Compliance Services

Mutual One Compliance Services provides template documentation to assist compliance with FSA regulatory requirements and other trade bodies, including the Banking Code Standards Board and Joint Money Laundering Steering Group. The template documentation is designed to provide a generic solution for use by FSA regulated organisations, including Building Societies, Friendly Societies, mutual insurers and their subsidiaries. The templates can be adapted to suit individual subscriber’s requirements.

The following template documentation is available:

• Compliance Manual
• Board Manual
• Mortgage Conduct of Business Manual
• Insurance Conduct of Business Manual
• Retail Savings Terms and Conditions
• Residential Mortgage Terms and Conditions
• Commercial Mortgage Terms and Conditions

As an alternative to subscribing to the templates individually, the Compliance Collective Information Service (CCIS) is available. This provides a broader service and is already used by several Building Societies and Friendly Societies who find it more cost effective than subscribing to the individual templates.

In addition to the above, the Compliance Collective includes further template documentation exclusive to CCIS subscribers, which includes:

• Financial Promotions Checklists
• Treating Customers Fairly Documentation
• Complaint Handling Documentation
• Business Continuity Plan Template
• Data Security Gap Analysis
• Template Board Policy Statements
• Training and Competency Framework

Any subscriber using this documentation must ensure that the contents of it are appropriate in respect of their own activities and relevant for the purpose of their own compliance with relevant legislation and Codes of Practice.

Also included is access to both the General Compliance and the Mortgage Compliance email query forums and one place at the twice yearly Compliance Officer Forums and all Compliance Officer Discussion groups, which take place to discuss current topics on a regular basis.

Also available is the Compliance Standard Monitoring Service (CSMS) which has been written using a 'risk based' approach. This is a generic service, designed to highlight the areas of monitoring Societies need to be aware of, as opposed to specific work programmes and recommendations on the nature and level of compliance monitoring a Society should be undertaking.

The standard CSMS templates include the following regulatory areas:

• FSA Handbook Compliance
• Financial Promotions
• Mortgage Conduct of Business Compliance
• Insurance Conduct of Business Compliance
• Financial Crime and Fraud
• Non-FSA Compliance

Again, for a competitive daily rate Mutual One can bespoke the Monitoring Templates for any Society in line with the organisation’s requirements, along with undertaking independent proportionate monitoring.

Several FSA regulated organisations already take advantage of the bespoking "plus" level of service on Information Services and Monitoring Services available from Mutual One.

For further information on Mutual One Compliance Services, please contact Lesley Thacker on lesley.thacker@mutual-one.co.uk or 07855 781222