Case study: Redress calculations
Redress expertise slashes review costs by 20%
Large scale resourcing gets remediation project moving
Following an FCA review, a leading advice and investment management firm uncovered widespread unsuitable advice around defined benefit (DB) pension transfers. With regulatory pressure mounting, it needed to set up a large-scale remediation project as soon as possible. To complete the project within the FCA’s tight timescales, our client needed a 70-strong team, but finding first-rate compliance resource at such short notice was proving to be a drain on time and budget.
It was a largescale and complex project, but thankfully for our client, we took care of the resource, systems and infrastructure needed to get it up and running as quickly as possible.
Thanks to our extensive pool of over 5,000 pre-vetted contractors, finding appropriately qualified candidates was no problem. We handled the entire onboarding process for our client, from initial interview through to induction training. As compliance experts, we knew exactly what our client needed and our rigorous route to competency framework meant that our contractors were ready to hit the ground running from day one. What’s more, when we identified that our client would need a whole new teams of contractors at the last minute, our scalable resourcing model meant we could provide them quickly and seamlessly integrate them into the team.
The nature of the project meant that it was highly confidential and all activity needed to be conducted on a secure site. So as well as providing the resource, we gave our client exclusive use of our remediation centre in Leeds along with IT and telephony infrastructure, including our RegTech supported customer contact system.
Our flexible and responsive approach meant that our client had its project up and running in no time and was able to meet the FCA’s timescales for delivery.