Role Summary
You will manage the complaints process at Novus. This includes handling referrals from third parties to Novus and all complaints made on Novus products to FOS. It includes oversight of third parties handling complaints on behalf of Novus from due diligence through to audits/reviews. It also includes a review of complaints MI and root cause analysis of complaints issues and internal reporting on complaints matters within Novus.
Role Responsibilities
Manage the complaints process and handle complaints escalated into Novus and to FOS
Handle complaints referrals to Novus from agents and the escalation of complaints referrals to carriers.
Draft and approve complaints processes and procedures (both Novus documents and third-party equivalents) including review of those processes and procedures post-launch and drafting enhancements/amendments as needed.
Review and draft complaints elements of delegated authority contracts with agents and Novus contracts with the carrier.
Handle complaints following the complaints authorities and the complaints authority matrix.
Manage all FOS liaison including the provision of files to FOS and (where applicable) ensuring any appropriate submissions on individual complaints are made properly and on a timely basis to FOS.
Monitor complaints handling and issue complaints decisions to ensure product value and positive customer outcomes whilst also minimising complaints-related financial leakage.
Monitor and manage customer outcomes on complaints
Review and monitor the complaints elements of products and services provided to customers to assess product value and customer outcomes.
Review and recommend the design of and/or enhancements to products and service delivery to ensure they meet FCA requirements and ensure positive customer outcomes and product value using complaints-related intelligence and experience and analysis of root cause issues. This includes both the design of and enhancements to the complaints process and the use of complaints data and intelligence to inform other, non-complaint products or service enhancements.
Working with the underwriting and claims teams to review and support the embedding of product value and customer outcomes delivered by third parties (especially Novus agents) and the implementation of changes to enhance product value and customer outcomes. This covers both the complaints elements of products and services and the review and support of other product and service enhancements to minimise poor customer outcomes identified as a result of complaints made.
Provide complaints analysis for product governance and oversight.
Complaints MI review and root cause analysis
Review and recommend enhancements to complaints MI produced by Novus and collected from third parties.
Review and recommend enhancements of/amendments to complaints-related customer conduct metrics.
Review and analyse complaints MI produced by Novus and by third parties.
Undertake root cause analysis of relevant complaints related to MI issues including any red-rated items.
Oversee and manage the root cause analysis on complaints performed by third parties.
Recommend fixes based on the various complaints' root cause assessments for products, services or individual schemes.
Monitor the effectiveness of root cause solutions implemented whether by Novus or by third parties.
Report on root cause issues, recommended and implemented solutions and the effectiveness of those solutions at appropriate committees (including the Conduct Committee and Product Oversight Group).
Review of market data to benchmark RAG thresholds and complaints related to product performance.
Track and review the financial consequences of complaints being made including the outcomes under the policy or claims themselves; distress and inconvenience and other compensatory payments required to be paid and costs associated with complaints handling and management (including third-party fees and FOS fees).
Recommending system, process, product or service fixes/amendments to reduce financial leakage whilst not unfairly prejudicing customers.
Management of complaints costs including negotiating (where necessary) complaints handling fees with third parties, complaints leakage clauses and other relevant delegated authority terms.
Review, draft and amend complaints clauses in Novus products.
Supporting the Aventum compliance team with any necessary regulatory reporting relating to complaints.
Oversight of complaints elements of delegated authorities
Undertake any complaints related to due diligence on third parties.
Review and, where appropriate, sign off (from a complaints perspective) on any third-party relationships including all delegated authorities.
Review and amend (where necessary) third-party contracts to reflect management and responsibility for complaints handling and management.
Performing complaints file reviews and audits of third parties and/or oversight of the complaints elements of file review and audits of third parties performed by others.
Design, enhance/amend and review the quality and effectiveness of third-party complaints procedures.
Review and analyse the complaints elements of the MI produced by third parties (see above).
Monitor, oversee and analyse complaints QA performed by third parties.
Reporting to the Novus Board and Exco, and the Aventum Group, on complaints issues (directly or via the Head of Product Value and Conduct Risk)
Reviewing and circulating complaints data to each of the relevant committees.
Drafting narrative of root cause analysis and other concerns with any applicable complaints metrics and recommending fixes to improve product value and customer outcomes and/or minimise financial leakage.
Reporting on the effectiveness of root cause fixes required and/or implemented.
Working with the Head of Products and Customer Outcomes to draft complaints reports for the Novus Exco and the Novus Board and into the principal firm's Board.
Reporting complaints issues to the Product Oversight Group and the Conduct Committee
Ensure the timely reporting of complaints matters to the Novus Product Oversight Group and the Novus Conduct Committee.
Working with the Head of Products and Customer Outcomes to present complaints reports to the Novus Product Oversight Group and the Novus Conduct Committee.
Keeping abreast of legal and regulatory developments as they relate to complaints.
Escalate complaints related to conducting or other risks to the Head of Product Value and Conduct Risk following applicable risk escalation processes and procedures.]
[Note: any reference to design and/or drafting and/or production of documents or data or other material includes amendments to those documents or data or material as well as the original drafting and/or design and/or production.]
Role Requirements
Detailed knowledge of FCA complaints and conduct-related rules, regulations and requirements.
Working knowledge of other FCA conduct-related rules, regulations and requirements.
Experience with consumer products complaints handling and escalation including both minimising financial leakage and
Proven producer of complaints-related root cause analysis and associated narrative. This should include tracking the effectiveness of solutions as well as the recommendation of and implementation of those solutions.
Experience in managing and overseeing third-party relationships from due diligence/onboarding through to review of performance including the use of MI analysis, root cause analysis and file reviews/auditing.
At all times, consider the effect of any actions taken on the customers of the Company, to improve their experience.
All employees must endeavour to provide accurate, complete and appropriate data, following the Company's data policy, as part of their roles and responsibilities at all times.
Skills & Abilities
Analysis and decision making.
High level of attention to detail.
Excellent organisational skills.
Delivering measurable results.
Effective time management skills.
Ability to collate and analyse data
Communication and relationship building.
Team focused.
Basic experience with Microsoft Office packages especially Excel and Word.
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