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8.1.4 Resources and Training

C 8/2020 STA Effective from 25/12/2020
  1. 8.1.4.1Licensed Financial Institutions must make available the resources needed to ensure the efficiency and effectiveness of a Complaint management system.
  2. 8.1.4.2Licensed Financial Institutions must take reasonable steps to ensure that all relevant Staff are aware of the internal Complaint handling procedures and that they act in accordance with them. In particular, the front line Staff must be provided with training on how to handle and process Complaints.
  3. 8.1.4.3Licensed Financial Institutions must monitor the quality of how the Staff handles Complaints. The knowledge level and the service level standards for relevant Staff must be monitored on an ongoing basis and the standards set as Key Performance Indicators of the Complaint handling Staff.