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Training & Competence In November 2007, the FSA introduced a
shorter Training and Competence Sourcebook for retail firms, focusing on the
rule of ‘competent employees’.
The sourcebook may be simplified, but the standards for demonstrating
competence remain high. If it’s been
a while since your T&C arrangements have been reviewed and challenged,
now maybe a good time. The FSA focus
on TCF will inevitably mean that the integrity of your T&C framework will
be under scrutiny, especially in relation to your sales agents and service
staff. T&C is not only about effective
recruitment and induction but also sound supervisory structures and ongoing
competence frameworks and it is in these areas that a firm can so often fall
down or operate inconsistently. In
addition, if you outsource any customer facing activity to a third party or
call centre, then you must be able to demonstrate effective due diligence and
ongoing oversight of their T&C framework. |
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© 2gether Consulting 2008 | Legal disclaimer |
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