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SINGLE CUSTOMER VIEW FILE



This policy was adopted by the Board of Directors of Armagh Credit Union
Limited.



Signed:-

Position ________________


Position ________________





Date:






1. Purpose and Objectives of Policy


Armagh Credit Union Limited ("the credit union") aims to provide a first
class service to their members at all times that is compliant with credit
union policies, procedures and all legal and regulatory requirements and
guidance that apply to credit unions. The purpose of this document is to
outline the Single Customer View reporting requirements of the credit
union. It also outlines how these requirements will be implemented,
monitored and reported. We must be able to submit the SCV file plus the
attached effectiveness report with 24 hrs.

2. Definition of Single Customer View (SCV)


Credit unions have to be able to provide specific information to the
Financial Services Compensation Scheme (FSCS) about the accounts of each of
their depositors who are eligible to bring a claim for compensation. Credit
unions must provide that information within 72 hours of the FSCS requesting
it. The specific information required is referred to in The Handbooks (PRA
and FCA (Compensation Sourcebook-COMP)) as a Single Customer View (SCV). A
SCV is a single and consistent view of all aggregate customers' deposits
for each eligible claimant. All credit unions must be able to produce a SCV
by pulling together information on that depositor's deposits under a unique
identifier.

3. Overall Responsibility for SCV


The board of directors has ultimate responsibility for the credit union's
SCV responsibilities. This is implemented on a day-to-day basis by the
manager and/or compliance function of the credit union.

4. Responsibilities of the Board of Directors


Ensuring compliance with SCV reporting obligations imposed on the credit
union by The Handbooks
Approving, reviewing and updating at least annually the SCV Policy


5. Responsibilities of the Manager


The manager is responsible for the day-to-day management of the credit
union's operations, the day-to-day compliance and performance including SCV
requirements.

6. Responsibilities of the Compliance Function


As the credit union operates 5,000 or more accounts held by eligible
claimants the compliance function must ensure that the credit union is able
to provide the SCV information electronically in a format that is easily
transferable to, and compatible with, the FSCS's system.

7. Information in each SCV


The credit union ensures that each SCV at a minimum includes the
information listed in the table below (This table belongs to COMP 17.2.4
R).
|Field |Field descriptor |
|identifier | |
|Customer details |
|Single customer|Unique customer identifier |
|view record | |
|number | |
|Title |Title [if applicable and where held by the firm] |
|Customer 1st |1st Forename [if applicable] |
|Forename | |
|Customer 2nd |2nd Forename [if applicable and where held by the |
|Forename |firm] |
|Customer 3rd |3rd Forename [if applicable and where held by the |
|Forename |firm] |
|Customer |Surname [or company name or name of account holder] |
|Surname [or | |
|company name or| |
|name of account| |
|holder] | |
|Previous Name |Any former name of account holder [where held by the |
| |firm] |
|National |National Insurance number, where held by the firm |
|Insurance | |
|number | |
|Contact details |
|EITHER Format A |
|Single customer|Unique customer identifier |
|view record | |
|number | |
|House number |House number/Premise name |
|Street |Street |
|Locality |Locality [where held by the firm] |
|County |County [where held by the firm] |
|Postcode |Postcode [where used by a country] |
|Country |Country [for countries outside the UK] |
|OR Format B |
|Single customer|Unique customer identifier |
|view record | |
|number | |
|ADDRESS LINE 1 |As required |
|ADDRESS LINE 2 |As required |
|ADDRESS LINE 3 |As required |
|ADDRESS LINE 4 |As required |
|ADDRESS LINE 5 |As required |
|ADDRESS LINE 6 |As required |
|Postcode |Postcode [where used by a country] |
|Country |Country [for countries outside the UK] |
|Details of account(s) |
|Single customer|Unique customer identifier |
|view record | |
|number | |
|Account title |Surname, first name, any other initials or middle |
| |name identifier or company name or name of account |
| |holder |
|Account number |Unique number for this account |
|Product type |Type of product or service - instant access/term |
|Account holder |This field applies to joint or multiple accounts. It |
|indicator |must identify whether the customer is the primary |
| |account holder or secondary account holder (or other |
| |such status). |
|Account status |Active accounts only to be included |
|code | |
|Account balance|At end of business on date of request from FSCS |
|Aggregate balance |
|Single customer|Unique customer identifier |
|view record | |
|number | |
|Aggregate |At end of business on date of request from FSCS |
|balance across | |
|all accounts | |
|Compensatable |At end of business on date of request from FSCS which|
|amount |shows the amount to be compensated subject to the |
| |limit check that must be performed by the firm |
| |pursuant to COMP 17.2.5 R (this could be lower than |
| |the aggregate balance across all accounts if this |
| |exceeds the maximum payment for a protected deposit |
| |set out in COMP 10.2.3 R). |


The credit union ensures that where an eligible claimant holds more than
one account, the section of the single customer view which sets out
'Details of account(s)' is replicated for each account held.


