Training and Competence (T&C) supervision has always suffered from ‘swivel chair compliance’ with supervisors and auditors using disparate resources such as check lists, spreadsheets and legacy ‘repository tech’ to try and monitor all T&C KPIs. This creates risks and confusion.
Award winning Model Office, following consultation and requests from clients, has expanded its suite to provide a new and exciting integrated, data driven and AI empowered T&C software HUB. This one-stop-shop automates assessment and supervision, via integrations with back-office tech, the FCA register and other tech platforms, providing in-depth data driven dashboards and scoring across all T&C KPIs and Management Information (MI) enabling supervisors to monitor and manage ongoing adviser professional practice at the click of a button.
Key features The Model Office T&C dashboards offers:
- Practice management (back office) tech, FCA register and third party CPD providers integration to streamline adviser T&C KPI data and CPD assessment in one place
- Automated Audits and sign off across client file reviews, advice suitability reports and compliance policies using AI tools
- T&C scoring to provide instant assessment of ongoing adviser T&C performance
- T&C KPI Data Dashboards including all FCA requirements such as complaints, breaches, authorisations, investigations, FinProm, CPD tracking, FCA register issues, case checking
- Easy configurability for firms to add their own KPIs and T&C audit requirements
- Real time data-driven dashboards to aid results monitoring, streamlined regulatory reporting and data audit trails
- Ensuring key areas that could lead to poor outcomes and complaints such as client vulnerability, barriers, poor cost benefit analysis and foreseeable harms are identified, addressed, and evidenced
Chris Davies Model Office founder and Director said: “Model Office’s mission is to ensure advice firms have all the data and MI they need to evidence they comply with FCA regulations in one place at the click of one button. We do this by integration, automation and empowering self-regulation. Our new automated T&C dashboards do just that, aggregating all relevant FCA register, back-office data into one T&C HUB and use generative AI so firms’ supervisors and auditors gain digital audit trails so they can evidence they have addressed gaps, taken remedial actions and comply with ongoing T&C requirements.
