Increased assurance and enhanced controls with TCC’s First Line Assurance Services.
A robust quality framework is an essential ‘line of defence’ against poor customer outcomes and the possibility of regulatory sanctions. Our flexible First Line Assurance solutions enable you to maintain and enhance your required quality framework, quickly and cost-effectively.
How can we help?
TCC’s offers three distinct services, available individually or combined, to provide assurance your sales processes are effective, efficient and compliant.
First Line Review
The absence of a fit for purpose quality framework increases the risk that non-compliance and customer detriment goes undetected. Historically, such shortcomings in systems and controls have resulted in the need to undertake costly Past Business Reviews and pay compensation to customers.
Regulatory interactions often focus on firms’ quality frameworks and commonly conclude they are not fit for purpose. This of course has profound implications, as weak first line assurance is seen by the FCA as a possible indicator of poor culture and a key risk to meeting customer protection objectives.
TCC’s Advisory experts can review your First Line Assurance processes and procedures to ensure they are robust and fit for purpose. We’ll provide reviews and recommendations for improvement based on industry best practice learnt over years of industry experience and knowledge of FCA requirements.
First Line Assurance Outsourcing
If you want the independence of external, expert First Line Assurance, TCC has developed the ideal solution. You need assurance and confidence that your First Line function – and therefore your sales practices – are effective. We offer First Line Assurance which is tested and implemented to enhanced standards and takes care of the burden of finding, training and continually assessing good quality resource in a competitive market. Using our bespoke workflow tools, we supplement this service with comprehensive, real-time MI.
Our First Line Assurance Outsourcing service is flexible as well as cost-and-time efficient. We can provide this service either as an overflow for busy periods or for all checks. Our methodology (able to cover a full range of products) is designed based on our years of experience covering thousands of reviews. It is robust, based on industry best practice and withstands regulatory scrutiny.
Many of our clients choose to enhance the efficiency and effectiveness of their First Line Assurance by combining our solutions with cutting-edge RecordSure technology.
Download the brochure for a detailed look at our First Line Assurance solutions.
First Line Assurance Overflow
In addition to outsourcing using TCC’s tried and tested methodology, we also have the capability to provide reviews using your own internal methodology. This allows you to use our overflow services without having to alter your MI or work off disparate systems. Our experienced reviews – covering all product ranges – are flexible enough to cover spikes in demand, meaning you can adopt TCC as added capability during busy periods or opt to utilise our services regularly allowing a higher volume of file checks without having to increase your internal overheads.
Find out how firms like yours have taken advantage of our First Line Assurance solutions.
Read Case Study
Why partner with TCC?
- Value-driven – we adopt unique workflow methods that provide cost and time efficiencies.
- Expertise – our experts provide advice and guidance on the weaknesses and root causes of non-compliance and poor customer outcomes identified during the course of reviews.
- Independence – TCC is independent from your business. This ensures reviews are sufficiently challenging as the FCA requires.