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Embedding core values into Mann Island Finance’s day-to-day activities, is just one reason which led John Hughes, managing director of Mann Island Finance, to scoop up the award for Business Leader of the Year – Car Finance Lender.
Group Editor of Shard Financial Media, which encompasses the Credit Strategy, Reward Strategy, TRI and FSE brands.
Hughes leads from the front to embed company values into the organisation from the top down. This is best illustrated by his commitment to always go the extra mile for his team and customers, and by his passion for fostering a strong coaching culture business-wide.
Hughes is a regular voice in the industry, championing motor finance and best practices within it. Topics have included regulatory change, the importance of embracing ESG strategies, and the ever-evolving retail model.
January 2021 saw the introduction of new FCA regulation for the motor finance sector. Hughes and the team were a prominent force in collaborating with the dealer community to ensure compliant pricing models were implemented, all of this alongside the backdrop of the pandemic.
Well ahead of the FCA’s deadline, over 1000 dealers transitioned successfully to new pricing packages reflecting the FCA rule changes, alongside new oversight policies to support dealers, brokers and consumers.
Thirst for knowledge
John’s passion for coaching manifested in 130 employees pass three core competency programmes (Financial crime/GDPR/Product knowledge).
In addition to this, the Mann Island Finance team members take an average of five additional courses on market/process/compliance knowledge every year.
The impact of this commitment to improvement has led to a marked rise is customer happiness. Mann Island Finance has achieved an NPS of +76.2.
Company values
The business value of ’Win Together’ is very much part of Hughes’ personality. Leading while listening in his quiet and unassuming style, coupled with a willingness to put the needs of the broader team first are well recognised and respected across the industry.
Delivering and promoting social value is inherent in the company’s values-led approach. Supporting this ethos, Hughes’ has posted regularly on the importance of ESG and embracing EVs (electric vehicles). Mann Island Finance will be a significant voice on the change to EVs in the coming year, a strategy developed in the second half of 2021.
Drive for Innovation
Innovation is at the heart of Mann Island Finance’s transformation as it seized the opportunity to embrace new technologies, by-passing the ’baggage’ of legacy systems faced by some established lenders.
Agile, collaborative and adventurous are just some of the adjectives that describe the rapid pace of innovation that has seen the company not only catch up with established lenders but very arguably overtake them. In 2021, fifteen major IT innovation projects were delivered on time and within budget.
The judges commented: “By leading from the front to embed values at Mann Island Finance, best illustrated by his commitment to always go the extra mile for his team, the judges were impressed by John’s focus on customers over the Covid-19 pandemic while also offering payment relief. They also really liked his focus on social causes and his positive advocacy around sustainability”.
The judges were also impressed by John’s focus on customers over the Covid-19 pandemic while also offering payment relief. They also really liked his focus on social causes and his positive advocacy around sustainability.
On accepting the award Hughes quickly shone the light upon his own team saying: “This award is really recognition of the team effort across the whole of Mann Island Finance and as such we should all share in this recognition.”
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