Purpose
This guide outlines how credit representatives can manage client complaints professionally, fairly, and in compliance with regulatory obligations.
What is a Complaint?
A complaint is any expression of dissatisfaction related to products, services, staff, or complaint process handling, where a response or resolution is expected.
How clients can lodge a complaint
Clients may lodge complaints:
Directly with you via phone, email, or in person.
To Oxcel Compliance through the details provided in your Credit Guide
Through social media.
Directly to AFCA (AFCA will always refer back to Oxcel to attempt resolution)
The client may authorise a representative to act on their behalf, this is acceptable but verbal or written consent should be obtained.
In all of the above- the complaint must be treated seriously and managed through IDR.
Internal Dispute Resolution (IDR) Process
1. Acknowledgement: Complaints must be acknowledged within 1 business day.
2. Investigation: Gather information from the client, broker, and internal systems.
3. Resolution: Aim for a fair, mutually agreeable outcome. Remedies may include apologies, fee waivers, or compensation. The outcome of the complaint must be provided to the Complainant within 30 calendar days.
External Dispute Resolution (EDR)
If the client is dissatisfied with the IDR outcome, they may escalate to Australian Financial Complaints Authority (AFCA)
What to do if you receive a complaint
If you receive the complaint, you must notify Oxcel by phone or forward the complaint to [email protected] as we are bound by timeframes to Acknowledge, Investigate and resolve the complaint, which commences at the day of client raising the dispute.