BNM/RH/GL 000-4 - AmAssurance

BNM/RH/GL 000-4Consumer and MarketConduct DepartmentComplaints Handling Page 2/7PART II:POLICY REQUIREMENT AND BEST PRACTICES4. Complaints Handling4.1 The system, structure and procedures for handling complaints is dependent oneach FSP’s circumstances, resources and business strategy. However, there arecertain good principles common to all FSPs. Good complaints handling should beled by senior management, focused on outcomes, fair and proportionate, andsensitive to customers’ needs. The process should be clear and straightforward,easily understood and readily accessible by customers. It should be wellmanaged thoroughout so that decisions are taken quickly, things are put rightwhere necessary, and lessons learnt are operationalised for serviceimprovement. In this regard, the Guidelines sets out both the mandatoryrequirements, and best practices which FSPs are encouraged to adopt to furtherimprove service standards.4.1.1 Mandatory requirement - Complaints Handling UnitA FSP must establish a centralised platform for lodging a complaint and toassist customer in pursuit of redress or resolution of a complaint.• A FSP must establish a dedicated single point of contact such as acomplaint or customer service unit (hereinafter referred to as thecomplaints unit) for referring customer complaints, either in person or inwriting, via the telephone, fax or e-mail.• There must also be dedicated officers responsible for handlingcomplaints.• The organizational structure of any internal complaints handlingmechanism may be based on the needs and size of each FSP butmust be able to meet at least all the mandatory requirements in theGuidelines.Best Practices• Staff handling complaints are equipped and empowered to actdecisively to resolve complaints, i.e. supported by clear lines ofauthority and decision making that are flexible enough to handlecomplaints effectively and authoritatively.