Swiss regtech company Indigita SA, a leading provider of digital cross-border compliance solutions, has announced a partnership with the Financial Services Ombudsman (FINSOM), a specialized institution for Commercial and Workplace Mediation in the Swiss financial sector. The partnership has led to the development of a digital course that explains the importance of the FinSA Ombudsman Office (or “Mediation Body”) for appropriate enterprise risk management.
The aim of this e-Learning course is to support the integration of the Ombudsman Office (or "Mediation Body") as defined in the Financial Services Act (FinSA) into a company's complaints management policy and procedures, for the appropriate management of legal, compliance, reputation and regulatory risks.
The course is divided into six chapters. It begins by providing general terms and definitions, then gives a historic overview of Swiss investor protection behind the FinSA. It delivers an explanation of the role and mandate of the Ombudsman Office, the nature of disputes and the different resolution methods as per the Civil Procedure Code (CPC).
The training further explores the obligations introduced by the FinSA for the financial service providers. These include several duties, such as participating, providing information, and financial participation. Participants will understand the Commercial Mediation procedure, providing a detailed overview of each step: complaint, preliminary review, orientation or organization, proceeding, and options if the dispute is not abandoned or resolved.
The Ombudsman Office contributes to the appropriate management of legal, compliance, reputation, and regulatory risks associated with client dissatisfaction in the financial sector. Using the Financial Institutions Act (FinIA) as an example, the training explains the relation between the Ombudsman Office and Risk Management from a compliance perspective and offers a diagram of the possible organization of complaints handling. A vademecum is also available to download: it serves as a comprehensive guide for Swiss and foreign financial service providers to appropriately manage client complaints and comply with regulatory requirements outlined in the FinSA.
The e-Learning course takes 45 minutes to complete and concludes with a final assessment to validate participants' learning progress. Upon completion, participants will receive a certificate. The course is available in four languages: English, German, French and Italian.
The e-Learning course can be purchased by individual professionals directly through the Indigita e-Shop: https://e-shop.indigita.ch
For more information about Indigita’s entire e-Learning offering: https://www.indigita.ch/e-learning
About Financial Services Ombudsman (FINSOM)
Financial Services Ombudsman (FINSOM) is a specialised mediation institution for conflict management and dispute resolution in commercial and work relations in the Swiss financial sector. Recognised by the Federal Department of Finance (FDF) under the Financial Services Act (FinSA) in effect since 1st January 2020, FINSOM is also a member of INFO-Network and an affiliate member of FIN-NET. Tax-exempt since 2018, FINSOM is the first public service mediation body in the Swiss financial sector. Its governance assures the mediation scheme’s independence from individuals, private interest groups and the public administration.