Federal Management attains further CSA award
As a positive start to 2023, Federal Management is pleased to announced we have renewed an industry accreditation. For the 12th year running, we have successfully been awarded CAI Company Accreditation from the Credit Services Association. The Collector accreditation initiative is designed to be the benchmark to test the skills and knowledge of our Collection Officers and Agents.
The accreditation is awarded to Companies that operate high level Debt Collection services such as Debt Collection Agencies and financial institutions. Only 90 companies in the UK participate in the scheme with a lesser number hitting the minimum 80% pass rate that is required to achieve the accreditation from the Credit Services Association.
Launched in 2011, the accreditation is awarded annually and involves personnel undertaking a various tests. These tests are design to assess the working knowledge of the entrant in terms of compliance, knowledge of the laws that prevail. It also examines their knowledge with regards to best practices to adopt when undertaking the role of debt collection.
Federal Management has achieved the award a record 12 years on the trot. We were one of the original entrants on to the programme and gives testimony to our striving of excellent within the debt collection sector. We feel provides a clear indication into the high levels of performance and professionalism adopted throughout the company. Our sister company, Frontline Collections are specialists in the Private Debt Collection sector and share this fabulous accreditation.
The Credit Services Association is the only trade association for the Debt Collection industry and supporting services. It has over 300 members of which Federal Management are one leading companies. The origins of the Credit Services Association date back to 1906 and expect all their members to adhere to their strict code of practices and conduct.
As well as been accredited by the Credit Services Association(CSA), Federal Management is also accredited by ISO:9001.
In 2021 the content and difficulty level of the exam questions was updated to reflect the increasingly complex regulatory environment.
Key exam elements:
- Highly cost effective means of mitigating compliance risk
- Excellent user experience and in-depth reporting to identify risk factors and training needs at an individual level
- Monitor progress and gain insight into risk factors related to knowledge and skills of collectors
- Regularly updated in line with regulatory changes
- Demonstrate commitment to compliance excellence throughout your organisation to clients, customers, and wider stakeholders
- Use reporting insights on internal risk & control registers
- Run more than one assessment per year to ensure compliance competence is maintained and run multiple tests until pass is achieved
- Anonymously benchmark your employees and organisation against industry competitors
- Opportunities to feedback and input into content and features
- Support with integrating into wider L&D strategy, including apprenticeships
Our Managing Director Marc Curtis-Smith commented “We are extremely pleased to have been awarded this accreditation for a 12th year running. Our objective has always been to be the very best at what we do. Our wonderful Collections Teams are dedicated to developing their skill sets and working knowledge. I think this latest award is a clear testimony to the high standards we have here at Federal Management”
Debt Collection awards
When selecting a Professional B2B Debt Collection Agency to work with, do not be fooled by claims of ‘fake’ business awards. Any respected Debt Collection Agency will have professional accreditations and awards.
Any ‘Award Winning Debt Collection Agency’ will have credible and recognised accreditations. Not ones bought from marketing companies online.
Our mission has always been to provide the very best Business Debt Collection service in the UK. A quality company will always provide a quality service and we will continue to develop, achieve and deliver.
If your Business is seeking a Professional, FCA licensed Debt Collection Agency to recover your unpaid debts, contact us today for immediate assistance.