PRA Group was founded on the belief that doing the right things for the right reasons with a long-term focus will generate sustainable success and shareholder value. This approach is one of the driving forces behind our environmental, social, and governance (ESG) initiatives, which have become an integral part of the company’s strategy and culture as they guide our corporate responsibility. Our founding principles govern our focus on creating rewarding careers for our employees and aiding in their development, treating our customers with respect and empathy, and giving back to the communities in which we work and live.
PRA Group leverages and promotes a broad array of forums and activities throughout the year to foster a high performing and highly engaged workforce. Our engagement activities reflect the diversity of our organization and respect for how different solutions can reinforce our core values through engaged and committed leaders and employees across our global footprint.
Founded on doing things the right way, for the right reasons, with a long-term focus, we make it a priority to give back to the communities where we live and work. Since our inception, PRA Group has given over $10 million to charitable causes around the world. We also organize regular opportunities for employees to volunteer and make an impact.
Responsible Administration of Services & Customer Welfare
Our core values inform the respect and transparency with which we relate to our companies' customers. To foster this culture of respect, PRA Group provides annual training for employees that interact directly with customers.
PRA Group's hardship policy is designed to protect the elderly, sick, and those experiencing temporary or permanent financial difficulties. This policy allows us to respond quickly to ever-changing circumstances, such as the novel coronavirus (COVID-19) pandemic. In the U.S., PRA Group does not charge interest or fees on unsecured accounts.
During the COVID-19 pandemic, we temporarily suspended the initiation of new involuntary collections efforts and identified geographic areas that were particularly impacted by COVID-19 and proactively placed temporary suspensions on collection efforts in such areas.
PRA Group has given millions of dollars and thousands of paid volunteer hours to support more than 100 charitable causes around the world.
Our talent development and performance management programs are focused on expanding the skills and capabilities of PRA Group employees. We provide tools to encourage optimal performance in current roles as well as for career growth and to support workforce planning.
Ensuring Professional Integrity
Included within our core values is a commitment to ethical work, which informs PRA Group’s governing Code of Conduct and commitment to complying with governing laws and regulations. 100 percent of employees and directors receive annual compliance and ethics training.
D&I Commitment Statement
“At PRA Group, we value our employees’ diverse experiences, perspectives, and abilities. We continue to foster a sense of belonging by working together to build an equitable and inclusive culture—where you are free to be yourself and be your best.”
Beginning as an outgrowth of our foundational CARES values, diversity and inclusion (“D&I”) programs, policies, and related activities have evolved into an enterprise commitment. Our diversity and inclusion team and D&I Steering Committee oversee our comprehensive D&I global strategy, local affinity groups, educational courses, and related programs across the organization to nourish employees as well as help to build and sustain the communities we serve.
Corporate Governance Best Practices
Our Corporate Governance policies foster trust among our stakeholders by governing independent oversight, board refreshment, stockholder rights and alignment, and prohibiting illegal hedging and pledging.
We have a responsibility to manage our operations and resources in a manner that promotes sustainable practices. Learn more about our environmental impact initiatives in our 2021 Environmental, Social, and Governance (ESG) Review.