Compliance
Our Method
Our Workflow
Security
Fair Debt Act
Our Method
In today’s highly regulated environment, companies operate under an increasingly strict array of laws and regulations. First Solution works with our clients to effectively manage risk and put compliance at the top of our priority list. We put the following safeguards in place to ensure that all our staff, processes, and paperwork meet the highest standards of audit requirements:
- Comprehensive Oversight: We detail and process all documentation to ensure that company policies, practices, and enforced compliance initiatives are executed effectively.
- In-depth Training: We promote employee understanding of internal standards, procedures, and requirements for FDCP and local legal regulatory requirements.
- Tight Focus on Due Diligence and Third-Party Relationships
- Continuous Monitoring and Auditing of Effective Programming
- Developing and Enforcing Standards for Data Privacy and Security.
Our Workflow
We adhere 100% to agent calling scripts and the internationally recognized “Code of Conduct,” which is a detailed compliance program that protects partner businesses against legal violations, as well as the costs and consequences associated with them. In addition to providing protection, our policies allow partners time to refocus on growing their business.
One of the fundamental reasons leading banks trust us is the important and robust processes that govern our ongoing Business Continuity Plan. We successfully implemented this during COVID-19, and our clients appreciated our Business Continuity Plan execution as the first company to engage 100% of the workforce from home. First Solution has defined processes for all its operational functions. These processes are implemented, reviewed, rectified, and are in line with the rules and regulations of the local government.
The fundamental compliance checklist includes:
- Departmental Controls Functional Checklist (DCFC)
- Self-Assessment (SA)
- Management Awareness Rating Standards (MARS)
Our Processes are focused on Compliance across our organization.
- Financial Conduct Authority
- Credit Services Association
- Call Recording
- PCI Compliance
- Training and Monitoring
- International Compliance
- Treating Customers Fairly
- Full Transparency
Security
Data & IT Security
Our data security and IT policies are designed to meet the requirements of the most security-sensitive financial institutions. Our infrastructure is designed to provide the highest level of protection for our clients’ data, which is validated by our multinational and local clients.
The technology mainframe is built according to the guidelines of our Information Security Policy, which covers company processes for data handling and security.
Secure Facility
We have a secure physical office environment with strict document retention and collection management procedures.
Monitoring and Logging
Our system’s security and performance are constantly monitored by an extensive network of surveillance systems. Changes to our infrastructure, software, and data are monitored, logged, and reviewed.
At each departmental level, additional policies, standards, and procedures are developed to implement the First Solution IS policy, including individual departmental policies and key processes. These policies and procedures are reliable and cover a range of areas, including: Read More
Fair Debt Act Adherence
First Solution takes pride in adhering to the FDCPA’s set compliance when collecting a debt. We have seriously considered the local state and government laws when building the foundation of our credibility and reputation. Our carefully analyzed collections procedures ensure that we act favorably in mitigating all risk and adhering to all points outlined in the Fair Debt Collection Practices Act Document. This is our part of our continued promise of excellence for our clients and customers.
“On recovery yield – on average he has been the top 2 on recovery yield. He keeps on moving from 1 or 2 between all the agencies on recovery rate in the region.”
Contact
Contact
Get In Touch
Email us with your questions. Our debt experts are standing by to hear from you. First Solution are ready to collect your debts. Send us a message today!