Conduct risk and remediation

We know the importance of a right first-time approach to deliver good customer outcomes within the right timeframe and at the right cost. We have a tried and tested methodology to stand up remediation programmes for success to provide stakeholder and consumer confidence:

1. Root cause analysis and Population ID – By completing thorough root cause analysis we can ensure the correct identification of the impacted population and create effective cohorts to improve operational efficiency and the quality of outcomes.

2. Pilot and Refinement – Prior to standing up the full remediation programme, our team will proactively check and challenge the population, policy and methodology, and customer outcomes through a rigorous test and learn activity. This allows our team to strengthen the planning, refine the population and extrapolate more meaningful insight into how many cases are likely to be in scope for the full remediation programme, and what potential redress amounts would be payable based on the cases found in the pilot sample.

3. Governance & Planning – Our remediation governance framework ensures transparency, control and effective oversight of the programme and operation. We have highly experienced project managers who understand the challenges of remediation and are proactive in planning and governing progress to provide stakeholder confidence.

4. Measures of Success – The key to a successful remediation programme is understanding and defining what success looks like right at the start. We have developed robust measures of success, including operational throughput, customer engagement and quality outcomes, and these can be reported on an ongoing basis to provide focus to the programme and operational teams.

We can support you through operational execution with a range of expertise and technology accelerators:

5. Regulatory Subject Matter Experts – Our Regulatory Subject Matter Experts understand the regulatory expectations and know what good customer outcomes look like. They can provide confidence to internal and external stakeholders and can be embedded within your operation to provide coaching, training, and case specific support.

6. Operational and Programme Management support – we have transformation teams experienced in delivering conduct and remediation programmes. They are experts in providing operational excellence and programme management support, including governance, process design/improvement, operational ways of working and detailed operational resource planning.

7. Skilled and experienced case handling resources  - Our KPMG Conduct and Remediation Academy are skilled in all aspects of remediation case handling, complaint handling and customer engagement. Experienced team leaders and operational managers ensure high quality case outcomes and an efficient operation. Our rigorous selection process ensures that the Academy recruit high quality KPMG colleagues focused on delivering good customer outcomes and a great customer experience. The KPMG Conduct and Remediation Academy are  trained by our highly skilled Regulatory SMEs, undertake qualifications (CeMAP) and are experienced in delivering large-scale, complex remediation and complaint programmes. Additionally, we have a strong network of skilled and trusted Conduct and Remediation Associates which includes skilled complaints handlers, QC and team leaders

8. Technology accelerators – By combining KPMG’s Regulatory, technology and operational expertise, we have developed several technology-enabled assets to automate the remediation life cycle, drive operational efficiencies and reduce cost. Our technology accelerators include:

   1. Automation through an AI led decisioning tool that supports effective triage and allocation of cases across the operation

   2. Automated letter generation, utilising standardised templates, branding and terminology to improve quality and efficiency

   3. Remediation workflow tool – our cloud-based workflow has been designed by our remediation experts and provides case management and reporting to deliver control and visibility of operational progress and performance.

   4. Redress calculators can be customised for low/high volume and simple/complex calculations.

   5. Our automated QC/QA tool, KPMG Decipher, transforms the customer experience, improves operational effectiveness, and supports robust risk management, through intelligent automation.

When closing the programme, our team will undertake key activities to instil confidence that the right outcomes have been delivered across the programme. They will provide a detailed closure report which includes how the agreed objectives and success factors were achieved, what processes and operations have been implemented and any future recommendations, which can easily be distributed to your board and the Regulator. Our closure activities include a detailed analysis of the policy and process, documented customer outcomes and data analysis to provide end to end traceability from the original population through to outcomes and completion.