Complaints MI checklist and corrective action by umxE48c

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									                                         Complaints – MI and actions
                                                       (Outcomes 1-6)
Review period:
Data measured (MI)            What this MI shows                      Target         Result          Actions

                                                               (Set by your firm.             (Where targets not met
                                                               Should be what your            indicate how root cause
                                                               firm believes will             will be investigated and
                                                               demonstrate TCF in             recommended timescales
                                                               relation to the six            for remedial action)
                                                               consumer outcomes)
Volume of complaints     May indicate mis-selling or other
                         failings affecting the fair
                         treatment of customers.
Complaints against       As above, may reveal a training
adviser/AR               need.
Complaints by            May indicate product and/or
branded product          provider’s marketing material is
                         unclear or misleading or
                         unsuitable for the target market.
                         This could lead to mis-selling or
                         other unfair treatment of
                         customers.
Complaints relating to   Could indicate either or both of:
broker information
supplied                    unclear /incomplete Key
                             Facts and other documents
                             or correspondence supplied
                             by the broker, or in the
                             advice given
                            deficiencies in the product
                             provider’s information used




                                                             Page 1 of 4
                                          Complaints – MI and actions
                                                       (Outcomes 1-6)
Review period:
Data measured (MI)            What this MI shows                     Target         Result          Actions

                                                              (Set by your firm.             (Where targets not met
                                                              Should be what your            indicate how root cause
                                                              firm believes will             will be investigated and
                                                              demonstrate TCF in             recommended timescales
                                                              relation to the six            for remedial action)
                                                              consumer outcomes)
Complaints upheld        May reveal trends depending on
internally – broken      the underlying reasons and the
down by key category     need for improvements in the
(see FSA list)           relevant areas. May be a
                         measure of the fairness of the
                         complaints handling procedures.
Complaints not upheld    May identify possible areas of
internally – as above    misunderstanding (assess
                         possible action to reduce this).
                         May indicate unfairness in the
                         complaints handling process.
Volume and               External measure of complaints
percentage of            handling process.
complaints referred to
FOS
Percentage of            May indicate unfairness in the
complaints to FOS        firm’s complaints handling
upheld                   process.
Percentage of            May be indicative that a firm’s
complaints to FOS not    complaints handling process is
upheld                   fair and resulting in the right
                         outcomes.




                                                            Page 2 of 4
                                       Complaints – MI and actions
                                                     (Outcomes 1-6)
Review period:
Data measured (MI)           What this MI shows                  Target         Result          Actions

                                                          (Set by your firm.             (Where targets not met
                                                          Should be what your            indicate how root cause
                                                          firm believes will             will be investigated and
                                                          demonstrate TCF in             recommended timescales
                                                          relation to the six            for remedial action)
                                                          consumer outcomes)
Percentage of           Performance measurement of
complaints              timeliness of complaints
acknowledged within     handling process.
5 day deadline
Percentage of           Performance
complaints resolved     measurement/complaints being
within 5 days           handled in a fair and timely
                        manner.
Percentage of           Performance
complaints resolved     measurement/complaints being
within 4 weeks          handled in a fair and timely
                        manner.
Percentage of           Performance
complaints resolved     measurement/complaints being
within 8 weeks          handled in a fair and timely
                        manner.
Number of RFCs          Action being taken to improve
raised                  standards. (For more
(‘Recommendation        information on RFCs see the
following complaint’)   section Complaints tips and
                        tools) Could be evidence of a
                        TCF culture and embedding.




                                                        Page 3 of 4
                                        Complaints – MI and actions
                                                        (Outcomes 1-6)
Review period:
Data measured (MI)            What this MI shows                   Target          Result          Actions

                                                             (Set by your firm.             (Where targets not met
                                                             Should be what your            indicate how root cause
                                                             firm believes will             will be investigated and
                                                             demonstrate TCF in             recommended timescales
                                                             relation to the six            for remedial action)
                                                             consumer outcomes)
Number of RFCs           Action taken to improve
resulting in a change    standards/reduce complaints.
to procedure or policy   Could be evidence of a TCF
                         culture and embedding.




                                                          Page 4 of 4

								
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