Updating channel agreements

🎯 purpose instruction for amending a terms of business agreement (toba) with an intermediary or channel partner — commission changes, mandate extensions, or contact and banking amendments 📊 operational overview key operational metrics toba amendment turnaround target 5 business days first time right execution target 98% banking amendment verification sla same business day queue aging escalation threshold >10 business days outstanding signature completion target within 7 calendar days continuous improvement priorities reduce amendment rework caused by outdated clause references increase e signature adoption across intermediary base improve crm amendment tracking completeness monitor fraud control adherence for banking detail amendments identify recurring approval bottlenecks across distribution and underwriting 🛡 governance and ownership function governance responsibility channel manager amendment coordination, approval routing, execution oversight distribution manager approval of commission related amendments underwriting approval of mandate and scope amendments finance operations reconciliation management for commission impacting changes compliance fraud control oversight and audit support 🔒 rules that always apply only the current approved toba template from policies and standards may be used never edit a previously signed document commission changes require distribution manager approval before the amendment is drafted banking detail changes require a call back verification to the number already on file — not the number on the change request this is fraud control ctrl d 11 ✅ procedure log the amendment request in crm under the intermediary account ( related → agreement amendments → new ) verify the requester is an authorised signatory per the account record draft the amendment on the current template; reference the master toba date and clause numbers route for internal approval commission terms to distribution manager; mandate scope to underwriting; everything else to channel manager send for signature via the e signature platform wet ink only where the partner cannot use it, with channel manager sign off on return, attach the executed amendment to the account, update the commission agreement or mandate records to match, and set the next review date ⚠️ exception and escalation handling ⚠️ escalation requirement commission amendments impacting active policy periods must be communicated to finance operations before the effective date to avoid reconciliation exceptions and broker statement inaccuracies 🔎 operational guidance and common failure points confirm the authorised signatory against the latest intermediary records before any draft is issued validate clause references against the current approved toba template to avoid unenforceable amendments retain callback verification evidence for all banking amendments in accordance with fraud control ctrl d 11 escalate delayed approvals exceeding sla thresholds to the responsible channel manager verify review dates are updated correctly after execution to support governance reporting and renewal planning 🧾 records and evidence crm amendment request record approved toba amendment document e signature or wet ink execution evidence callback verification evidence for banking amendments approval and review audit trail