Modern
slavery act
statement
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Iress Limited is a leading technology company, designing and developing software and solutions for the financial services industry. Iress operates across Asia Pacific, the United Kingdom & Europe, Africa and North America. We have prepared this statement in accordance with the Modern Slavery Act 2015 (UK) (a UK Act) and the Modern Slavery Act 2018 (Cth) (an Australian Act) (the Acts).
Key actions in 2022:
Planning & prioritisation
Held an internal human rights workshop facilitated by an external consultant. Attendees across ESG, legal, procurement, compliance and risk management teams were represented as well as Leadership and Board representatives - including the Chair of the Board Audit & Risk Committee. This specialised workshop helped build awareness and clarity of what to prioritise each year when reviewing the most prominent risks in our supply chain and operations. The workshop also helped Iress recognise its weaknesses as a business and the biggest challenges that need to be addressed with immediate action.From this workshop, we identified these top priorities:
1. Training: To implement mandatory training for our people involved in decision-making in our operation and supply chains using Safetrac training resources.
2. Further due diligence: To carry out a risk scan to segment suppliers into high risk categories and develop an appropriate approach.
3. Stronger communication: To ensure our contractors in high-risk modern slavery areas are aware of our grievance mechanism and are communicating with their employees regarding the support Iress provides.
4. Site visits: To develop a process of conducting frequent site audit visits for our high-risk suppliers.
5. Review existing Iress contracts with suppliers: To review all contracts with our suppliers ensuring they meet Iress’ Supplier Code of Ethics.
6. Remediation process: To clearly define a process of remediation created by our People Team if modern slavery is identified. Our approach will be tailored for each modern slavery case due to each case depending on several factors such as: Iress’ degree of linkage, the geography and the governmental regulations in that area of concern.
Enhanced onboarding
Implemented a new supplier onboarding process that captures information and initiates due diligence across Procurement, Information Security, Accounts teams and engages the Legal team for contracts review. This process captures all of the information required for evaluation by these teams, upfront. That information triggers the creation of Jira tickets for engaging the various teams for their component of the due diligence. The information captured during the course of the various due diligence processes is stored as an artefact within the Jira tickets and a copy of the Google form is also kept centrally.
Real-time monitoring
Conducted real-time monitoring of all non-government suppliers, including financial stability, adverse media (environmental, labour, health & safety, ethical & regulatory media), sanctions, and company sustainability credentials via Beroe LiVE.Ai™.
Sustainable Procurement
Developed a list of recommended suppliers for our Sydney and Melbourne offices to increase our support of social enterprise and Indigenous-owned business.
Modern slavery statements are available for download below:
Iress is a technology company providing software to the financial services industry.
