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Complaint handling procedures and standards
Regulators have always demanded high standards of complaint handling and strict compliance with their requirements for complaint handling, including timescales, laid out in section DISP of the FSA handbook.
There is a requirement to have detailed procedures for complaint handlers to follow, and also to provide a summary of the procedure for complainants to refer to. In this sensitive area, which is always under the FSA spotlight, OAC Actuaries and Consultants offers:
- development of comprehensive processes and procedures for all sizes and types of firm;
- development of standard letters and reports, as well as standard paragraphs suitable for inclusion in a range of complaint response letters, and which provide a model for more unusual cases;
- an audit of existing complaint handling processes, procedures and standards;
- a review of existing standard letters and reports;
- a review of the fairness of adjudication standards and policies;
- bespoke training in complaint handling and adjudication on a comprehensive list of Investment and Pension products;
- compensation calculation systems, supported by appropriate training;
- individual compensation calculations on an outsourced basis; and
- training in the procedures for handling cases referred to Financial Ombudsman Service.
We maintain a flexible approach and tailor our services to meet the needs of individual clients.
Contact us to find out more about how OAC can help.
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