Why do financial services firms need case handlers?

In recent years, the financial services industry has never seen a greater need for appropriate teams to be in place in order to cope with the abundance of pressure placed on them by remediation claims.

Banks, building societies, credit card and loan providers have handed out compensation to the tune of £34.4 billion over the past eight years in Payment Protection Insurance (PPI) claims alone, and whilst the deadline for new claims to be made has now passed, this topic undoubtedly remains a major concern.

In addition to this, tens of thousands of additional work-from-home (WFH) financial services negotiators are currently needed by banks, insurers, and credit card firms to help them cope with the unprecedented volumes of varied claims that are now being generated in the wake of the COVID-19 Pandemic.

We currently estimate that the sector could need up to 30,000 additional contingent roles during the coming months and beyond. For both insurers and banks alike, the new normality will be putting contingency plans together to cope with the sheer volumes of general inquirers, a record level of claims applications, and deferred debt collections.

The government and the FCA have ruled that scheduled repayment collections for credit-based agreements such as car finance deals, mortgages, credit card repayments and other consumer borrowing cannot be enforced in the same way during the Pandemic that it would under usual business operations.

Car finance and mortgage lenders have been instructed/are being encouraged to offer repayment holidays to their customers – either from just the capital element of their planned payment or in some cases from the whole of their scheduled repayment. It has also been estimated that 1 in 9 people in the UK has applied for a mortgage holiday to-date, with the ratio expected to continue to increase.

What is a day in a life as a case handler like?

Your day-to-day tasks will involve carrying out a detailed, end-to-end case review process, analysing customer and provider responses, and progressing cases. You will gather and review relevant evidence from various sources to reach an appropriate outcome, while supporting the resolution of complex regulatory risks and issues in line with regulatory bodies.

These types of roles will require you to respond to each case within an appropriate timeframe, in line with internal SLAs, and in compliance with FCA regulations. You will 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 also be carried out as required. Throughout, you will be keeping the customer informed and at the forefront of all your activities.

Day to day tasks may include:

  • Carrying out reviews of verbal & written communication and making an informed judgement
  • Assessing all evidence, you have collated/obtained from third parties to review cases
  • Recommending and calculating redress for customers who were not treated fairly
  • Production of customer letters and other communications as appropriate
  • Working with a wide range of systems to manage and collate applicable data


What skills do you need?

Firstly, firms will want you to have a degree-level education or above (attained or predicted). You will need to have excellent organisational skills and be detail orientated with strong communication skills.

Essentially you will need to ensure you have strong IT skills with previous experience using Microsoft Office, in particular Word and Excel. You will need to have the ability to adhere to relevant performance standards and work with the team to contribute to project delivery and individual/team targets.

The main aspect many employers within this space will seek is an ability to provide excellent customer service with a strong focus on accurate outcomes whilst upholding the FCA’s regulatory principles of treating customers fairly. Whilst experience of working within financial services is beneficial, it isn’t essential.

What are the benefits of becoming a case handler?

Case handler roles typically offer a competitive salary, with incremental pay increases and bonuses available for top performers. These positions also offer support throughout your role, including a detailed training & accreditation programme with support from skilled professionals. This role will also offer great career growth opportunities and can often lead to a pathway into other roles within financial services organisations.

How can I apply?

If you are looking for a new role and would be interested in becoming a case handler, take a look at our latest industry roles and submit your CV if you think you could be a good fit for one of our open positions.

Even if there isn’t a suitable role for you right now, we’re always keen to receive CV’s for potential candidates for both case handlers and other financial services positions. We will review all your details thoroughly in order to match you with the best possible opportunities. So why not submit your CV today and one of our friendly team will be in touch.