8. Credit unions subject to the electronic SCV requirements


The credit union ensures that the verification requirements in the table
below have been adhered to.
|What |When |Content |
|Implementatio|Within 3 |A description of the deposit taker's |
|n report |months of |SCV system and how it has been |
| |receiving |implemented. |
| |permission |How the deposit taker proposes to |
| |to accept |transfer to the FSCS a single customer|
| |deposits |view for each eligible claimant, |
| | |including the transfer method and |
| | |format of the SCV file. |
| | |The testing undertaken of the deposit |
| | |taker's SCV system. |
| | |The accuracy rate of the information |
| | |in the deposit taker's SCV system. |
| | |The number of single customer views in|
| | |the deposit taker's SCV system. |
| | |The deposit taker's plan for the |
| | |ongoing maintenance of the SCV system.|
| | | |
| | |How the deposit taker's board of |
| | |directors will ensure they remain |
| | |satisfied that the SCV system |
| | |continues to satisfy the requirements.|
| | | |
| | |An explanation of any code or keys |
| | |used internally by the deposit taker, |
| | |so that the FSCS can easily identify |
| | |which accounts are held by eligible |
| | |claimants and which accounts are held |
| | |on behalf of beneficiaries who are - |
| | |or may be - eligible claimants. |
| | |How the limit check is applied by the |
| | |deposit taker. |
| | |Any other factors relevant to the |
| | |design of the deposit taker's SCV |
| | |system or to an assessment of whether |
| | |the deposit taker's SCV system |
| | |satisfies the PRA's and FCA's SCV |
| | |requirements. |
|SCV Report |Within 3 |A statement signed on behalf of the |
| |months of |relevant deposit taker's board of |
| |receiving |directors confirming that the SCV |
| |permission |system satisfies the requirements. |
| |to accept |The date when the deposit taker's SCV |
| |deposits |system last produced a single customer|
| | |view for each of the deposit taker's |
| | |customers that are eligible claimants.|
| | | |
| | |The date when the deposit taker's SCV |
| | |system last produced sample single |
| | |customer views and the sample size. |
| | |The number of single customer views in|
| | |the deposit taker's SCV system. |
| | |A statement of whether the deposit |
| | |taker's SCV has been reviewed by |
| | |external auditors and, if so, the |
| | |findings of that review. |
| | |A statement of whether there has been |
| | |a material change to the deposit |
| | |taker's SCV system since the previous |
| | |SCV report. |
|FSCS data |Within 3 |You must give a sample of 10,000 SCV |
|submission |months of |records or 10% of total SCV records to|
| |receiving |the FSCS. The representative sample |
| |permission |should include all types of accounts |
| |to accept |and customers across any brands of |
| |deposits |each authorised deposit taker. |


9. FSCS Disclosure Requirements


The credit union ensures it adheres to the Disclosure Requirements by:
Informing members of the FSCS coverage at least annually
Placing a poster on its premises in a prominent location to inform members
of coverage under the FSCS
Placing a window sticker in the front window of the credit union to inform
members of coverage under the FSCS
Placing cashier or teller stickers at each teller point to inform members
of coverage under the FSCS
Placing a sticker on any credit union laptop taken off site for business to
inform members of coverage under the FSCS
Holding leaflets detailing the FSCS
Ensuring the credit union website has a web banner promoting coverage under
the FSCS with a link to the FSCS website
Ensuring the regulator displayed message is also disclosed at the bottom of
the credit union website
Including a statement detailing members protection in its AGM notice or on
the account statement if this issued with the AGM notice
Including the statement in any account statement issued

10. SCV Report


The credit union provides the PRA with an SCV report every four years from
the date of receiving permission to accept deposits (COMP 17.3.4 R) and
supplies the PRA with an SCV report at any time upon request as part of the
PRA's ongoing supervision of the credit union.

Armagh Credit Union will produce a Single Customer View (SCV) file on a
monthly basis to comply with FCA/PRA requirements. The file should be
accurate and up-to date.

Every month a copy of the SCV Scheme Data Extract will be produced at the
Board Meeting so that the Directors are made aware of any gaps in
information.

11. Dormant Accounts

After two years of inactivity on an account a "dormant Flag" is set on the
account. This flag can only be lifted by the manager/assistant manager. The
dormant member's identity and signature are checked against their
membership application before any transaction is permitted. The system
automatically prepares a report of any activity on a dormant account.

12. Politically Exposed Persons

The Board of Directors has reviewed our membership policy and are confident
that the limited extent of the Common Bond coupled with the identity and
Anti Money Laundering checks completed at membership application stage
would significantly reduce Armagh Credit Union's exposure to politically
exposed persons.

The sanctions list is downloaded and checked at least monthly against our
membership to ensure that there are no known terrorists registered as
members of Armagh Credit Union.


13. Procedure to Generate a SCV at Month End

Log on to PC13 or PC15
Highlight SCV icon on main screen
A new screen will pop up showing live screen
Press enter to accept
The screen below will appear
Hit Process button
When the file is processing, a screen will appear showing the number of
members and the values processed
Check the values processed against the shareholding (including juveniles)
Take a screen-snap

14. Procedure to View SCV File Report

Open folder SCV300915
Check that the last record relates to the last member joined in the month
Check that accounts closed during the month are not included

15. SCV Policy Review


The SCV policy will be reviewed and approved by the board of directors on
an annual basis. In reviewing the SCV policy, the board of directors will
take account of any material changes to the SCV system (e.g. such changes
may occur upon the introduction of a new IT system that relates to the SCV
system) and if any such changes occur will submit the implementation report
and sample SCV data to the FSCS within three months.