Manage intermediary onboarding
📊 Process summary
This process takes a prospective intermediary from first application to an active, commission-earning relationship. It is owned by the Distribution Operations Manager and executed by the Sales Operations team.
✅ Operational requirement: Target onboarding cycle time is 10 working days from complete application to activation, measured through the Intermediary onboarding cycle time KPI.
📊 Operational overview
Key operational indicators
- Onboarding cycle target: 10 working days
- Four-eyes review compliance target: 100%
- First-pass application completeness monitored monthly
- Sanctions escalation target: same business day
- Reviewer-to-activation segregation control adherence: 100%
Continuous improvement priorities
- Reduce onboarding rework caused by incomplete intake submissions
- Improve sanctions screening turnaround efficiency
- Increase CRM setup automation and validation controls
- Monitor onboarding decline trends for recurring themes
- Improve activation readiness visibility through workflow reporting
🧭 Process flow
flowchart LR
A[Application received] --> B[Application review]
B --> C{Fit and proper?}
C -- no --> X[Decline with reason code]
C -- yes --> D[Compliance verification]
D --> E{Sanctions clear?}
E -- no --> X
E -- yes --> F[CRM setup]
F --> G[Mandate issue and activation]✅ Process stages
Application received — intermediary submits application with FSP licence details, mandate request and banking information.
Application review — completeness and fit-and-proper checks. See child document SOP: Reviewing intermediary applications.
Compliance verification — regulatory licence validation against the FSCA register, sanctions and adverse-media screening.
CRM setup — master record, hierarchy link and commission structure created. See child document Work instruction: Creating CRM records.
Mandate issue and activation — signed mandate stored, portal credentials issued, welcome pack sent.
⛔ Control restriction
A file that fails compliance verification must be formally declined and recorded with an approved reason code. Files must not remain parked or unresolved.
🛡 Governance and ownership
Control | Stage | Reference |
|---|---|---|
Four-eyes review of fit-and-proper assessment | Application review | Control register: Distribution, CTRL-D-03 |
FSCA licence validation before activation | Compliance verification | Control register: Distribution, CTRL-D-04 |
Segregation: reviewer cannot activate | CRM setup | Control register: Distribution, CTRL-D-07 |
🧾 Records and evidence
Cycle time, first-pass completeness rate and decline rate are reported monthly. Definitions live in the KPIs and Performance Measures space.