Anglia UK Anglia UK
FREE 'compliance spot check' to highlight common vulnerabilities
FREE 'compliance spot check' to highlight common vulnerabilities This free compliance 'spot check' is designed to deliver a quick evaluation of key vulnerabilities. It points out how to test, measure and evaluate risk.

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Evidence Based Compliance and Accountability

It's not enough to rely on good people. The FCA needs you to prove you are acting in a compliant manner and treating the customer fairly.

Any organisation operating within credit management or account collection is expected to have appropriate management information and measures in place to ensure they are delivering the TCF consumer outcomes and comply with their regulatory obligations. This means having robust processes, responsibilities, controls and standards in place.

However, according to the FCA: "...it is not possible for a firm to demonstrate that it is actually delivering the TCF consumer outcomes without some evidence. The statement that a process exists, or a control is in place, does not indicate that the process is followed all of the time or that the control is 100% effective in delivering the desired outcome."

How robust are your processes, people and policing?

  • Do you demonstrate a systematic approach to compliance from corporate culture, management behaviour to agents actions?
  • Recruitment, training and disciplinary procedures will all come under scrutiny - is this monitored, enforced, recorded?
  • Is your management information reactive and not proactive, in that is it used to avoid problems before they occur?

Can you evidence compliance 'end-to-end' throughout the process?

Because Anglia UK operate throughout the whole credit management supply chain, Management Information systems are 'end-to-end.' This means they can be used to demonstrate 'treating the customers fairly', is systematic at every stage within the account collection process.

Ultimately our actions are a reflection of your brand in the eyes of both the FCA and the customer. This means they will impact on you directly if evidence of TCF and compliance is not available - especially if you are the appointed 'approved person' in your organisation.

FREE 'compliance spot check' to highlight common vulnerabilities?

This discrete service is designed for prime, sub-prime and captive finance providers. There is absolutely no obligation, simply - call 01775 713322 or submit the form above to arrange your spot check.