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About RWA
Page 3 of the FSA’s “Using a Compliance Consultant” Factsheet sets out the points you should consider when engaging with a compliance consultancy.
Skills and Competency
 Do they have the necessary experience and qualifications to help you and your type of firm? Our senior team of 10 directors and consultants has a total of over 300 years in the insurance industry, and a combined total of over 100 years in compliance or training. The team boasts five ACII, one FCII and one Fellow of the Compliance Institute. In addition, both Robin Wood and Ian Ritchie served as elected members of the previous insurance industry regulator, the IBRC. How do they keep up with regulatory and product changes? We have many resources to keep up with changes and development. We monitor the industry press, we hold regular team training meetings and we have a Consultants’ Forum online where frequent exchange of views and reporting and sharing of experiences takes place. Have you asked for a selection of clients and taken references? We act for some 250 clients, located throughout the UK, and ranging from one man firms up to national companies. We will always be pleased to provide references on a confidential basis to anyone seeking confirmation of the quality of our services. For reasons of client confidentiality we do not publish a ‘client list’. Have you compared them to any other consultant? Bearing in mind the above, we are confident that any comparison would show us in a positive light. However, that is for the client to decide! Can they provide the type and level of service you need? The information on this website sets-out the range of services that we offer. In addition, we are often asked by clients to undertake specific assignments, such as due diligence on new acquisitions.  How will you satisfy yourself that they are providing the service you need to achieve compliance? How will you know the consultant has helped? In addition to the intangible knowledge and support, you will see tangible evidence such as a health check report, template documents that you can download from our website and customise to your own needs, and assessments from our online assessment and training system, The OBELISK. Do they have sufficient resources to support your firm? We believe that our combined experience of over 300 years in the industry, over 100 of those in training and compliance provide the answer to that. We do have a Terms of Business which covers all of the points mentioned in the FSA document. Please follow this link to meet the team. |
