Mitigate risk and gain operational peace of mind

 

Gaining independent assurance on sales methods will help your firm reduce the potential of unsuitable advice as there will be more focus on the delivery of good customer outcomes.

New business checking is also valued by customers. Research carried out by Huntswood in conjunction with the University of Surrey and the University of Exeter, determined that 71% of customers think independent new business checking would ensure that the advice they received was provided in their best interest.

Huntswood’s proven expertise and flexible services in business assurance mean we can assist firms in mitigating risk and gaining operational peace of mind across even the most diverse product range.

We assist clients by assessing their product plans, new products, services and business processes to uncover efficiencies, as well as any potential or actual risks to customers and the business. We provide constructive challenge based on deep regulatory and operational understanding, allowing firms to address areas of excess risk, safeguarding themselves and their customers.

Huntswood can support firms with:

  • New business checking - we determine whether features of products or services will expose the firm and / or its customers to risk, and help firms augment their processes, policies, procedures, governance and training to ensure issues will not crystallise in the customer base. We can do this as a one-off exercise or on an ongoing quality assurance basis.
  • Sales suitability - we ensure that the sales process does not result in excess risk by assessing its component parts, for example; customer touchpoints and the information they are provided, disclosures and any conflicts of interest, sales incentives, training, recordkeeping and many other factors. This is both in a regulatory and operational context, and covers past, current and future business.
  • Outcomes testing - we utilise robust and focused outcomes testing to ensure a clear view of product performance, and, if issues with products have already arisen, root cause analysis to accurately pinpoint the areas requiring action, subsequently making recommendations for enhancements.

Key Benefits

  • Gain robust assurance over the quality of products and services

  • Obtain evidence that the risks to customers were considered

  • Ensure that great products are backed by appropriate governance

 

Why Huntswood

A team of regulatory experts, many of whom have years of supervisory experience

A pedigree for managing operations and deep expertise in outsourcing and professional service delivery

The provision of bespoke solutions created though close collaboration with our clients