercise the greatest care in By etiquette we mean the way you behave and speak as well carrying out their work. as how you dress. Our Etiquette and Comportment Handbook provides further details on the subject. General 34  DRESS CODE The Coronation Way is about employees dressing in a business and professional manner consistent with professional good taste and our brand image. Employees are expected to use good judgment in presenting a business-like appearance to our customers, visitors, and colleagues. DD/MM/YY General 35  Business Professional and Business Casual Dressing Our dress code is both business professional and business casual depending on the nature of the employee’s role i. Employees who are dominantly in the office, are not client facing and do not have to attend high profile meetings with clients, shall follow a business casual dress code. Business casual attire is a conservative attire that is less formal with a classic clean -cut look. ii. Employees occupying roles that have direct contact with the clients are expected to follow the business professional dress code during client visits and meetings. Business professional attire is a more formal look that is conservative and elegant. iii. Employees shall be allowed to choose between a business casual or business professional appearance, depending on their individual and business circumstances. DD/MM/YY General 36  ACCEPTABLE CLOTHING NON-ACCEPTABLE CLOTHING ✓Male employees: business suits, blazers, buttoned shirts, ties, × Nonacceptable clothing: Tracksuits, Mini dresses, playsuits, casual polo shirts, slacks/pants, chinos trousers, traditional outfits. sport T-shirts, leisure shorts, sweatshirts, overly tight or revealing cloths, vests, and clothing with inappropriate slogans. ✓Female employees: skirts, blouses, shirts, suits, blazers, dresses, × Slippers, sport shoes and rubber flipflops are unacceptable. slacks/pants, traditional attire without head gear except where religiously required. × Ties with bold animal prints, branded wristbands, multi-colored design, or studded belts are unacceptable. ✓Footwear shall be presentable, clean, sensible, and appropriate × Female dresses or skirts should be at most 2 inches above the for work. Sandals can only be worn on traditional attires. knee, as anything more shall be unacceptable × Visible tattoos are to be discouraged and where present, should ✓Employees are permitted to accessorize to complement their not be offensive to others. Where they are deemed to be appearance. Accessories should be kept modest as much as offensive, they should be appropriately covered possible and should not be offensive in any way. Please refer to the Coronation Dress Code for more details. Staff should endeavour to wear their IDs within the premises General 37  THANK YOU General