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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Creating A TCF Compliance Culture

As part of the FCA TCF initiative they expect firms to demonstrate that they are integrating TCF into their business culture.

It is only through establishing the right culture that senior management can convert their good intentions into actual fair outcomes for consumers and ensure that delivery of these outcomes is sustainable.

FCA look for evidence of leadership which embeds TCF

  • How is the fair treatment of customers championed to your staff?
  • How do you ensure that it is integral to the way your firm carries out its day-to-day business?
  • How do you ensure your recruitment and reward structures complement and support your firm's values?
  • How do you educate and train all customer facing staff to ensure that your customers recieve a fair deal?
  • How do you measure performance and service standards?
  • How do you ensure you provide your customers with clear information and/or suitable advice before, during and after any engagement?

Is the TCF 'management behaviour framework' used by your supporting agents?

This framework set out by the FCA, is used to assess whether firms are able to demonstrate that they are treating their customers fairly. In other words, fair treatment of customers is central to the behaviour and values of all managers. They communicate messages about the fair treatment of customers effectively and apply appropriate controls and monitoring to ensure that the fair treatment of customers is delivered by their staff.

So the question is, how confident are you in your whole credit management supply chain being fully compliant and how could you test it and evidence your systematic compliance processs?

Would you like a 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.