The Compliance Centre makes note taking and documenting evidence quick and simple, and helps you to meet your BID obligations.
Completing the Compliance Centre
The Compliance Centre is accessible in the left hand menu of the Opportunity record. There are six headings which address your regulatory obligations.
The Compliance Centre will pre-populate with information from your records. You then assign your evidence against the pre-populated entries.
The following items can be assigned as evidence.
- Financials Information
- Calculations (Funding Position and Product Comparison)
- Identification (from the Contact record)
Identification and Employment information captured in the Contact record will populate the Know Your Customer heading in the Compliance Centre.
There are three methods which evidence can be attached.
- Utilize the Assign as Evidence button
- Assign Evidence Icons
- + Evidence button in the Compliance Centre
Note: If you have the relevant information in the attachments of the opportunity you do not need to assign evidence. It's best practice to make notes regarding anything you wish to 'call out' on the opportunity.
Using the Assign as Evidence button
The following sections contain the Assign as Evidence button.
Select the item and click the Assign as Evidence button.
You can select the heading which the note is related to and add comments. Click Assign to finish or Assign & Assign to another to link the same item to another evidence heading.
The item will then appear in the Compliance section of the Opportunity under that heading.
Assign Evidence icon
The following sections contain the Assign Evidence icon.
- Contact Identification
- Contact Employment
- Financials Information
Using the Assign Evidence icon
Click the green icon on the item you want to assign evidence for.
You can select the Evidence from the list of items which appear in the left hand panel. Add comments about the evidence in the Comments section on the right hand side and click Update to finish.
Note: Evidence is able to be assigned from your opportunity attachments
The Compliance heading will then have the relevant evidence assigned.
How to use the + Evidence button within the Compliance Centre
You can assign evidence in the Compliance Centre using the + Evidence button next to each item.
Select the relevant evidence in the left hand panel then add comments where required. Click Update to finish.
To learn more about Best Interests Duty please visit the BID Hub here