Page 10 - The Standard - January 2019

Performance

Since the compliance team took over the residential
new business process on 1 November 2018 we
st
have received a thread of positive feedback from
both centre teams and the sales team. We have
successfully managed to reduce the end to end
onboarding process from 34 days to 15 days.

Plans are in place to take on the full AML process by the end of
the year. To support this we will also be introducing an AML portal
which we hope to streamline the process further and make it a
more client friendly experience.
The Finance team has been very busy since the sale focusing on
accounting for all of the related expenditures and setting up new
processes and controls. Some of these changes will significantly
affect the existing processes and include:

- Enhancing our transaction approval processes; there are
different limits for each person and everything will be processed
through the system, paper approvals won’t be accepted after an
initial transition period.
- Creditors will be paid on time; ASSUMING that everyone ensures
that transactions are fully approved by Thursday of each week ,
to ensure all our supplier payments due are in the BACS run which
we process on Mondays.
Budgets will be loaded into NAV and should be available for review
th
by 30 January. Our February GM meetings to review January
results will cover centre performance against budget at a high
level. If you have any queries please contact David Smart.

January 2019