Client Success Story

Pre-Sales Business Review

The Challenge

Our client, a leading international bank, reviewed its supply channels and decided to set up a new business checking unit for clients who had received advice from either IFA’s or the banks own tied agents. The unit needed to be established very quickly and the client appointed Huntswood to carry out this work.

Huntswood's appointment was to continue until the client recruited its own employees. Huntswood would then assist in the validation and management of these individuals until the department became self-sufficient.

The expectation was that Huntswood would participate in the evolution from a project workstream through to a line department. Liaison with relevant key client departments was therefore an important part of the work, as was active involvement in the development and refinement of business checking standards.

Huntswood's project manager was responsible for the control, training and productivity of the consultants.

The Solution

Huntswood's specialist resources were trained and passed a case assessment prior to participating in this project. All had industry experience and previous experience of fact find checking with other firms and as such were able to adapt quickly to the clients procedures and policy standards.

The consultants were set targets for hours worked and productivity and were expected to demonstrate a strong work ethic and task ownership, in a team framework. The productivity targets were based on cases processed. Huntswood developed management information to optimise resource allocation and performance.

Huntswood had full management responsibility for the project. Our team of 45 consultants worked initially for 12 weeks, during which time the client undertook a permanent recruitment initiative to replace Huntswood's consultants.

The business unit set up and manned by Huntswood reviewed, approved / rejected and graded all records for product sales by IFAs and Tied Agents. Their work was seen as a crucial part of the sales process and compliance function for the business.

Where a recommendation was deemed inappropriate, the business unit was responsible for informing the adviser of all shortfalls (whether administrative or contrary to best practice guidelines) in order for revised recommendations to be presented to the client.

Huntswood was responsible for quality assurance on all activities and for daily reporting to the client on case volumes processed and categorisations involved.

The Result

Huntswood remained on site for 58 weeks with a reducing number of consultants whilst the client was actively recruiting.

Over 9,500 files were processed and the project was completed on time and under budget. Huntswood's consultants remained on site following the end of the project to assist in the development and support of the clients own people.

Included in Huntswood's feedback to the client was a recommendation outlining areas Huntswood assessed to be in need of improvement in order to reduce the risk of regulatory sanction.

The department is now fully manned by client employees following recruitment both internally and externally within the local area