With banks, building societies, credit card and loan providers handing out compensation to the tune of £34.4 billion over the past eight years, and astronomical amounts still being paid out, Payment Protection Insurance (PPI) undoubtedly remains a major concern.
After a high court ruling in 2011 ordered banks to pay out compensation to those customers affected, the financial services industry has continued to seek new talent to deal with the huge scale of compensation claims.
Develop and enhance your career
The role of PPI case handler, and other similar ones, might therefore be attractive as the August deadline for claims fast approaches. It could also be an excellent opportunity to develop and enhance your career within the financial services industry.
Indeed, there are many other areas and projects that case handlers could go into – whether it’s banking complaints, unsecured lending, mortgage, or review/redress – so it’s worth assessing all the options.
The skillset of an administrator, for instance, would be similar, drawing on IT proficiency, a confidence in navigating through both current and legacy systems, and strong written communication skills.
So what does a PPI case handler do?
Fundamentally, you’ll be a highly organised individual with strong attention to detail, working independently and managing competing priorities in a fast-paced environment.
You’ll be tasked with carrying out a detailed, end-to-end case review process, analysing customer and provider responses, and progressing cases.
You’ll gather and review relevant evidence from various sources in order to reach an appropriate outcome, while supporting the resolution of complex regulatory risks and issues in line with Financial Conduct Authority (FCA) objectives.
The role will require you to respond to each case within an appropriate timeframe, in line with internal SLAs and in compliance with FCA regulations.
You’ll also produce formal written responses and liaise with customers and third parties over the phone, while maintaining an internal claims management records system.
Redress calculations on upheld complaints and arranging customer payments will be carried out as required.
Throughout, you’ll be keeping the customer at the forefront of all activities.
Exciting and rewarding
Of course, being a PPI case handler can be exciting and rewarding – particularly when you’re responsible for a professionally dealt with claim – and it’s a great time to get involved.
As a market-leading financial services resourcing business, Momenta is well placed to advise on job opportunities, and registering with us could be the first step towards that new career you’ve been seeking.
You can see all our latest opportunities on our vacancies page.