Services

Remediation

Whether motivated by a thematic review, regulatory advice or your own proactive efforts to stem future complaints, remediation activities can stretch your normal capability. The demand for additional and specialist resource may be beyond what you are able to recruit and manage. In addition remediation is often the result of a previous failings rooted in culture and organisational behaviours. Using a flexible third party workforce means you can adjust resources as workflows require and it reduces the chance of repeating the same embedded mistakes. Having designed, implemented and managed some of the largest remediation projects in financial services, RFS is in a strong position to support you to scope, set-up and deliver.

Reviewing past customer cases must be done with the utmost care and rigour. You must ensure that you achieve high standards, fair outcomes and good conduct. Case Review decisions must be made by experienced people who are analytical, critical and have good judgement. Expert customer contact skills are also important to ensure that the right information is gathered in a professional and non-intrusive way. RFS can resource experts in remediation and if required provide a fully managed service. This includes a Project Delivery Manager accountable to you for successful service delivery as well as an operations team to ensure high levels of productivity and quality.

With fair customer outcomes being so critical to remediation RFS recommend that in addition to quality assurance, outcome testing is used to provide reliable feedback to the business and the regulator. RFS have created robust and statistically relevant sampling methods using ‘at-risk’ indicators to efficiently select cases and have specific expertise in developing redress calculators that ensure a fair payment for customers and that your risk is minimised.

To find out more how RFS can help you with remediation please get in touch with us.

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