Does your FSA compliance match ‘best practice’ within the broking community?
Insurance Broker Management And Compliance Solution – iBMACS is a web-based solution that greatly assists firms in achieving and maintaining compliance by:
- Embedding compliance in more than 30 critical FSA areas such as Client Money, Insurer Money, Business Continuity Plans, Conflicts of Interest and Treating Customers Fairly. iBMACS also provides full audit trails and the ability to assign actions to other users.
- Providing access to clear English guidance documents, which are updated regularly to reflect the ever-changing FSA handbook.
- Automatically producing month end broker profiling reports showing the compliance status for each area of functionality. Firms can also produce an “as at now” compliance report at any time which drills down into each area of compliance. Both documents are an invaluable resource for use at monthly board meetings.
- Presenting key information in a clear Red, Amber and Green (RAG) status allowing users to quickly identify areas that are non-compliant. Further piece of mind is offered by the automatic highlighting of areas that move from a compliant to non-compliant position.
Take action on FSA compliance today
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Contact Us
For further details on iBMACS and how it can help your business, contact:
Marsh Corporate Consulting Limited
The Business Centre
Greengates
Bradford
BD10 9TQ
Telephone: 01274 623444
Email: iBMACS@mccltd.co.uk
Website: www.mccltd.co.uk
The company is registered in England and Wales with company number 2515680 and has its registered office at the above address.
VAT Registration Number: 556995770
A vital health check for FSA compliance
iBMACS contains over 30 components, which cover:
- Broker Management;
- Regulation Management;
- Client Management; and
- Staff Management.
The components contain hundreds of pages written in clear English, helping the user to fully understand the FSA rules and regulations.
What are the benefits?
- FSA compliance is a massive headache for brokers which iBMACS helps Brokers to solve, thereby releasing more time to deal with clients.
- Peace of mind that by using iBMACS, non-compliant areas are automatically flagged.
- A one-stop resource on all areas of FSA regulation affecting Insurance Brokers as well as access to the latest industry news and developments.
- Brokers using iBMACS will find that compliance becomes embedded throughout their firm, rather than resting with one or two individuals.
- Monthly Broker profiling report clearly summarising each functionality area and the brokers current state of compliance.
- Peace of mind that by using iBMACS and the easy data entry screens results will be shown in a simple and clear Red, Amber and Green (RAG) status allowing users to easily identify areas that are non-compliant.
- Knowledge and comfort that broker information is stored in an encrypted database, backed up several times a day, kept off-site and regularly decrypted to check for errors.
- Access to easy to read plain English guidance documents, updated on a regular basis to reflect the ever-changing FSA handbook.
About MCC
Our business, established in 1990, has helped hundreds of businesses to excel by bringing clear and dynamic focus to the forefront of business decisions. We still retain a dedicated corporate finance division in addition to our BIBA endorsed FSA Financial Compliance and our new compliance web-based software solution:
iBMACS
Insurance Broker Management And Compliance Solution
We have developed a unique relationship within the insurance sector working with both insurers and brokers and offer BIBA endorsed FSA Financial Compliance to insurance brokers of all sizes. We believe our knowledge, software and approach to financial compliance is unparalleled in terms of cost and quality.
In the BIBA Press Release, Steve White, BIBA's Regulation and Compliance Manager, commented, "We are extremely pleased to be able to offer our members this innovative solution to financial compliance. We believe that it will provide directors and owners with the high level of expert guidance they require and expect it to be well received by our members."
In addition to being BIBA endorsed for FSA Financial Compliance, we have also worked with one of Europe's leading insurers, carrying out Health Checks across the UK on their brokers.
100% of surveyed brokers were non-compliant!
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