At OSB Group, we encourage a culture where we:
- Communicate and work with each customer individually
- Act with consistency across all channels and brands
- Promote a confident, open and trustworthy workforce
- Offer simplicity, ease of business and long-term value for money
- Provide transparent products and a clear application process
Our customers are obviously integral to our success and we aim to deliver the standard of service they’ve come to expect. To support this, we use an established governance framework for consistent best practice across the business and ensure we have robust policies and procedures in place. The Group is committed to delivering fair and suitable outcomes to all customers based on their individual circumstances.
- Our Lending Policy ensures we lend money responsibly. The policy is approved annually and goes through two quality assurance processes with both the Operations and the Credit team. Results are presented to the Group Risk Committee and the Group Credit Committee, where our lending and potential risks and changes are discussed, challenged and approved.
- Our Customer Vulnerability Policy sets out the standards and approach for the identification and treatment of vulnerable customers and provides guidance to ensure they receive fair outcomes. It ensures that employees are appropriately trained to identify vulnerability and potential suicide risks in our customers and deal with such issues as effectively as possible. The Vulnerable Customer Review Committee seeks to continually improve standards and ensures that policy and outcomes are reported to the Group Risk Committee and the Board.
- Our Arrears Management and Forbearance Policy ensures that arrears and repossessions are handled effectively and outcomes are tailored to an individual’s circumstances. The policy is focused on seeking to work proactively with customers to prevent them falling into arrears or attempt to solve their existing situation. The Group Risk Committee reviews risk issues and regularly reports to the Board, which retains responsibility for understanding and controlling the degree of risk undertaken.
There are also policies that apply to the business as a whole and govern our operations, including those relating to:
- Data protection and retention
- Conduct risk
- Conflicts of interest
We take a personal approach to our customers, treating each customer as an individual and listening to their needs.
Many of our customers are also members of the Kent Reliance Provident Society (KRPS), the Society formed from the membership of the former Kent Reliance Building Society. OSB and the Society have benefitted from member engagement through the online ‘portal’ launched late in 2015, enabling input from a geographically broader range of members.
During 2020, five major studies were undertaken, assisting the Bank to understand opinions of savers.
Whilst we concentrate on providing an excellent service, when things go wrong, we aim to put them right and learn from any mistakes made.
- Our Complaints Handling Policy ensures that the Group responds to complaints swiftly, fairly and consistently and that customers’ concerns are taken seriously. We investigate complaints competently, diligently and impartially, supported by appropriately trained employees.
The Operations Committee management information on complaints is collected and reported on a regular basis to the Board and other relevant committees (as appropriate) for them to consider if additional actions are required.
Root cause analysis is used to identify and solve underlying issues rather than apply quick fixes.