Resource Planning: Financial Resource and HR Recruitment Policy
Under the General Conduct Obligations for an Australian Credit Licence, Resource Planning is one of these requirements for brokers. Financial Resources and Human Resources are the two main areas of resource planning.
Financial Resources Policy - the purpose of a Financial Resources Policy to ensure Directors maintains sufficient financial resources to operate the business adequately. Cash flow forecasting is essential for any business and particularly those that are regulated.
Human Resources Policy - the purpose of a Human Resources Policy is to ensure the business has skilled employees and in particular, succession planning (if a Responsible Manager under the Licence is unavailable). This requirement is also essential for a sole operator.
At QED will work with you to define and document your financial resources policy and human resources policy that is right for your business. After having completed documentation for over 400 mortgage broking businesses, we can ensure what you do is best practice and we will ensure policies are practical, not something that sits in a folder.