Lifecycle Credit Risk
Regulatory & Compliance
The financial services sector has a high level of scrutiny and demand to meet conduct, regulatory, compliance, privacy requirements and regulations. We work with our partners to ensure they are meeting their regulatory and compliance obligations in the credit risk areas of their business. Our deep understanding of the financial sector, the need for operational transparency and the standards required, ensures that our advice and recommendations align with the regulatory frameworks.
Credit Contracts & Consumer Finance Act (CCCFA)
The CCCFA is crucial legislation designed to protect consumers from unfair credit practices and promote transparency in credit contracts. Compliance with the CCCFA is essential for businesses operating in the consumer credit sector. However, understanding and implementing the requirements of the CCCFA can be challenging, requiring specialised knowledge and expertise. Happy Prime supports business to navigate the complexities and achieve compliance, while also mitigating consumer credit risks effectively.
Our team can conduct a thorough assessment of your business operations, policies and credit contracts to ensure compliance with the CCCFA. We identify areas of non-compliance and provide practical recommendations for remediation.
We assist in the development and implementation of robust policies and procedures tailored to your organisation’s unique requirements. These policies align with the CCCFA’s responsible lending obligations and disclosure requirements, enabling you to meet compliance standards.
Risk mitigation strategies
We’ll work closely with you to identify and mitigate consumer credit risks associated with non-compliance. We provide practical risk management strategies that help protect your business reputation, reduce the likelihood of complaints and disputes, and foster positive relationships with consumers.
Our comprehensive approach ensures that your organisation meets CCCFA requirements, reducing the risk of regulatory penalties and legal actions, and providing you with peace of mind so you can focus on your core business activities while we handle regulatory complexities.
COLLECTIONS & RECOVERIES