Handling complaints fairly, efficiently and effectively remains a key focus for the regulator. Complaints management can be costly if you get it wrong, both reputationally, and financially.
Everyone at Themis Consultancy has a wealth of knowledge and experience in this area so we can help you:
- Review your complaints strategy to ensure it:
- meets the regulator’s objectives; and
- identifies and helps manage potential future risks (poor outcomes and compliance risks); and
- identifies operational inefficiencies.
- Review your governance arrangements including where and how decisions are made, how management information including root cause analysis (RCA) is used.
- Review and improve the standard of training amongst staff within the business
Undertaking root cause analysis of complaints and effectively applying lessons learned from determinations made by the Financial Ombudsman Service is critical in any FCA regulated business. At Themis Consultancy we all have a huge amount of experience in helping to identify and document a business’ rationale for applying the most relevant criteria in determining complaints, and assessing whether, and how much redress may be due to complainants. Themis Consultancy can therefore support your business in creating well documented processes and procedures to evidence compliance with DISP, to ensure that customers are treated fairly and that any decisions made, and their rationale, are appropriately documented.