Financial Services Administration Level 3

Course Overview

A Financial Services Administrator role offers general office administrative support and maintains customer/policy records through the customer management system and associated IT solutions.

Support the account handling team in delivering a complete customer service proposition in a professional, timely and efficient manner, including new business, mid-term adjustments and renewals.

Transact with insurers and customers accordingly.

What will you learn?

Credit Management / Debt Collection

Good understanding of the principles of credit management / debt collection together with a sound understanding of organisational policies and techniques used in their role

Legal, Regulatory and compliance

Good understanding of the legal, regulatory, risk and compliance framework within which they operate, with a sound understanding of relevant legal, risk and compliance requirements for their role, e.g. relevant commercial or consumer credit law, credit management policies, data protection, treating customers fairly,

complaints handling, potentially fraudulent transactions, including anti-money laundering arrangements and relevant financial / sector regulatory requirements depending on the focus of their role.

Industry and organisation understanding

Understands professional standards; the commercial context, nature and priorities of the organisation they work in; the end to end customer journey; how customers manage their money, e.g. as individuals or businesses; organisational ‘values’; and where their role fits in the organisation.

Understands the different areas of the organisation that they need to work with to deliver the best solution for the customer and business, and the nature of interactions with them, e.g. with Sales, Customer Services, Underwriting.

Products and services

Broad understanding of the products and services offered to customers by their organisation, together with sound knowledge of the products and services that they support, including their features and benefits, together with how their role supports the delivery of these products and services.

Systems and processes

In-depth understanding of the systems, tools and processes used in the role (see examples in the Standard), together with the standards to be met, including IT tools.