Management information is important. Rather than consider it as ‘something else the FCA expects of us‘ consider it to be excellent business practice.
All businesses need good MI, but it is only good if it is relevant and is analysed. Back office systems have not caught up in this respect and some of the traditional MI and KPI, like persistency and provider spread, are of less relevance in today’s industry.
You should therefore decide what is relevant to your firm and implement systems for capturing the information, for producing meaningful output and for analysing it.
Keeping up with growth
Alistair MacDougall Compliance FCA, PI, Update
There has been lots of political talk in recent months about the need for economic growth. Has to be a good thing yes? Well, yes and no actually. Growth needs to be robust and sustainable, otherwise this year’s growth could be next year’s problem. And that, in essence, is what a recent FCA review […]