Risk management and compliance is driven throughout our business via a ‘three lines of defence' model, a financial services industry standard approach. Having multiple levels of risk management and oversight helps to ensure we achieve our overall goal of bringing about fair and appropriate outcomes for all customers. We seek to achieve this via mechanisms such as:
As part of our on-going efforts to put the customer at the heart of our business, we are committed to continuous improvement and to identifying, managing and controlling conduct risks. To achieve this, our leadership team are fully engaged in risk committees and forums designed to consider customer outcomes.
We are proud of our history of leading industry efforts to improve standards by proactively engaging with industry bodies, with whom we work closely to ensure that we meet industry best practice.In 2011, Arrow Global became the first debt purchaser to successfully complete a voluntary Information Commissioner's Office (ICO) data protection compliance audit.
On 1st April 2014, the Financial Conduct Authority (FCA) took over from the Office of Fair Trading (OFT). Since this date we have been working through the FCA authorisation process and on 18th August 2016, we received notification from the FCA that Arrow Global Limited is now fully FCA authorised. We look forward to continuing our commitment to fair customer outcomes via our strategy, policies, processes and people.